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Albertsons stock plunges as it says weaker grocery spending will cut into sales and earnings
Albertsons' stock declined as the company attributed weaker grocery spending to reduced sales and earnings, leading to a lowered full-year outlook.
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Adjacent reporting
- Walmart stock plunges as soaring gas prices hit profits and slam shoppers’ wallets
- Investors panic sell Walmart stock after the company warns Americans can barely afford budget groceries
- Americans are buying fewer groceries, and food companies are starting to feel the squeeze
- Walmart sees slowing sales growth and warns of a profit miss, in contrast to rival Target
- Gap and American Eagle stock are both getting crushed, and neither retailer is blaming the economy
- Accenture stock sinks after cutting its full-year revenue forecast