08:50 AM EDT, 07/23/2024 (MT Newswires) -- Albertsons ( ACI ) reported fiscal Q1 adjusted net income Tuesday of $0.66 per diluted share, down from $0.93 a year earlier.

Analysts polled by Capital IQ expected $0.68.

Net sales and other revenue for the quarter ended June 15 were $24.27 billion, up from $24.05 billion a year earlier.

Analysts surveyed by Capital IQ expected $24.14 billion.

The company anticipates continuing challenges in fiscal 2024 related to investments in associate wages and benefits, an increasing proportion of lower-margin pharmacy and digital businesses, and the effects of the previous year's food inflation, Albertons' Chief Executive Vivek Sankaran said.

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