BOISE, Idaho — Albertsons Cos. reported mixed second-quarter fiscal 2026 results, with declining sales and profits prompting the grocery retailer to accelerate turnaround efforts and launch a comprehensive business review aimed at improving performance and reducing costs.
For the quarter ended Sept. 12, Albertsons posted net sales and revenue of $18.9 billion, essentially flat compared with the prior year. Identical sales fell 0.8%, reflecting continued pressure on core grocery operations. However, digital sales increased 11%, while pharmacy remained a key growth driver despite ongoing challenges related to the Inflation Reduction Act.
Net income dropped sharply to $51.5 million, or $0.11 per share, compared with $168.5 million, or $0.30 per share, a year earlier. Adjusted net income totaled $179 million, or $0.36 per share, down from $248.4 million, while adjusted EBITDA declined to $784 million from $848.4 million last year…