RTTNews | Jul 29, 2021 09:02AM EDT

09:01 Thursday, July 29, 2021 (RTTNews.com) - While reporting financial results for the first quarter on Thursday, food and drug retailer Albertsons Companies, Inc. (ACI) raised its adjusted earnings and identical sales guidance for the full-year 2021.

For fiscal 2021, the company now projects adjusted earnings in a range of $2.20 to $2.30 per share on identical sales decline of 5 to 6 percent, representing two-year stacked growth of 10.9 to 11.9 percent.

Previously, the company expected adjusted earnings in the range of $1.95 to $2.05 per share on identical sales decline of about 6 to 7.5 percent, representing two-year stacked growth of 9.4 to 10.9 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.98 per share on net sales of $65.73 billion for the year. Analysts' estimates typically exclude special items.

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