Albertsons Likely to Report Larger-Than-Expected Fiscal Second-Quarter Identical Sales Decline, RBC Says
MT newswire2026/10/07 13:0709:07 AM EDT, 10/07/2026 (MT Newswires) -- Albertsons (ACI) is likely to report a larger-than-expected fiscal second-quarter identical sales decline, RBC Capital Markets said in a client note emailed Wednesday, adding that downside risk to the grocery chain's full-year earnings outlook appears limited. The brokerage forecasts Albertsons to record a 1% decrease in identical sales in the second quarter, compared with the current FactSet consensus of a 0.9% decline. RBC's estimate reflects a 1.8% annual drop in core grocery sales and a sequential deceleration in pharmacy sales growth as the grocery chain begins to lap pharmacy script buys in the second quarter. The company is scheduled to release its latest quarterly results on Oct. 13. RBC expects Albertsons to reaffirm its full-year guidance. In July, the company slashed its full-year adjusted earnings guidance to a range of $1.75 to $1.85 per share, down from its prior outlook between $2.22 and $2.32. RBC analyst Steven Shemesh wrote in the note that the fiscal 2026 guidance cut "now appropriately embeds risk for the year." He said "earnings downside feels limited" unless the company decides to lean more heavily into price. For the third quarter, RBC expects Albertsons to record an identical sales decline of 1%, while the market expects a decrease of 0.8%. The brokerage said it hasn't seen substantial evidence so far of the unit growth improvement management previously expected as the year progresses amid price investments. Last week, Albertsons appointed Cody Perdue as interim chief financial officer, effective Sept. 30, succeeding Sharon McCollam, who had previously announced her plans to retire as president and CFO. Last month, the company named Meg Whitman to a newly created role of executive chair of its board of directors. The appointment of Whitman "increases the likelihood" of strategic change at the company, according to Shemesh. RBC has an outperform rating on Albertsons' stock with a price target of $13. Last month, Kroger (KR) lowered its full-year id
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