Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. View the full release here: https://www.businesswire.com/news/home/20230301005323/en/, Sincerely, Food is one more way were connecting with our customers as we create more personal, engaging customer experiences that embody our values as a long-standing neighborhood grocer, said Jen Saenz, EVP and Chief Merchandising Officer. New omnichannel campaign brings to life new Sincerely” brand platform, capturing the company’s commitment to know, nourish and care for its customers. We are thrilled to be able to create a differentiated retail media network that will allow our customers to engage with the food and brands they love, said Argyilan, SVP Retail Media at Albertsons Companies. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. Primarily includes certain legal and regulatory accruals and settlements, lease adjustments related to non-cash rent expense and costs incurred on leased surplus properties, net realized and unrealized gains and losses related to non-operating investments, pension settlement gain, adjustments for unconsolidated equity investments and costs associated with integrating acquired businesses. Albertsons Companies is a leading food and drug retailer in the United States. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/, Get the latest news and updates from Stockhouse on social media, Stockhouse.com uses cookies on this site. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2021, which ended December 4, 2021. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The increase in employee costs was the result of additional labor to support the increase in fresh sales, market-driven wage rate increases and higher equity-based compensation expense. Albertsons Companies, Inc. (ACI) Latest Stock News & Headlines - Yahoo Finance U.S. Markets closed S&P Futures Dow Futures Nasdaq Futures Russell 2000 Futures +3.50 Crude Oil Albertsons. I want to thank all of our teams for their commitment to serving our customers and living our values every day. Excluding the impact of fuel, gross margin rate increased 10 basis points compared to the third quarter of fiscal 2020. In addition, a deflationary market in future periods could reduce sales growth and earnings. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. Changes in operating assets and liabilities: Accounts payable, accrued salaries and wages and other accrued liabilities, Net cash provided by operating activities, Business acquisitions, net of cash acquired, Payments for property, equipment and intangibles, including payments for lease buyouts, Payments of obligations under finance leases, Payment of redemption premium on debt extinguishment, Dividends paid on convertible preferred stock, Proceeds from convertible preferred stock, Third party issuance costs on convertible preferred stock, Employee tax withholding on vesting of restricted stock units, Net increase in cash and cash equivalents and restricted cash, Cash and cash equivalents and restricted cash at beginning of period, Cash and cash equivalents and restricted cash at end of period. Albertsons Media Collective will further our goal of bringing brands and our customers together by delivering an unrivaled vendor and customer experience and truly reimagining marketing for whats next.. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. Albertsons Cos. is a thriving business which has delivered over $75 billion in revenues in the rolling four quarters ended September 10, 2022, following strong performance of $71.9 billion in. As of December 3, 2022, the Company operated 2,270 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. changes in macroeconomic conditions and uncertainty regarding the geopolitical environment; rates of food price inflation or deflation, as well as fuel and commodity prices; changes in market interest rates and wage rates; changes in retail consumer behavior, including in the digital space; ability to attract and retain qualified associates and negotiate acceptable contracts with labor unions; failure to achieve productivity initiatives, unexpected changes in our objectives and plans, inability to implement our strategies, plans, programs and initiatives, or enter into strategic transactions, investments or partnerships in the future on terms acceptable to us, or at all, or to close the transactions contemplated by the Merger Agreement; litigation related to the transactions contemplated by the Merger Agreement; litigation related to the payment of the Special Dividend; restrictions on our ability to operate as a result of the Merger Agreement; challenges in attracting, retaining and motivating our employees until the Closing; availability and cost of goods used in our food products; cybersecurity events affecting us and related costs and impact to the business; and. A favorable economic backdrop together with the heroic performance of our frontline retail, distribution, and manufacturing teams contributed to these better-than-expected results," said Vivek Sankaran, CEO. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. During the quarter, we continued to gain market share in both units and dollars and saw ongoing improvement in both the in-store and online customer experience. factors related to the continued impact of the COVID-19 pandemic, about which there are still many unknowns, including its duration, recurrence, new variants, status and effectiveness of vaccinations, duration and scope of related government orders, financial assistance programs, mandates and regulations and the extent of the overall impact to our business and the communities we serve. Each Albertsons Companies banner has its own unique history and local identity. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business, our industry, the outcome of the Merger and the payment of the Special Dividend. This press release features multimedia. Sincerely, Food is one more way we’re connecting with our customers as we create more personal, engaging customer experiences that embody our values as a long-standing neighborhood grocer,” said Jen Saenz, EVP and Chief Merchandising Officer. We also use them to share usage information with our partners. The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. Income tax expense was $120.9 million, representing a 24.4% effective tax rate, during the third quarter of fiscal 2022 compared to $98.4 million, representing a 18.8% effective tax rate, during the third quarter of fiscal 2021. BOISE, Idaho--(BUSINESS WIRE)-- Net income was $375.5 million, or $0.20 per share, during the third quarter of fiscal 2022 compared to $424.5 million, or $0.74 per share, during the third quarter of fiscal 2021. Excluding the impact of fuel and LIFO expense, gross margin rate decreased 47 basis points compared to the third quarter of fiscal 2021. Selling and administrative expenses decreased to 25.4% of net sales and other revenue during the third quarter of fiscal 2021 compared to 27.0% of net sales and other revenue for the third quarter of fiscal 2019. The commissioner's order also extended the temporary restraining order against the payment of the Special Dividend. The following tables reconcile Net income to Adjusted net income, and Net income per Class A common share to Adjusted net income per Class A common share (in millions, except per share data): Loss (gain) on interest rate swaps and energy hedges, net (d), Government-mandated incremental COVID-19 pandemic related pay (2)(b), Amortization of debt discount and deferred financing costs (c), Amortization of intangible assets resulting from acquisitions (b), Tax impact of adjustments to Adjusted net income, Weighted average Class A common shares outstanding - diluted, Adjusted weighted average Class A common shares outstanding - diluted, Adjusted net income per Class A common share - diluted, Net income per Class A common share - diluted. The decrease was primarily driven by increases in product, shrink and supply chain costs, a decline in COVID-related revenue due to administering fewer vaccines, partially offset by increased COVID at-home test kit revenue, and increases in picking and delivery costs related to the growth in digital sales, partially offset by the benefits of ongoing productivity initiatives. (8) Represents the conversion of convertible preferred stock to the fully outstanding as-converted Class A common shares as of the end of each respective period, for periods in which the convertible preferred stock is antidilutive under GAAP. The platform will be carried out across the companys various grocery banners and customer experiences. Adjusted EBITDA was $1,051.2 million, or 6.3% of sales, during the third quarter of fiscal 2021 compared to $967.7 million, or 6.3% of sales, during the third quarter of fiscal 2020. To view or download images and other creative assets from the Sincerely, Food campaign, click here. Net income was $424.5 million, or $0.74 per Class A common share, during the third quarter of fiscal 2021 compared to $123.7 million, or $0.20 per Class A common share, during the third quarter of fiscal 2020. (a) Cost of sales That same day, on December 9, 2022, the Washington Attorney General sought review from the Washington Supreme Court, asking that Court to review the denial of the preliminary injunction. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties which are beyond our control and difficult to predict and could cause actual results to differ materially from the results expressed or implied by the statements. To learn more about Albertsons Cos., visit albertsonscompanies.com. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict, including, among others: All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. We aren't your ordinary grocery store chain- we're Albertsons Market! The call will be webcast and can be accessed at https://investor.albertsonscompanies.com/Event-Calendar. Each Albertsons Companies banner has its own unique history and local identity. (6) Primarily includes costs related to store damage, inventory losses and community support as a result of the civil disruption during late May 2020 and early June 2020 in certain markets. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. Supplemental Two-Year Results - Third Quarter of Fiscal 2021 Compared to Third Quarter of Fiscal 2019. Furthermore, our business is experiencing an inflationary environment and food price inflation, which has benefited our sales and gross margin growth but has negatively impacted our gross margin rates. This move lagged the S&P 500's daily . Albertsons Media Collective will further our goal of bringing brands and our customers together by delivering an unrivaled vendor and customer experience and truly reimagining marketing for whats next.. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. The campaign told from the perspective of what food sees is designed to boost awareness and drive positive perception of the grocers strengths in high-quality fresh produce, meats and seasonal ingredients, and to build a more emotional connection between customers and their local Albertsons Cos. banner. BOISE, Idaho-- (BUSINESS WIRE)-- Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel. The favorability in the effective income tax rate in the third quarter of fiscal 2021 was primarily driven by incremental discrete state income tax benefits related to expired statutes and audit settlements. Retail price inflation and incremental sales related to administering COVID-19 vaccines contributed to the 5.2% identical sales increase. You may obtain copies of all documents filed by the Company with the SEC regarding this transaction, free of charge, at the SEC's website, www.sec.gov or from the Company's website at https://www.albertsonscompanies.com/investors/overview/. These conversions represented approximately 15% of the convertible preferred stock outstanding as of the end of the third quarter of fiscal 2021. Enter Promo Code SAVE30 at checkout. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey.The name reflects . By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated. To learn more about Albertsons Cos., visit albertsonscompanies.com. In 2020, along with the Albertsons Companies Foundation, the Company gave $260 million in food and financial support, including approximately $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. Albertsons Companies, Inc. Interest expense, net was $111.3 million during the third quarter of fiscal 2021 compared to $115.9 million during the third quarter of fiscal 2020. With retail media networks rapidly reshaping the advertising space across the consumer media sector, Albertsons Media Collective, led by Kristi Argyilan, Albertsons Cos. SVP of Retail Media, will offer partners a digital marketing platform and omnichannel solutions with the core consumer in mind. The dividend yield on the company stock is 2.37%, while its Forward Dividend ratio is 0.48. Represents incremental pay that is legislatively required in certain municipalities in which we operate. BOISE, Idaho--(BUSINESS WIRE)-- Other companies may have different definitions of Non-GAAP Measures and provide for different adjustments, and comparability to the Company's results of operations may be impacted by such differences. This press release features multimedia. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. (7) Represents incremental unvested restricted stock units ("RSUs") and unvested restricted stock awards ("RSAs") to adjust the diluted weighted average Class A common shares outstanding during each respective period to the fully outstanding RSUs and RSAs as of the end of each respective period. The Special Dividend was to be paid on November 7, 2022. BOISE, Idaho and NEW YORK, Sept. 20, 2017 /PRNewswire/ -- Albertsons Companies, one of the nation's largest grocery retailers, today announced the acquisition of Plated, a premier meal kit service . In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. The Company operates stores across 34 states and the District of Columbia with 24 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . "Our team continues to deliver strong performance as we execute against our Customers for Life strategy and bring people together around the joys of food and inspire well-being," said Vivek Sankaran, CEO. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. New omnichannel campaign brings to life new Sincerely brand platform, capturing the companys commitment to know, nourish and care for its customers. retail consumer behavior and environment and the Company's industry; ability to attract and retain qualified associates; failure to achieve productivity initiatives; increased rates of food price inflation or future deflation; and. This press release features . The Company operates stores across 34 states and the District of Columbia with 24 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. Albertsons Companies, Inc. (NYSE: ACI) today announced the launch of Albertsons Media Collective, a retail media network designed to deliver digitally native, shopper-centric and engaging branded content to the companys ever-growing network of shoppers. $30 Off. The following tables reconcile Net income to Adjusted net income, and Net income per Class A common share to Adjusted net income per Class A common share for the 40 weeks ended December 4, 2021, December 5, 2020 and November 30, 2019: Gain on property dispositions and impairment losses, net (3), Discretionary COVID-19 pandemic related costs (4)(b), Government-mandated incremental COVID-19 pandemic related pay (5)(b). Kirby.Nardo@albertsons.com, Internet Explorer presents a security risk. SAN FRANCISCO, Nov. 22, 2021 /PRNewswire/ -- Today, Uber Technologies, Inc. (NYSE: UBER) announced their support of grocery partner Albertsons Companies, Inc.'s (NYSE: ACI) Nourishing Neighbors . Identical Sales. Non-GAAP adjustment classifications within the Consolidated Statement of Operations: You can identify forward-looking statements by the use of words such as "outlook," "may," "should," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions which are intended to identify forward-looking statements. Based in our Sincerely brand platform, the campaign showcases our commitment to know, nourish and care for our customers by delivering on our companys purpose.. Albertsons Companies is a leading food and drug retailer that operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The campaign told from the perspective of what food sees is designed to boost awareness and drive positive perception of the grocer's strengths in high-quality fresh produce, meats and seasonal ingredients, and to build a more emotional connection between customers and their local Albertsons Cos. banner. (b) Selling and administrative expenses The Company operates stores across 34 states and the District of Columbia with 24 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. Supermarket operators Albertsons and Safeway Inc. have agreed to sell 168 supermarkets to settle Federal Trade Commission charges that their proposed $9.2 billion merger would likely be anticompetitive in 130 local markets in Arizona, California, Montana, Nevada, Oregon, Texas, Washington, and Wyoming. The third quarter of fiscal 2022 and first 40 weeks of fiscal 2022 reflect the impact of the Special Dividend that is attributable to the holders of convertible preferred stock on an as-converted basis. As of December 3, 2022, the Company operated 2,270 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. "Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results. The expected effective tax rate does not reflect potential rate adjustments for the resolution of tax audits or potential changes in tax laws, which cannot be predicted with reasonable certainty. (2) Related to conversion activities and related costs associated with integrating acquired businesses. -, Albertsons Companies Launches Sincerely, Food, Kroger Seen Reporting Strong Fourth-Quarter Results, Oppenheimer Says, Albertsons Companies, Inc. : Unregistered Sale of Equity Securities, Other Events (form 8-K), https://www.businesswire.com/news/home/20230301005323/en/. Supplemental Two-Year Results, Net income per Class A common share two-year CAGR, Adjusted net income per Class A common share two-year CAGR. Also includes $53 million of charitable contributions to our communities for hunger relief and $36.9 million in final reward payments to front-line associates at the end of the first quarter of fiscal 2020. This press release features multimedia. Media opportunities include advertising placements on Albertsons owned properties such as its homepage, department, category, sub-category, email, search, app, pharmacy, as well as on Albertsons off-site targeted ad placements. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. An email was sent with password retrieval instructions. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. One of nation's leading grocers improves access to nutritious food by integrating EBT SNAP benefits into same-day grocery delivery and curbside pickup. Albertsons Companies is a leading food and drug retailer in the United States. Third Quarter of Fiscal 2021 Risks and uncertainties that could cause actual results to differ materially from such statements include: All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. View source version on businesswire.com: Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. (10) Reflects the per share impact of Non-GAAP adjustments for each period. As used in this earnings release, the term "identical sales" includes stores operating during the same period in both the current fiscal year and the prior fiscal year, comparing sales on a daily basis. ", Mr. Sankaran continued, "As we look ahead to the balance of the year and into fiscal 2023, we believe that all of these initiatives position us well to continue to drive top-line growth and deepen our customer and community engagement both online and in-store. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. Through digital properties, in-store signage, traditional and social media, Sincerely takes a heartwarming approach to showing how Albertsons Cos. customers’ daily moments and special occasions are celebrated through food. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. Companys commitment to know, nourish and care for its customers we aren & # x27 ; t your grocery! Be accessed at https: //www.businesswire.com/news/home/20230301005323/en/ current expectations, assumptions, estimates and projections our... About Albertsons Cos. FY 2021 to any of the end of the of. Related to management fees in prior periods paid in connection with acquisition and financing activities campaign, click.... Consumer digital sales are included in identical sales the end of the Special...., 399 associated and earnings P 500 & # x27 ; S daily impact of,! 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