By Ananya Mariam Rajesh (Reuters) -Albertsons executives focused on moving on from its scuttled merger with Kroger on Wednesday, as the supermarket chain raised its profit forecast and its CEO talked up investments meant to weather competition from bigger retailers.

We are a stronger company today than pre-merger,” Chief Financial Officer Shannon McCollam said on a call with analysts.

Shares of grocery retailer Albertsons (ACI) rose Wednesday morning after the company reported better third-quarter earnings than analysts had expected, while sales fell just short of estimates. Albertsons recorded $400.

Albertsons Cos. raised its adjusted earnings outlook for the full year, a positive sign for the grocer seeking to pave a new path after its proposed deal with Kroger Co. fell apart. The nation’s second-largest supermarket operator now expects adjusted earnings per share in the range of $2.25 to $2.31, up from as much as $2.30 previously.

Albertsons lowered the upper end of its annual sales forecast after missing third-quarter revenue expectations on Wednesday, as intense competition from bigger retailers such as Walmart and Kroger offering heavy discounts hurt demand.