No News On Albertsons Sale

BOISE, ID-More than two months after putting the company on the block , Albertsons executives have no news to report on a possible sale. During the company’s third-quarter conference call, Larry Johnston, the company’s chairman and CEO, said there would be no information on the issue “until the board approves a definitive transaction.”

Meanwhile, during its Q3, which ended Nov. 3, the grocer’s earnings fell from the same year-ago period to $81 million from $114 million. Without damages incurred from the quarter’s three hurricanes, earnings would have fallen at $91 million. Year-over-year same-store sales were also down, falling 0.4%.

Rising fuel prices were cited as a challenge to the company during the period, as well as competition, executives say. “We continue to feel strong competitive pressure when we don’t have a number one or strong number two market share position,” Johnston says.