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CHICAGO - In a time when buy recommendations for supermarket stocks are rare, stock market tout Charles Carlson issued a favorable review for Albertsons in a column released today.
Carlson is optimistic about the restructuring led by c.e.o. Larry Johnston, noting that moves made by the chain in the past year have paid off with two quarters of earnings increases have improved nicely in the last two quarters.
"ABS will not be immune to competitive pressures" from players such as Wal-Mart and Costco," writes Carlson. "Still, the company seems better positioned than smaller, regional chains to fend off the new competition."
WATCH FOR A SPECIAL PROFILE of "The New Albertsons" in the Oct. 15 issue of Progressive Grocer.