Albertsons () shares declined in intraday trading Monday as the supermarket chain and Kroger (KR) agreed to sel🧔l off more stores in order to get regulatory approval for Kroger’s $24.6 billion acquisition of its rival.

The two companies announced an amended divestiture package with C&S Wholesale Grocers in which 160 additional locations would be purchased by C&S, raising the total to 579. The agreement calls for C&S to take over the stores once Kroger’s purchase of Albertsons is closed.

The move came two months after the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commission (FTC) filed a lawsuit to 澳洲幸运5官方开奖结果体彩网:block the merger, calling the original deal with C&S “inadequate” that involved a “hodgepodge of unconnected stores, banners, brands, and other assets” that fell far short of mitigating the negative impact on competition by the two companies combining.

In today's statement, Kroger said adding Albertsons “will create meaningful and measurable benefits" for customers, associates, and communities, and both firms “remain committed to defending the merger in court.”

Along with the divestiture news, Albertsons also released its fourth-quarter financial report, posting adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.54, exceeding estimates. Revenue increased 0.4% to $18.34 billion, short of forecasts.

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Vivek Sankaran explained that the grocer delivered solid results “amidst a difficult industry backdrop.” He warned that Albertsons expects to&nbs﷽p;face “ongoing headwinds posed by investments in associate wages and benefits, cycling significant prior year food inflation, lower government assistance for our customers, declining COVID-related income, and the increasing mix of our pharmacy and digital businesses, which carry lower margins.” He added that those headwinds would be much stronger in the first half of the year, although partially offset by ongoing productivity initiatives.

Shares of Albertson were down 0.4% to $20.26 as of 10:40 a.m. ET Monday and almost 12% lower this year. Kroger shares were little changed but about 24% higher in 2024.