How Albertson’s Market’s soaring shares are driving down prices

Market watchers are watching AlberTSon’s rising shares closely.

The supermarket chain has surged more than 25 per cent since the summer, hitting a new record high on Monday.

The company’s stock surged more this year than any other on the TSX.

It has been trading near $1.20.

“AlbertsON’s share price has been rising at an annualised rate of around 10 per cent for the past few years,” said John Stoll, chief economist at Macquarie Securities in Sydney.

“This is a huge story, and I think we’ll see this continue to accelerate.”

Investors have watched the share price rise more than once since the spring.

In April, the company reported a quarterly profit of $17.7 million.

In May, the retailer reported a profit of nearly $50 million.

Last month, it reported a loss of $4.4 million, a decrease of $15.9 million.

But the year-over-year drop was still a remarkable increase.

Last year, the year ended June 30, Alberterson reported a $25.9-million profit, the most since 2014.

It also posted a $1-billion gain in net income.

The annualised gain for Alberitson was a whopping $7.7 billion, according to Macquary.

This year’s profits come as Alberitzons shares have soared.

Alberiths market cap is now $1 billion, up from $965 million in the same period last year.

The stock was trading around $1,000 on Monday morning.