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. 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. This press release includes "forward-looking statements" within the meaning of the federal securities laws. 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 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. The increase was driven by the Company's 7.9% increase in identical sales and higher fuel sales, with retail price inflation as the primary driver of the identical sales increase. 2021, Loss (gain) on property dispositions and impairment losses, net, Basic net income per Class A common share, Diluted net income per Class A common share, Weighted average Class A common shares outstanding (in millions), February 26, The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. See the reconciliation of Net income to Adjusted net income above for further details. Kellogg has donated $75,000 to Albertsons Companies Foundation's . (2) Related to conversion activities and related costs associated with integrating acquired businesses. Skaggs to open his first Albertsons store on 16th and State Streets in Boise, Idaho. Supplemental Two-Year Results - Third Quarter of Fiscal 2021 Compared to Third Quarter of Fiscal 2019. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. Offer Expires 01/12/24. The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. Non-GAAP Measures. Gross margin rate increased to 28.9% during the third quarter of fiscal 2021 compared to 28.3% during the third quarter of fiscal 2019. The name reflects the company's commitment to improve lives by empowering customers to make more informed choices around food and well-being. (5) Represents incremental pay that is legislatively required in certain municipalities in which we operate. 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 . We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. (a) Cost of sales As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated. Announces Proposed Senior Notes Offering. 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. Third Quarter of Fiscal 2022 Highlights Identical sales increased 7.9% Digital sales increased 33% Loyalty members increased 16% to 33 million 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. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. 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. 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 . 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. https://www.businesswire.com/news/home/20230301005323/en/, Do Not Sell My Personal Data/Privacy Policy. 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. Melissa Plaisance All rights reserved. (5) Primarily includes costs related to store damage, inventory losses and community support as a result of civil disruption during late May 2020 and early June 2020 in certain markets. 01/19/2023. The Kroger Co. and Albertsons Companies Inc are still on track to divest 250 to 300 stores as part of their effort to dispel antitrust issues regarding their proposed merger plan. Sincerely is the common thread through all of these, and it allows us to recognize the rich heritage associated with every banner, said Sean Barrett, Chief Marketing Officer for Albertsons Cos. As a company, were dedicated to earning customers for life, and our brand platform now supports and celebrates this commitment. 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.. Albertsons Companies is a leading food and drug retailer in the United States. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Carlin and C.A . The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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. 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. Albertsons Companies is a leading food and drug retailer in the United States. In evaluating our financial results and forward-looking statements, you should carefully consider the risks and uncertainties more fully described in the "Risk Factors" section or other sections in our reports filed with the SEC including the most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Additional Information and Where to Find It. $30 Off. Selecting the value will change the page content, Do Not Sell or Share My Personal Information. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. Albertsons Companies is a leading food and drug retailer in the United States. 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. 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. 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. Net sales and other revenue was $16.7 billion during the 12 weeks ended December 4, 2021 ("third quarter of fiscal 2021") compared to $15.4 billion during the 12 weeks ended December 5, 2020 ("third quarter of fiscal 2020"). BOISE, Idaho--(BUSINESS WIRE)-- This press release features . https://www.businesswire.com/news/home/20220111005233/en/, Media Contact: 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. 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. 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. Supplemental, (Gain) loss on interest rate and commodity hedges, net (d), Facility closures and transformation (1)(b), Discretionary COVID-19 pandemic related costs (3)(b), Government-mandated incremental COVID-19 pandemic related pay (4)(b), Transaction and reorganization costs related to convertible preferred stock issuance and initial public offering (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. Kroger, the second largest grocery store chain, purchased the fourth largest, Albertsons, for an estimated total enterprise value of $24.6 billion, the company announced in a news release Friday . 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. New omnichannel campaign brings to life new Sincerely” brand platform, capturing the company’s commitment to know, nourish and care for its customers. Kroger, the second largest grocery store chain, purchased the fourth largest, Albertsons, for an estimated total enterprise value of $24.6 billion, the company announced in a news release Friday . The increase was driven by the Company's 5.2% increase in identical sales, as well as higher fuel sales and sales related to stores acquired and opened since the third quarter of fiscal 2020. Adjustments to reconcile net income to net cash provided by operating activities: Operating lease right-of-use assets amortization, Contributions to pension and post-retirement benefit plans, net of (income) expense, (Gain) loss on interest rate swaps and commodity hedges, net. (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. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. With last week's announcement of C.A. A replay of the webcast will be available for at least two weeks following the completion of the call. Once the SEC has no further comments, the Company will mail the definitive information statement to the Company's stockholders. The Company also uses Adjusted EBITDA and Net Debt Ratio for board of director and bank compliance reporting. 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. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. Based in our Sincerely’ brand platform, the campaign showcases our commitment to know, nourish and care for our customers by delivering on our company’s purpose.” The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. ", Third Quarter of Fiscal 2021 Results Compared to Third Quarter of Fiscal 2020. The Special Dividend was to be paid on November 7, 2022. By providing my email, I consent to receiving investment related electronic messages from Stockhouse. 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. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. "We are pleased with our third quarter results as we continue to execute against our transformation strategy. 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. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. This press release features multimedia. (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. Please go to the link in the email message to retrieve your password. Gross margin rate decreased to 28.2% during the third quarter of fiscal 2022 compared to 28.9% during the third quarter of fiscal 2021. We are unable to predict whether the current inflationary environment will continue or whether a deflationary trend will occur. 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 12 weeks ended December 4, 2021, December 5, 2020 and November 30, 2019: November 30, 2019 (b) Selling and administrative expenses 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 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. 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 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. 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. 1 Based on combined results for each company's most recent fiscal year, respectively. View the full release here: https://www.businesswire.com/news/home/20230301005323/en/. BOISE, Idaho, June 18, 2020 (GLOBE NEWSWIRE) -- Albertsons Companies, Inc. ("Albertsons" or the "Company") announced today the commencement of an initial public offering of 65,800,000 shares of . Third Quarter of Fiscal 2021 "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. Real-time Estimate Cboe BZX This information is dependent upon future events and may be outside of the Company's control and could have a significant impact on its GAAP financial results for fiscal 2021. 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. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. Albertsons Companies is a leading food and drug retailer in the United States. Sincerely is the common thread through all of these, and it allows us to recognize the rich heritage associated with every banner," said Sean Barrett, Chief Marketing Officer for Albertsons Cos. "As a company, we're dedicated to earning customers for life, and our brand platform now supports and celebrates this commitment. Its Drive Up & Go service is now available at 1,420 stores and the company expects to reach 2,000 . 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. 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. 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. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 3, Kellogg has donated $75,000 to Albertsons Companies Foundation's Nourishing Neighbors Initiative, a charitable program of the Albertsons Companies Foundation benefiting the hunger-relief efforts . The call will be webcast and can be accessed at https://investor.albertsonscompanies.com/Event-Calendar. 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. 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,. Copyright 2023 Surperformance. 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. 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. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. We aren't your ordinary grocery store chain- we're Albertsons Market! 2021, December 5, 2021, Current maturities of long-term debt and finance lease obligations, Current maturities of operating lease obligations, Long-term debt and finance lease obligations, TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY, Condensed Consolidated Statements of Cash Flows. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. Non-GAAP adjustment classifications within the Condensed Consolidated Statements of Operations: (d) Loss (gain) on interest rate swaps and energy hedges, net: Total Loss (gain) on interest rate swaps and energy hedges, net. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Benzinga does not provide investment advice. 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. Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. At the same time, our ongoing productivity engine is expected to continue to support our investments and partially offset anticipated inflationary cost increases, declines in COVID-19 vaccination and at-home test kit revenue, and macro-consumer headwinds.". Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2021, which ended December 4, 2021. https://www.businesswire.com/news/home/20211111006049/en/, Kirby Nardo, Albertsons Cos. 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. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans' outreach. Non-GAAP adjustment classifications within the Consolidated Statement of Operations: