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Benzinga
Benzinga
Business
Nabaparna Bhattacharya

Albertsons Lifts Profit Outlook, Boosts Share Buyback

ACI Albertsons Companies Albertsons Companies Inc
Albertsons Companies Inc.

Albertsons Companies, Inc. (NYSE:ACI) shares surged more than 11% Tuesday after the supermarket chain beat second-quarter earnings and sales estimates, fueled by strong digital growth and rising identical-store sales, while simultaneously announcing a $750 million accelerated share repurchase and raising its full-year profit outlook.

The supermarket operator reported the second quarter adjusted earnings per share of 44 cents, beating the analyst consensus estimate of 40 cents.

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