Shares of grocery retailer Albertsons () rose Wednesday morning a🍸fter the company reported better third-quarter earnings than analysts had expected, while sales fell just short of estimates.

Albertsons recorded $400.6 million in net income for the quarter, up from $361.4 million the same time last year and the $318.1 million analysts had expected, according to estimates compiled by Visible Alpha. That profit came on $18.77 billion in revenue, better than $18.56 billion a year ago but narrowly below the $18.8 billion analyst consensus.

CEO Vivek Sankaran said the company del♉ivered a solid quarter despite a consumer who "remains cautious."

Albertsons also slightly lifted its outlook for the rest of fiscal 2024, expecting adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) from $2.25 to $2.31 for the full fiscal year, up from $2.20 to $2.30 previously. It also lowered the top end of its projected range for 澳洲幸运5官方开奖结果体彩网:same-store sales growth to 1.8% to 2%, down from a toꦯp end of 2.2% previously.

First Report Since👍 End of Kroger Merger, Start of Lawsuꦡit

Wednesday is the chain's first quarterly report since the proposed merger between Albertsons and Kroger (KR) was called off last month after a pair of judges 澳洲幸运5官方开奖结果体彩网:ruled against the deal. The judges sided with the 澳洲幸运5官方开奖结果体彩网:Federal Trade Commissions (FTC), which 澳洲幸运5官方开奖结果体彩网:sued to block the deal early last year, ruling that the merger would be 澳洲幸运5官方开奖结果体彩网:likely to result in lower wages and 澳洲幸运5官方开奖结果体彩网:higher prices as competition in the industry would decrease.

The companies have since accused each other of violating their merger agreement, and Albertsons has 澳洲幸运5官方开奖结果体彩网:filed a lawsuit against Kroger alleging the retailer knew it was not doing enough, like 澳洲幸运5官方开奖结果体彩网:agreeing to sell stores, to get the merger approved and resolve the 🔥FTC's concerns, claims Kroger has denied.

Both companies 澳洲幸运5官方开奖结果体彩网:have also restarted their 澳洲幸运5官方开奖结果体彩网:stock buyback pro🏅grams after the 🍰plans were paused to focus on winning regulatory approval for the merger.

Albertsons shares were up aওbout 2% Wednesday morning🃏.