Albertsons Cos. cited strength in its digital and pharmacy operations in posting a better-than-expected 1.4% increase in second-quarter sales, to $18.5 billion. The supermarket operator said identical-store sales increased 2.5% in the quarter ended September 9.
CEO Vivek Sankaran warned that a revenue slowdown could be in Albertsons' future. The company faces uncertainty over decisions in three court cases — at the federal level and at the state level in Colorado and Washington — challenging Kroger Co.'s plan to acquire Albertsons. Losses in any of the legal proceedings could scuttle the deal.
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