RBC Capital analysts provided their outlook on Albertsons Companies, Inc. (NYSE:ACI) ahead of the upcoming Q3 results announcement.
The analysts believe Q3 fundamentals will largely be glossed over by investors given the pending merger with KR. Inflation and merger commentary will likely be the primary focus.
The analysts remain of the view that the FTC will push for divestitures towards the upper end of the 650-store limit outlined in the merger agreement. They ultimately believe shares will trade sideways until there is more clarity on a potential outcome.
According to the analysts, food channel dollar sales throughout the company’s regions grew approximately 7.4% in Q3 (vs. Street’s 4.5%) and are trending up 9.7% Q4 to date.
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