Albertsons to Sell or Shut 21 Stores
From Bloomberg News
Albertsons Inc. plans to sell or close 21 grocery stores and drugstores, cutting 180 jobs, as it exits the Omaha market amid competition from Wal-Mart Stores Inc.
Albertsons’ second-quarter results will be reduced by 6 cents a share in costs, the Boise, Idaho-based grocer said. Terms of the sales weren’t disclosed.
Albertsons, whose same-store sales have been flat for at least three years, is leaving markets such as Omaha where it isn’t first or second in revenue.
Shares of Albertsons rose 18 cents to $25.73 on the New York Stock Exchange.
