Albertson's 2Q earnings total $125 million
Sep 1, 2004 12:08 PM, from staff and wire reports
Albertson’s Inc, the Boise ID-based grocery chain, reported second-quarter 2004 earnings from continuing operations of $125 million. In the prior year’s second quarter, earnings from continuing operations totaled $162 million.
Second-quarter earnings from continuing operations were affected by the continuing impact of the Southern California labor dispute, which reduced earnings by $50 million.
Total company sales reached $10.2 billion for the quarter versus 2003’s second-quarter sales of $9.0 billion. Comparable store sales for the quarter (including the continued effects of the Southern California labor dispute) declined 1.3%, and identical store sales fell 1.5%.
For the 2004 quarter, total gross profit was $2.9 billion, including the continuing impact of the labor dispute, versus $2.6 billion a year ago.
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