Albertsons suspends full-year forecast amid business review

Oct 13 (Reuters) - Albertsons ACI.N withdrew its fiscal 2026 forecasts on Tuesday as the grocer reviews its strategy, cost structure and portfolio of businesses as part of a turnaround effort.

Shares of the company were down nearly 4% premarket. They have fallen 27% this year.

Albertsons has been facing cautious consumer spending amid higher food and fuel costs as well as stiff competition from mass retailers, discount chains and private-label brands.

"We are launching a comprehensive business review to speed up improvements in Albertsons' performance and tackle even harder a cost structure we can no longer afford," CEO Susan Morris said on Tuesday.

In July, Albertsons outlined plans to cut prices, expand private-label offerings and improve e-commerce as its core customers traded down. It also plans to restructure its 11 divisions into four regions and centralize merchandising.

At the time, the company also slashed its annual targets, sending shares cratering.