Albertsons appoints William P. Boltz, Chris Drumgoole and Meg Ham as directors; Cody Perdue named Interim CFO

Telsey Advisory Group reiterated a Market Perform rating and $13.00 price target for Albertsons (ACI) after the company appointed Cody Perdue as interim CFO. ACI shares are down 30% over six months but offer a 5.9% dividend yield. The company also approved corporate governance amendments. Separately, Telsey maintained an Outperform rating and $78.00 target for Kroger (KR).

Albertsons appointed Cody Perdue as interim CFO, effective immediately, and added three new directors to its board. Perdue succeeds Sharon McCollam, who will stay in an advisory role until February 2027. The new board members bring expertise in retail, technology, and grocery industry experience.

ACI Worldwide, handling $155T in annual transactions, integrated Ripple's XRP Ledger into SWIFT's multi-chain framework, enabling banks to use XRP for settlements. This move aligns with SWIFT's ISO 20022 rollout and follows Ripple's acquisition of GTreasury, expanding its reach in corporate treasury payments. XRP's adoption as a settlement asset remains uncertain, with Ripple targeting 14% of SWIFT's $155T volume.

Albertsons Cos. appointed Meg Whitman, former CEO of eBay and Hewlett Packard Enterprise, as executive chair of its board. Whitman, known for her tech expertise, will advise CEO Susan Morris. Albertsons operates stores across the U.S., including in New Mexico.

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.