Albertson’S Reports Increase In Earnings

Albertson’s Inc., one of the nation’s top food and drug retailers, reported a 23.9 percent increase in first-quarter net income on Tuesday, largely on the strength of its expansion program. The Boise-based company, which is pursuing regulatory approval of a multibillion-dollar merger with American Stores Co., said profits hit $137.1 million during the February-April quarter on sales of $4.2 billion.

That compared with net income of $110.6 million on sales of $3.8 billion a year earlier.