Albertsons delays IPO
Albertsons has postponed the company’s initial public stock offering to chip away at debt and focus on store upgrades to help attract consumers.
Albertsons delayed plans to sell stock earlier this week. Although the company’s deal hasn’t been removed, industry experts say Albertson’s isn’t anticipated to price again anytime soon.
The company has been making strides to entice price-sensitive shoppers and meet demands for fresh and natural foods, while deep discounters like Walmart and upscale retailers such as Whole Foods Market are seeing steady growth.
Albertson has been trying to raise $1.6 billion in its IPO to whittle away at its $12 billion debt. The company told investors they could price around $21 to $22, below its original $23 to $26 per share, according to experts.