Albertsons Cos. Inc. and CVS Health Corp. projected higher profits as Covid-19 worries drove more consumers to the chains’ pharmacies for vaccinations and over-the-counter tests, executives said.
Supermarket operator Albertsons said its stores benefited from strong vaccine demand and higher pricing for groceries, lifting profits and sales for the company’s latest quarter. Albertsons’ results for the period, which ran through the first week of December, were stronger than analysts had forecast, and the chain raised its full-year guidance.
