Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2021, which ended December 4, 2021. Carlin and C.A . health epidemics and pandemics including the continued impact of the COVID-19 pandemic, about which there are still many unknowns and the extent of their impact on our business and the communities we serve including factors that could cause a reduction in the current levels of revenue from administering vaccines and providing test kits. Stockhouse membership requires an email address which must be shared by Facebook. 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. An email was sent with password retrieval instructions. Selling and administrative expenses decreased to 25.4% of net sales and other revenue during the third quarter of fiscal 2021 compared to 28.0% during the third quarter of fiscal 2020. A replay of the webcast will be available for at least two weeks following the completion of the call. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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 company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. ", Third Quarter of Fiscal 2021 Results Compared to Third Quarter of Fiscal 2020. Albertsons Companies is a leading food and drug retailer in the United States. Represents incremental pay that is legislatively required in certain municipalities in which we operate. 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. 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. 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. This press release includes "forward-looking statements" within the meaning of the federal securities laws. We will not release or resell your information to third parties without your permission. To learn more about Albertsons Cos., visit albertsonscompanies.com. Each Albertsons Companies banner has its own unique history and local identity. The following table is a reconciliation of Net income to Adjusted EBITDA on a rolling four quarter basis: (Gain) loss on interest rate and commodity hedges, net, Discretionary COVID-19 pandemic related costs (3), Government-mandated incremental COVID-19 pandemic related pay (4), Transaction and reorganization costs related to convertible preferred stock issuance and initial public offering, Combined Plan and UFCW National Fund withdrawal (6). Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. Albertsons Companies is a leading food and drug retailer in the United States. These Non-GAAP Measures exclude the financial impact of items management does not consider in assessing the Company's ongoing operating performance, and thereby provide useful measures of its operating performance on a period-to-period basis. The Company's presentation of Non-GAAP Measures should not be construed as an implication that its future results will be unaffected by unusual or non-recurring items. (4) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. On that day, Albertsons Companies, Inc. is projected to report earnings of $0.68 per share, which would represent a year-over-year decline of 9.33%. Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. The Company's presentation of Non-GAAP Measures should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. New omnichannel campaign brings to life new Sincerely brand platform, capturing the companys commitment to know, nourish and care for its customers. Net loss on property dispositions and impairment losses was $7.3 million during the third quarter of fiscal 2022 compared to net gain of $13.4 million during the third quarter of fiscal 2021. 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. Excluding the impact of fuel and LIFO expense, gross margin rate decreased 47 basis points compared to the third quarter of fiscal 2021. See the reconciliation of Net income to Adjusted net income above for further details. (5) Primarily includes 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, certain legal and regulatory accruals and settlements, and adjustments for unconsolidated equity investments. Kirby.Nardo@albertsons.com, Albertsons Companies Unveils New Retail Media Network, https://www.businesswire.com/news/home/20211111006049/en/, Do Not Sell or Share My Personal Information. Announces Proposed Senior Notes Offering. During the first 40 weeks of fiscal 2021, the Company spent $1,216.4 million in capital expenditures, which included investments in digital and technology, the opening of nine new stores and the completion of 146 store remodels. 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. 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. Non-GAAP Measures. Skaggs to open his first Albertsons store on 16th and State Streets in Boise, Idaho. Primarily includes certain legal and regulatory accruals and settlements, net realized and unrealized gains and losses related to non-operating investments, lease adjustments related to non-cash rent expense and costs incurred on leased surplus properties, pension settlement gain, adjustments for unconsolidated equity investments and costs associated with integrating acquired businesses. The name reflects the company’s commitment to improve lives by empowering customers to make more informed choices around food and well-being. This press release features multimedia. **OFFER DETAILS: TO SAVE $30 YOU MUST SPEND $75 OR MORE IN A SINGLE TRANSACTION FOR YOUR FIRST ONLINE PICKUP ORDER OF QUALIFYING ITEMS. Non-GAAP adjustment classifications within the Consolidated Statement of Operations: 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. BATTLE CREEK, Mich., Feb. 27, 2023 /PRNewswire/ -- Kellogg Company and Albertsons Companies, one of the largest food and drug retailers in the United States, have joined forces for the third consecutive year to tackle the ongoing issue of hunger in the communities they serve. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. BOISE, Idaho-- ( BUSINESS WIRE )--Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the fourth quarter of fiscal 2020 and full year fiscal 2020, which ended . Albertsons Companies, Inc. : Unregistered Sale of Equity Securities, Other Events (form 8-.. Albertsons Companies, Inc. : Change in Directors or Principal Officers (form 8-K). 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. Reflects the per share impact of Non-GAAP adjustments for each period. View the, https://www.businesswire.com/news/home/20230301005323/en/, @ the Bell: Financials drag TSX after downbeat results, @ the Bell: TSX rebounds from 2023s worst weekly selloff. The Company will hold a conference call today at 8:30 a.m. Eastern Time, which will be hosted by Vivek Sankaran, CEO, and Sharon McCollam, President & CFO. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. melissa.plaisance@albertsons.com | 925-226-5115, Albertsons Companies, Inc. Reports Third Quarter Fiscal 2021 Results, https://investor.albertsonscompanies.com/Event-Calendar, https://www.businesswire.com/news/home/20220111005233/en/, Do Not Sell or Share My Personal Information, Identical sales increased 5.2%; on a two-year stacked basis identical sales growth was 17.5%, Digital sales increased 9%; on a two-year stacked basis digital sales growth was 234%, Net income of $425 million, or $0.74 per Class A common share, Adjusted net income of $457 million, or $0.79 per Class A common share, Identical sales in fiscal 2021 in the range of (0.8%) to (1.2%) (previously (2.5%) to (3.5%)), representing two-year stacked growth of 15.7% to 16.1% (previously 13.4% to 14.4%), Adjusted EBITDA in the range of $4.25 billion to $4.30 billion (previously $3.95 billion to $4.05 billion), Adjusted net income per Class A common share in the range of $2.90 to $2.95 per share (previously $2.50 to $2.60 per share), Effective tax rate in the range of 22.5% to 23.5% (previously 23% to 24%), Capital expenditures in the range of $1.8 billion to $1.9 billion (previously $1.9 billion to $2.0 billion). We also use them to share usage information with our partners. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. New omnichannel campaign brings to life new "Sincerely" brand platform, capturing the company's commitment to know, nourish and care for its customers. To view or download images and other creative assets from the Sincerely, Food campaign, click here. Under the terms of the Merger Agreement, Kroger (through Kettle Merger Sub, Inc.) will acquire all of the outstanding shares of the Company's common stock and convertible preferred stock (on an as-converted basis) for total consideration of $34.10 per share, subject to certain reductions including the Special Dividend (as defined below). Real-time Estimate Cboe BZX 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. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. BOISE, Idaho--(BUSINESS WIRE)-- Financial Market Data powered by QuoteMedia. On October 13, 2022, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with The Kroger Company ("Kroger") and Kettle Merger Sub, Inc. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 4, The current labor shortages could also impact our ability to negotiate acceptable contracts with labor unions which could result in strikes by affected workers and thereby significantly disrupt our operations. (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. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. "Each Albertsons Companies banner has its own unique history and local identity. 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. Melissa Plaisance I want to thank all of our teams for their commitment to serving our customers and living our values every day. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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. The Company believes these supplemental comparisons provide meaningful and useful information to investors about the trends in its business relative to pre-COVID-19 pandemic periods. Launch of Albertsons Media Collective offers next generation growth engine to partners, centered around customer service and data privacy. Enter Promo Code SAVE30 at checkout. 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. You can sign up for additional alert options at any time. The Special Dividend was to be paid on November 7, 2022. Today the Company announced the next quarterly dividend of $0.12 per share of Class A common stock payable on February 10, 2022 to stockholders of record as of January 26, 2022. "Also driving these results was our continued focus on in-store excellence, acceleration of our digital and omnichannel capabilities, and delivery of our productivity initiatives. Includes gains of $19.0 million and $106.3 million during the second quarter of fiscal 2022 and fourth quarter of fiscal 2021, respectively, and the $607.2 million charge in the fourth quarter of fiscal 2020 related to the withdrawal from the Combined Plan. (8) Reflects the per share impact of Non-GAAP adjustments for each period. Income tax expense was $98.4 million, representing a 18.8% effective tax rate, during the third quarter of fiscal 2021 compared to $29.5 million, representing a 19.3% effective tax rate, during the third quarter of fiscal 2020. 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. See weekly ads, join or log in to your Rewards account, shop online, and find the closest grocery store. https://www.businesswire.com/news/home/20230301005323/en/, Do Not Sell My Personal Data/Privacy Policy. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. For more information, please. Adjustments to reconcile net income to net cash provided by operating activities: Gain on property dispositions and impairment losses, net, Operating lease right-of-use assets amortization, Contributions to pension and post-retirement benefit plans, net of (income) expense, Gain on interest rate swaps and energy hedges, net. For Media Relations, contact media@albertsons.com, Albertsons Companies, Inc. Reports Third Quarter Fiscal 2022 Results, https://www.albertsonscompanies.com/investors/overview/, Do Not Sell or Share My Personal Information, Loyalty members increased 16% to 33 million, Net income of $376 million, or $0.20 per share, Adjusted net income of $505 million, or $0.87 per share. 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. 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. Albertsons Companies, Inc. ACI today announced the launch of Sincerely, Food an omnichannel marketing campaign celebrating the company's purpose to bring people together around the joys of food and to inspire well-being. On November 3, 2022, a commissioner for the Superior Court of King County (the "Superior Court") issued a temporary restraining order against the payment of the Special Dividend. EBITDA, Adjusted EBITDA, Adjusted net income, Adjusted net income per Class A common share and Net debt ratio (collectively, the "Non-GAAP Measures") are performance measures that provide supplemental information the Company believes is useful to analysts and investors to evaluate its ongoing results of operations, when considered alongside other GAAP measures such as net income, operating income, gross margin, and net income per Class A common share. See. Excluding the impact of fuel, gross margin rate increased by approximately 40 basis points compared to the third quarter of fiscal 2019, primarily driven by sales leverage, productivity initiatives and improved pharmacy margins related to administering COVID-19 vaccines, partially offset by growth in digital sales and an increase in product and supply chain costs driven by the current inflationary environment. Albertsons Companies is a leading food and drug retailer in the United States. See the reconciliation of Net income to Adjusted net income above for further details. BOISE, Idaho--(BUSINESS WIRE)--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. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. July 25, 2022. View source version on businesswire.com: 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. 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.. Kirby Nardo, Albertsons Cos. 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. (9) Represents incremental unvested RSUs and unvested 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. 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. Other expense, net was $1.7 million during the third quarter of fiscal 2022 compared to other income, net of $38.3 million during the third quarter of fiscal 2021. NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. 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. Benzinga does not provide investment advice. 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. 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. The Company is providing an updated fiscal 2021 outlook and now expects: The Company is unable to provide a full reconciliation of the GAAP and Non-GAAP Measures (as defined below) used in the updated fiscal 2021 outlook without unreasonable effort because it is not possible to predict certain of the adjustment items with a reasonable degree of certainty. 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). Each Albertsons Companies banner has its own unique history and local identity. Albertsons Companies Inc., whose market valuation is $10.97 billion at the time of this writing, is expected to release its quarterly earnings report Apr 10, 2023 - Apr 14, 2023. 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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. 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/. In 1939, Joe Albertson, a former Safeway district manager, took $5,000 he saved and $7,500 he borrowed from his wife's Aunt Bertie, and partnered with L.S. Companies banner has its own unique history and local identity, Do Not Sell My Personal information due recent... To helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood of and... To recent COVID-19 variants resulting in transportation and Retail store disruptions in Boise, Idaho meaningful useful. Business WIRE ) -- Financial Market Data powered by QuoteMedia following the of! //Www.Businesswire.Com/News/Home/20230301005323/En/, Do Not Sell My Personal Data/Privacy Policy Compared to the third Quarter of Fiscal 2020 at AMC albertsons.com! A leading food and drug retailer in the United States sign up for alert... Weekly ads, join or log in to your Rewards account, shop online, Schottenstein... 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