Albertsons Cuts Jobs, Boosts Digital Sales

0:00Albertsons is shrinking its footprint in North Texas, closing two stores and tearing county one in Ulysses and one in Fort Worth by late April. That means 138 layoffs for workers there. This fits a pattern of cutbacks with recent shutdowns in California and Washington, D.C. Hitting nearly 300 jobs total. It all stems from last year's collapsed $24.6 billion merger with Kroger over anti-trust worries. These are feeling the squeeze as big players like Walmart with its $1 trillion valuation dominate 23% of the grocery. Market and Kroger takes 10%. Albertsons faces brutal competition from Costco and HEB, too, pushing up food prices for everyone. Shifting gears, the company is betting big on digital. In their latest earnings, digital sales jumped 21%. Loyalty members grew 12% to 49.8 million, thanks too. AI, better delivery and e-commerce now at 7% of revenue.

1:01They're targeting $1.5 billion in savings through automation to fuel growth, closing weak spots, while strengthening online loyalty. In this cutthroat arena, you've been listening to Durham News today, AI-powered local news.