November 23, 1993 |
Albertson's Inc. said Monday that it has agreed to pay $29.5 million to settle a class-action lawsuit that alleged discrimination against Latinos and women employed at the company's 144 stores in California. The plaintiffs, who filed the suit in U.S. District Court in San Francisco in May, 1992, sought changes in the company's job promotion practices, as well as back pay and damages for women employed at Albertson's since April, 1987.
November 2, 2003 |
Two years ago, an ailing Albertsons Inc. tapped Lawrence Johnston as its first chief executive from outside the company's ranks, and Johnston launched a massive overhaul. The supermarket chain was struggling to digest its $9.5-billion purchase in 1999 of American Stores Co., which gave Albertsons Lucky markets and Sav-on drugstores and a much stronger presence in Southern California. Johnston, a former General Electric Co.
October 15, 1996 |
Albertson's Inc. promotes itself as "your store," but the grocery chain's surprise disclosure of a sales slowdown convinced many investors Monday to let someone else own the company's stock. Albertson's shares plunged 15% in heavy trading after the Boise, Idaho-based concern said its profit for the summer will be flat compared with a year earlier. The culprits: an unexpected slowdown in the growth of its sales, and Albertson's continued heavy spending on expansion. The stock tumbled $6.
December 24, 2005 |
Shares of Albertsons Inc. tumbled 12% on Friday, a day after the grocery chain abandoned talks to sell the company. Negotiations with a group of investors including Supervalu Inc. and CVS Corp. collapsed because "we did not get a bid we could accept," Albertsons spokeswoman Shannon Bennett said late Thursday. The company said it remained in discussions about selling some assets. Albertsons is losing market share to Wal-Mart Stores Inc. and other lower-cost competitors.
March 13, 2001 |
Albertson's Inc. said its fourth-quarter operating profit fell a less-than-expected 17% but warned that first-quarter earnings will miss forecasts. The supermarket operator said profit fell to $246 million, or 60 cents a share, excluding merger-related costs of $26 million, from a year ago, as sales fell 3.6% to $9.54 billion. Analysts on average were expecting 50 cents in the latest quarter, according to First Call/Thomson Financial.
March 14, 2002 |
Grocery chain Albertson's Inc. posted a 32% rise in fiscal fourth-quarter profit, saying cost cutting helped offset weaker sales and competition led by discounting giant Wal-Mart Stores Inc. The company is leaving the Houston, San Antonio, Nashville and Memphis, Tenn., markets as part of a cost-cutting program. Albertson's stock rose 29 cents to $31.69 on the New York Stock Exchange. The Boise, Idaho-based retailer said net income for the quarter ended Jan.
September 6, 2002 |
Albertson's Inc. had a profit in its fiscal second quarter, contrasting with a loss a year ago, after the No. 2 U.S. supermarket company shut stores to reduce costs in an attempt to compete with Wal-Mart Stores Inc. and rival grocers. Net income in the second quarter ended Aug. 1 was $253 million, or 62 cents a share, contrasted with a loss of $151 million, or 37 cents, a year earlier, the operator of Acme supermarkets and Osco drugstores said. Sales fell 3.2% to $8.94 billion.