Core Viewpoint - The Washington state Attorney General Bob Ferguson has filed a lawsuit to block the proposed $24.6 billion merger between Kroger and Albertsons, citing concerns over reduced competition and potential price increases for consumers in Washington [1][2]. Group 1: Lawsuit Details - The lawsuit argues that the merger will likely "substantially lessen supermarket competition or tend to create a monopoly" in many Washington communities where both companies currently compete [1]. - Ferguson highlighted that the merger could lead to increased prices for food and grocery products while decreasing the quantity and quality of choices available to consumers [1][2]. Group 2: Market Context - The lawsuit references recent price hikes in food costs due to factors like COVID-19 and supply chain issues, emphasizing the need for robust competition among supermarkets to keep prices in check [2]. - Albertsons is identified as the largest supermarket chain in Washington, while Kroger is the second-largest, operating under various brand names [3]. Group 3: Company Responses - In response to the lawsuit, Kroger and Albertsons expressed disappointment, stating that the decision to file the lawsuit was premature while the merger is still under regulatory review [3]. - Both companies plan to "vigorously defend" the lawsuit, arguing that blocking the merger would strengthen larger, non-unionized retailers like Walmart, Costco, and Amazon, thereby increasing their dominance in the grocery industry [5]. - Kroger and Albertsons contend that the merger would lead to lower prices, create more union jobs, and provide more affordable options to communities [5].

Key TakeawaysKroger and Albertsons have pushed back the timeline for a planned merger, citing ongoing dialogue with regulators.The news came on the same day that Washington State's attorney general filed a lawsuit to prevent the proposed tie-up between the grocery store operators.The Kroger share price may find support near a short-term uptrend line and the 50-day moving average around $45.Here is a look at a chart tied to recent news, with important technical levels to monitor.Source: TradingView.com.Share ...

Washington state has asked a judge to block a proposed $25 billion merger between two of America’s largest grocery chains, Kroger and Albertsons, claiming the new entity would harm customers and raise prices.A lawsuit filed in King County Superior Court on Monday seeks to block the proposed Kroger-Albertsons merger, calling it “presumptively unlawful” and alleging that together, the stores would “account for more than 50% of supermarket sales statewide.”The suit is the first formal move by regulators to ha ...

Key TakeawaysKroger and Albertsons have pushed back the timeline for a planned merger, citing ongoing dialogue with regulators.The news came on the same day that Washington State's attorney general filed a lawsuit to prevent the proposed tie-up between the grocery store operators.The Kroger share price may find support near a short-term uptrend line and the 50-day moving average around $45.Here is a look at a chart tied to recent news, with important technical levels to monitor.Source: TradingView.com.Share ...

Kroger CEO Rodney McMullen testifies about the proposed massive grocery store merger with Albertsons at a Senate Judiciary Committee Competition Policy, Antitrust, and Consumer Rights Subcommittee hearing on Capitol Hill in Washington, November 29, 2022.Supermarket chain Kroger's proposed acquisition of rival Albertsons is now expected to close in the first half of Kroger's fiscal year 2024 instead of early this year. Ongoing discussions with federal regulators delayed the deal's close, the companies said i ...

Albertsons Companies is setting its sights on convenient meal occasions with the launch of ready-to-cook meals, a move that comes as grocers increasingly look to gain share of consumers’ food spending from restaurants.The grocery giant, which has more than 2,200 stores across the country, announced Thursday (Jan. 11) the launch of its new private-label frozen food offerings, dubbed Signature Select Mix + Match, including a range of dishes that all cook in the oven at the same temperature for roughly the sam ...

BOISE, Idaho--(BUSINESS WIRE)--Albertsons Companies, Inc. (NYSE: ACI) today announced the launch of its newest Own Brand innovation, the Signature SELECT Mix + Match meal solution. Designed to save customers time both in the store and in the kitchen, this new line of frozen entrees, sides and veggies cook together in one standard oven at 375 degrees for about 35 minutes. Available now at 1,900 Albertsons Cos. stores including Albertsons, Safeway, Vons, Jewel-Osco, ACME and Shaw’s, this customizable meal sol ...

Albertsons Companies, Inc. (ACI) reported third-quarter fiscal 2023 results, wherein both the top and bottom lines beat their respective Zacks Consensus Estimate. While the top line increased, the bottom line decreased year over year.ACI has demonstrated a strong commitment to enhancing operational excellence in stores, expanding its digital and pharmacy operations, and deepening customer relationships. This approach has been its pivotal strategy.In the fiscal third quarter, the company continued to focus o ...

LAS VEGAS, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Albertsons Media Collective, the retail media arm for Albertsons Companies, Inc. (NYSE:ACI), and leading business and technology transformation company Capgemini, today announced a new agreement for media planning, media operations and content creation. As its global business partner, Albertsons Media Collective will leverage Capgemini's intelligent process automation technology, underpinned by robotic process automation (RPA) and generative artificial intelligen ...

Albertsons Companies, Inc. (ACI) reported $18.56 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 2.2%. EPS of $0.79 for the same period compares to $0.87 a year ago.The reported revenue represents a surprise of +1.56% over the Zacks Consensus Estimate of $18.27 billion. With the consensus EPS estimate being $0.66, the EPS surprise was +19.70%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...