Albertsons Stock Drops 8% After Reporting Higher Impairment Losses

(RTTNews) - Albertsons Companies, Inc. (ACI) shares fell 8.51 percent to $19.74 during Tuesday's trading, after the company posted fourth-quarter fiscal 2024 results that reported $36.4 million in net losses from property dispositions and impairment, significantly higher than the $0.8 million recorded in the prior-year period.

The stock opened at $20.60 and traded between $19.70 and $21.27 on the New York Stock Exchange. Volume surged to 9.7 million shares, well above the average of 6.3 million. ACI has ranged from $17.00 to $23.20 over the past 52 weeks.

Net sales and other revenue reached $18.8 billion, up from $18.3 billion a year earlier.