Albertsons stock plunges as it says weaker grocery spending will cut into sales and earnings

Albertsons stock fell sharply on Thursday following a significant reduction in the company’s full-year financial guidance. The grocer attributed the outlook cut to softer industry trends and more cautious consumer spending patterns in the broader grocery market.
The company reported that its digital and pharmacy divisions continued to grow strongly in the first quarter, but core grocery operations faced mounting headwinds. Management cited food inflation and budgetary constraints stemming