Albertsons Companies 'A'

At the annual general meeting, Albertsons shareholders approved several amendments to the certificate of incorporation, including provisions establishing simple majorities for changes to board size and liability limitations for executives. The company filed the revised certificate of incorporation in Delaware. All nominated candidates were elected to the board of directors; their terms run until the 2027 AGM. Deloitte & Touche was confirmed as the independent auditor, the non‑binding say‑on‑pay advisory vote on executive compensation was approved, and a proposal on human rights was rejected. » More on de.investing.com

Albertsons shares extended a five-day losing streak, wiping out about 26% of market value and trading near a 52-week low. The move followed weak Q1 results with adjusted EPS of $0.42 (expectation $0.54) and a roughly 20% cut to the full-year guidance to $1.80. The CFO also resigned, and Citi and UBS downgraded the stock from "Buy" to "Neutral" and lowered their price targets, citing market share losses, high pricing positioning and restructuring risks. » More on de.investing.com

Albertsons missed Q1 expectations with adjusted EPS of $0.42 (expectation $0.54) and a same-store sales decline of 0.8%. The company trimmed its full-year guidance for adjusted EPS to $1.75–$1.85 (previously $2.22–$2.32) and lowered adjusted EBITDA to $3.59 billion. President and CFO Sharon McCollam announced her resignation; Albertsons plans an operational restructuring and to consolidate its eleven business divisions into four regions. The stock then fell about 23.5% to a 52-week low of $11.02, and analysts responded with downgrades. » More on de.investing.com