ALBERTSONS LOWERS GUIDANCE; INDUSTRY STOCKS TAKE TUMBLE

BOISE, Idaho -- Albertsons here sneezed last week and much of the industry felt a chill.In the late hours of Oct. 30, Albertsons said it was revising its earnings expectations for the third quarter (which ended the next day) down 5% to 10% below its previous guidance as a result of "a steeper-than-expected sales decline."The announcement sent not only Albertsons' stock into a tailspin (declining 19.2%

BOISE, Idaho -- Albertsons here sneezed last week and much of the industry felt a chill.

In the late hours of Oct. 30, Albertsons said it was revising its earnings expectations for the third quarter (which ended the next day) down 5% to 10% below its previous guidance as a result of "a steeper-than-expected sales decline."

The announcement sent not only Albertsons' stock into a tailspin (declining 19.2% to $22.17 in the course of trading on Oct. 31), but also appeared to

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