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Stock impact report

Albertsons sued over 'deceptive' BOGO promotions by Washington AG [USA TODAY]

Albertsons Companies, Inc. Class A (ACI) 
US:NYSE Investor Relations: investor.archcoal.com
Company Research Source: USA TODAY
One of the nation's largest grocers is under fire for allegedly inflating prices ahead of its " buy one get one free " promotions, garnering nearly $20 million in the process. Washington State Attorney General Nick Brown on April 27, announced that his office is suing Albertsons Companies for overcharging customers through what Brown's office calls "deceptive" buy-one-get-one-free, or BOGO, promotions. According to the complaint , Albertsons stores — which in Washington includes its namesake brand, as well as Safeway and Haggen — raked in upwards of $19.7 million across 3 million transactions. The price hikes allegedly occurred from October 2019 to May 2024. What is dynamic pricing at grocery stores? Maryland now bans it Price hikes precede promotions, AG alleges In the alleged scheme, the complaint states, stores would "artificially hike prices" on everything from bread and cereals to produce and olive oil in the weeks or months preceding a BOGO promotion. They would then Show less Read more
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