Albertson’s Earnings Tumble 9.4 Percent

Tue., Aug. 26, 1997

From Staff And Wire Reports

Citing the cost of expansion and efforts to increase sales at its supermarkets, Albertson’s Inc. on Monday reported a nearly 9.4 percent decline in earnings during the second quarter.

The Boise-based chain, which operates 847 stores in 20 states, said it earned $109.4 million, or 44 cents per share, during the 13 weeks that ended July 31. That was down from $120.7 million, or 48 cents per share, during the second quarter of 1996.

A. Craig Olson, senior vice president for finance and chief financial officer, said Albertson’s in-store merchandising programs, the opening of 17 new stores and remodeling of seven others during the quarter, enhanced employee training and a new advertising campaign all were responsible.

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Albertson’s Earnings Tumble 9.4 Percent

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