USA: Albertsons posts lower-than-expected Q1 profit
US grocery retailer Albertsons has reported lower-than-expected quarterly profit as the company was hit by fierce competition and the weak economy. Albertsons said earnings for the first quarter to 1 May were US$172m, or 47 cents a share, compared to a net loss of $165m, or 40 cents a share, in the year-ago period.
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