08:56 AM EDT, 04/22/2024 (MT Newswires) -- Albertsons ( ACI ) reported fiscal Q4 adjusted net income Monday of $0.54 per diluted share, down from $0.79 a year earlier.

Analysts polled by Capital IQ expected $0.52.

Net sales and other revenue for the quarter ended Feb. 24 were $18.34 billion, up from $18.27 billion a year earlier.

Analysts surveyed by Capital IQ expected revenue of $18.48 billion.

The company anticipates headwinds from various factors such as investments in associate wages, prior year food inflation, reduced government assistance, declining COVID-related income, and the growing proportion of pharmacy and digital businesses, Chief Executive Vivek Sankaran said in prepared remarks. The company expects "these headwinds to be much stronger in the first half of fiscal 2024," he added, but expects them to be "partially offset by ongoing productivity initiatives."