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PORTLAND-Albertson’s is continues to plan new stores as it sheds underperforming ones. The Boise-ID-based grocery chain has signed a letter of intent to occupy around 35,000 sf on the ground floor of an Al Solheim apartment project at NW 14th and Lovejoy Street in the Pearl District. If the deal is consummated, it would be Albertson’s first small-format store in the state.

Neither Albertson’s nor Solheim could immediately be reached for further comment. Albertson’s in July said it would close 165 underperforming locations in 25 states over the next 24 months, but did not specify the stores’ exact locations. Albertson’s currently has 53 locations in Oregon, and 82 in Washington, out of a total of 2,492 stores in 37 states.

The publicly-traded company’s share price stood at $29.91 in afternoon trading Friday, off 55 cents on the day. The share price has fallen $4.60 or about 13% since trading resumed Monday after a weeklong hiatus resulting from the terrorist attacks.

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