Albertsons Profits Top Estimates in First Quarter Since End of Kroger Merger

Shares of grocery retailer Albertsons (ACI) rose Wednesday morning after the company reported better third-quarter earnings than analysts had expected, while sales fell just short of estimates. Albertsons recorded $400.6 million in net income for the quarter, up from $361.4 million the same time last year and the $318.1 million analysts had expected, according to estimates compiled by Visible Alpha. That profit came on $18.77 billion in revenue, better than $18.56 billion a year ago but narrowly below the ...