US grocery retailer Albertsons has posted a fall in quarterly profit, hit by competition from Wal-Mart and weak sales.

The Boise, Idaho-based company reported earnings of US$162m, or 44 cents a share, for the second quarter to 31 July, compared to earnings of $257m, or 63 cents a share, a year earlier.

Analysts polled by Reuters had been expecting, on average, earnings of 42 cents a share.

The retailer’s total second-quarter sales edged up 1% to $9.05bn, while comparable store sales slid 0.9%. Identical store sales declined 1.3%.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now