Grocer Albertsons raises forecast, bets on shift to home cooking

Albertsons Cos Inc on Tuesday raised its annual projections for earnings and comparable sales, betting that consumers will cook more meals at home due to the COVID-19 pandemic and extended work-from-home orders. A resurgence in coronavirus cases in the United States has led shoppers to stock their pantries and avoid dining out or ordering in. “We see evidence that consumers will not revert to pre-COVID-19 food consumption patterns anytime soon,” Chief Executive Officer Vivek Sankaran told analysts. Read more at Reuters…