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Investing.com — Albertsons Companies (NYSE:ACI) jumped almost 6% Tuesday after saying the rest of the fiscal year looks good.
“The company has experienced significant increases in product demand and overall basket size in our stores and in our eCommerce business due in part to COVID-19 related demand,” Albertsons said in a statement.
The grocery chain operator said it expects same-store sales for the year up at least 15.5%, and adjusted earnings per share between $2.75 and $2.85. Adjusted earnings before interest, taxes, depreciation and amortization should range from $4.15 billion and $5.25 billion.
Albertsons went public in June, and shares have traded down 6% since then.
Results for the most recent quarter saw earnings per share of $1.35 beating the expected $1.31, while sales missed slightly at $22.75 billion versus $22.79 billion. Same-stores sales increased 14%, while digital sales were up 243%.
