USA: Albertsons says sales decline will lead to lower Q3 profits
Albertsons announced today that a steeper than expected sales decline, which accelerated toward the end of the third quarter, would likely cause third quarter profits to be 5-10% below current guidance. Albertsons is now expecting fiscal third-quarter earnings of 47 cents to 49 cents per share, compared with the current Thomson First Call estimate of 52 cents per share.
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