ALBERTSON'S EARNINGS CALL HAMMERS RETAIL STOCKS

BOISE, Idaho -- Albertson's here said last week it plans to invest in sales, reduce expenses and pare back capital spending in the wake of an earnings shortfall during the second quarter ended Aug. 3.News of the shortfall triggered a drop in Albertson's share price and in most other supermarket and drug-store stocks last week, prompting some securities companies to downgrade the ratings for the entire

BOISE, Idaho -- Albertson's here said last week it plans to invest in sales, reduce expenses and pare back capital spending in the wake of an earnings shortfall during the second quarter ended Aug. 3.

News of the shortfall triggered a drop in Albertson's share price and in most other supermarket and drug-store stocks last week, prompting some securities companies to downgrade the ratings for the entire sector in anticipation of margin erosion throughout the industry.

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