Las Vegas Sun

November 12, 2009

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Retailer: Competition stiffening

Wednesday, June 6, 2001 | 11:03 a.m.

BOISE, Idaho -- Albertson's Inc., operator of grocery and drugstores nationwide, reported a profit for the first quarter ending May 3 of $186 million or 46 cents per share on revenue of $9.3 billion.

That compares to a profit of $179 million or 42 cents on sales of $9 billion in the year-ago quarter.

Albertson's beat analyst first-quarter estimates by 1 cent per share, but said it will miss projections of 52 cents for the second quarter as competition stiffens and as it looks to cut costs.

In Las Vegas, Albertson's operates Sav-On drugstores and Albertson's markets.

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