You are here
BOISE, Idaho - Albertsons Inc. today announced it is pulling out of the New Orleans market, which has become unprofitable, Reuters reports.
Boise, Idaho-based Albertsons said the market no longer fit with its strategy to be a No. 1 or No. 2 operator in all of its markets. It said its New Orleans stores would be sold or closed. There were no immediate details on how many job cuts or charges would result.
The company said four of the New Orleans stores may be sold to Montvale, New Jersey-based Great Atlantic & Pacific Tea Co.