Albuquerque’s Meg Whitman named Albertsons executive chair

Albertsons (ACI) reported flat Q2 revenue at $24.94B, missing EBITDA estimates, and is down 14%. Grocery Outlet (GO) reported $1.19B revenue, up 1.1%, and is up 12.5%. Sprouts (SFM) reported $2.33B revenue, up 4.7%, and is down 9.4%. Kroger (KR) reported $34.62B revenue, up 2%, and is up 7.7%.

Washington state argues Albertsons should pay $2.2 billion for opioid-related harms, following a two-month trial. The state claims the pharmacy failed in its responsibilities.

Albertsons Companies appointed Meg Whitman as executive chair, expanding its board to 11 members. Whitman will advise on long-term strategy, digital integration, and AI initiatives. She has extensive experience in tech and retail, including leadership roles at eBay, HP, and Quibi. Albertsons operates 2,240 retail stores as of June 2026.

The U.S. Department of Justice is investigating eight grocery chains, including Kroger, Walmart, and Amazon, for potential beef price-fixing. The probe follows claims of inflated meat prices. The average ground beef price rose 10% to $6.89 per pound. The Trump administration plans to ease tariffs on imported ground beef to lower prices, but ranchers express concerns about the impact on their businesses.

Albertsons appointed Meg Whitman as executive chair to drive growth. Whitman, former CEO of eBay and HP, will advise CEO Susan Morris on strategy and AI integration. Albertsons aims to reverse falling sales and improve execution. The board expanded to 11 members, with Kim Fennebresque becoming lead independent director.

The DOJ expanded its antitrust probe into beef prices to include eight major grocery retailers, seeking records on pricing, costs, and profit margins. The investigation follows a 74% increase in ground beef prices from 2020 to 2026. The DOJ previously targeted major meatpackers, with Tyson Foods settling a lawsuit for $82.5 million. The probe aims to address rising beef prices and their impact on consumers.