If we don’t see any significant sales momentum by 2026, then people will be raising some red flags,” one analyst said.
Albertsons revealed plans for layoffs at its corporate and division support offices, Supermarket News reported.
FTC Chair Lina Khan stated that allowing such a merger would have created “a market that is less competitive and more susceptible to price manipulation.” Consumer advocacy groups had also argued that smaller suppliers and independent grocers would struggle to compete with a retail behemoth, potentially forcing local stores out of business.
Albertsons Cos., which owns Albertsons and Safeway supermarkets, cited productivity needs in laying off 225 workers at an office in north Phoenix.
Boise, Idaho-based Albertsons Companies has confirmed layoffs across its corporate and division support workforce following the collapse of its proposed merger with Cincinnati, Ohio-based Kroger. While the merger aimed to create a retail giant in the grocery industry, regulatory hurdles ultimately derailed the deal.
Boise, Idaho, U.S.A.-based supermarket chain Albertsons Companies is laying off corporate and division staff members following its failed merger with Cincinnati, Ohio, U.S.A.-based Kroger, the company confirmed in a statement emailed to SeafoodSource.
Albertsons Companies remains a strong buy despite blocked Kroger merger, with potential upside from litigation and strong revenue growth.
Grocery giant Kroger Co. is moving forward with stores in Fort Worth and Little Elm, according to a real estate firm involved with the land sales. Kroger revealed in December initial plans to open the two stores, shortly after the grocer's attempted acquisition of Albertsons was blocked by a judge.
A statement by King Soopers accused union negotiators of “stall tactics and creating uncertainty.” The company said its final offer included significant investments of up to a 6% increase in the first year of the contract and “promises to support, protect and invest” in employees’ interests.
It came down to 130 voting to join the United Food and Commercial Workers and 100 voted against. Union workers come from Kroger, Albertsons-Safeway, and others.
Kroger Co . (NYSE:KR), with a market capitalization of $42.35 billion, stands as one of the largest grocery retailers in the United States. According to InvestingPro data, the company is a prominent player in the Consumer Staples Distribution & Retail industry,
Craig-Hallum raised the firm’s price target on LSI Industries (LYTS) to $30 from $26 and keeps a Buy rating on the shares. The firm notes that