BOISE, Idaho -- Albertson's here said sales and earnings achieved record levels for the third quarter ended Nov. 2. Net income rose 11.7% to $105.4 million for the 13-week quarter and 21.4% to $310.9 million for the 39-week period.
said the 1.4% gain in same-store sales for the quarter compared with a drop of 0.3% a year ago. "However, sales momentum has slipped slightly since the quarter's end, and management sees no quick fix," she said. While Albertson's continues to fine-tune its everyday-low-pricing program, "management indicated that a more promotional strategy may be necessary in markets with heavy competitive activity," Levin said.
