Albertsons has pulled its financial forecast for the year and started a full review of its business, Yahoo Finance and Quartz reported on Tuesday.

The grocery chain's second-quarter profit fell sharply. Net income was $51.5 million, or 11 cents a share, down from $168.5 million, or 30 cents a share, a year earlier, Quartz reported. Adjusted earnings were 36 cents a share, beating analysts' estimate of 33 cents. Sales slipped 0.1% to $18.89 billion.

Sales at stores open at least a year fell 0.8%, Yahoo Finance reported. Digital sales grew 11%, and the pharmacy business also grew.

CEO Susan Morris said the review is meant to speed up the company's recovery. She said Albertsons has a cost structure it "can no longer afford," Quartz reported. The review will look at the company's customer strategy, costs, store brands, markets, assets and how it spends money.

Albertsons will not give a new forecast until the review is done in its fourth quarter. Then it plans to share an updated financial plan and a turnaround plan, and it is aiming for an investor day in spring 2027, Quartz reported.

The review builds on a reorganization announced in July that merged the company's 11 divisions into four regions. Albertsons is still dealing with the collapse of its planned $24.6 billion merger with Kroger. It is seeking more than $9.3 billion from Kroger, and a trial is set to begin later this month, Quartz reported. Albertsons shares fell about 2.7% in premarket trading Tuesday, Quartz reported.

The company will pay a quarterly dividend of 17 cents a share on Nov. 6.

What we know: Albertsons has pulled its forecast and is reviewing its whole business after profit fell.
What we don't: What changes the review will bring, such as store closures or sales of parts of the business.