Shares of grocery retailer Albertsons (ACI) rose Wednesday morning after the company reported better third-quarter earnings than analysts had expected, while sales fell just short of estimates. Albertsons recorded $400.

Albertsons lowered the upper end of its annual sales forecast after missing third-quarter revenue expectations on Wednesday, as intense competition from bigger retailers such as Walmart and Kroger offering heavy discounts hurt demand.

Albertsons announced on Dec. 11, 2024, that it had called off an attempted merger with Kroger and would sue Kroger for breach of contract. The US$25 billion deal, first announced

Albertsons Cos. Inc.’s stock rose 3.6% early Wednesday, after the grocery chain beat profit estimates for its fiscal third quarter, offsetting a small revenue miss.

Albertsons missed third-quarter sales expectations on Wednesday, as intense competition from bigger retailers such as Walmart and Kroger offering heavy discounts and promotions hurt demand.