Susan Morris leads Albertsons as the grocery chain lowers its fiscal 2026 outlook following a period of softer consumer demand.
Susan Morris, CEO of Albertsons, reported that the grocery chain is lowering its fiscal 2026 sales and earnings outlook following a period of weaker demand and cautious consumer spending. The company now expects identical sales to decline between 0.5% and 1.5% for the full fiscal year, down from a previous forecast of flat to 1% growth. Net income for the first quarter fell to $84.7 million, or 17 cents per share, compared to $236.4 million in the previous year. To combat these pressures, the company is accelerating investments in the customer experience and launching an operating realignment called ACI Edge. This new structure consolidates 11 divisions into four regions to improve local execution and centralize merchandising. Morris noted that while the core grocery business faces pressure from softer industry trends, the company aims to improve long-term growth by lowering prices and strengthening loyalty. Additionally, the company announced that Chief Financial Officer Sharon McCollam will retire later this year, with the company currently seeking a transformational leader to succeed her.