Albertsons Cos. Inc. swung to a fourth-quarter loss, sending shares down 4.3% in Monday premarket trading. Net loss totaled $144.2 million, or 37 cents per share, after net income of $67.8 million, or 12 cents per share, last year. Adjusted EPS of 60 cents beat the FactSet consensus for 51 cents. Sales of $15.77 billion were up from $15.44 billion last year and also ahead of the FactSet consensus for $15.66 billion. Digital sales grew 282% and identical sales were up 11.8%. The FactSet consensus was for same-store sales growth of 10.6%. For fiscal 2021, Albertsons is guiding for EPS in the range of $1.95 to $2.05 and an identical sales decline of 6% to 7.5%, which represents growth of 9.4% to 10.9% on a two-year stack. The FactSet consensus is for EPS of $1.86 and a same-store sales decline of 7.2%. Albertsons shares are up 9.1% for the year to date while the S&P 500 index is up 11.3% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.