Albertsons Expands Cost-Cutting Plan to $2 Billion, Sets 2027 Investor Day

Albertsons Companies plans to expand its cost-reduction program to $2 billion and present a refreshed strategy at an investor day in spring 2027 as the grocer pursues a turnaround strategy after weaker second-quarter results.

The company paused updates to its fiscal 2026 outlook until the fourth quarter. Its plans include accelerating cost reductions, exiting underperforming areas and optimizing its portfolio.

Albertsons reported a 0.8% decline in identical sales for the second quarter, along with lower earnings per share. The company previously withdrew its fiscal 2026 guidance as it began a turnaround review.

Albertsons will outline its updated strategy, financial outlook and value-enhancement measures at its next call and investor day. The investor day is scheduled for spring 2027.

Executive Chairman of the Board Margaret Whitman said she had spent the past several weeks meeting with management, directors, associates and customers while getting to know the business.