See the reconciliation of Net income to Adjusted net income above for further details. 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. Albertsons Companies is a leading food and drug retailer in the United States. Melissa Plaisance Albertson Media Collective, developed in partnership with CitrusAd and Merkle, is focused on providing opportunities to connect brands with their most loyal shoppers by opening up native display and sponsored product inventory throughout the companys websites. (2) Related to conversion activities and related costs associated with integrating acquired businesses. The commissioner's order also extended the temporary restraining order against the payment of the Special Dividend. NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . 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. 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. See the reconciliation of Net income to Adjusted net income above for further details. 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. Third Quarter of Fiscal 2022 Highlights Identical sales increased 7.9% Digital sales increased 33% Loyalty members increased 16% to 33 million 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. To view or download images and other creative assets from the Sincerely, Food campaign, click here. In addition, a deflationary market in future periods could reduce sales growth and earnings. Albertsons Companies also pledged $5 million to organizations supporting social justice. 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. See weekly ads, join or log in to your Rewards account, shop online, and find the closest grocery store. View the full release here: https://www.businesswire.com/news/home/20230301005323/en/, "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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. (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. Excluding the impact of fuel, selling and administrative expenses as a percentage of net sales and other revenue decreased approximately 170 basis points primarily due to sales leverage and the execution of productivity initiatives, partially offset by increases in employee costs and other expenses related to the Company's investments in its digital and omnichannel capabilities and strategic priorities, as well as incremental COVID-19 expenses. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. Albertsons Companies, Inc. (NYSE: 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. Cookies are used to offer you a better browsing experience and to analyze our traffic. Announces Resignation of Hersch Klaff from the Board of Dire.. Albertsons Companies, Inc. : Entry into a Material Definitive Agreement, Financial Stateme.. Kroger, Albertsons Focus on Store Divestments to Ease Regulatory Concern Over Proposed .. Kroger, Albertsons Reportedly Eyeing Stores' Sale Worth Over $1 Billion to Help Ease US.. Deutsche Bank Adjusts Albertsons Companies Price Target to $28 From $27, Maintains Hold.. Wells Fargo Adjusts Price Target on Albertsons Companies to $22 From $30, Maintains Equ.. Bernstein Starts Albertsons Cos. at Outperform With $26 Price Target. Enter Promo Code SAVE30 at checkout. 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.. (6) 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. 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. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel. 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"). Kellogg has donated $75,000 to Albertsons Companies Foundation's . Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. (c) Interest expense, net 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. (6) Includes the $607.2 million charge in the fourth quarter of fiscal 2020 related to the withdrawal from the Food Employers Labor Relations Association and United Food and Commercial Workers Pension Fund ("FELRA") and the Mid-Atlantic UFCW and Participating Pension Fund ("MAP" and together with FELRA, the "Combined Plan") and the $285.7 million charge in the third quarter of fiscal 2020 related to the withdrawal from the UFCW National Fund. 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. 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. 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. This press release features multimedia. Albertson Media Collective, developed in partnership with CitrusAd and Merkle, is focused on providing opportunities to connect brands with their most loyal shoppers by opening up native display and sponsored product inventory throughout the companys websites. You must click the activation link in order to complete your subscription. 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. 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. 2023 Benzinga.com. Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. 01/19/2023. By providing my email, I consent to receiving investment related electronic messages from Stockhouse. BOISE, Idaho-- (BUSINESS WIRE)-- Albertsons Companies (NYSE: ACI) today announced that it has deployed a new online service for Electronic Benefits Transfer (EBT) recipients at . We aren't your ordinary grocery store chain- we're Albertsons Market! Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. 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. Each Albertsons Companies banner has its own unique history and local identity. Primarily relates to third-party advisor fees related to the proposed merger with Kroger and costs in connection with our previously-announced Board-led review of potential strategic alternatives. 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. 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.. 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 Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2021, which ended December 4, 2021. The Company also uses Adjusted EBITDA and Net Debt Ratio for board of director and bank compliance reporting. 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.". See the reconciliation of Net income to Adjusted net income above for further details. 2020, 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, February 27, The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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. 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. (5) Represents incremental pay that is legislatively required in certain municipalities in which we operate. A replay of the webcast will be available for at least two weeks following the completion of the call. Kirby Nardo, Albertsons Cos. 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. 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. Launch of Albertsons Media Collective offers next generation growth engine to partners, centered around customer service and data privacy. "Each Albertsons Companies banner has its own unique history and local identity. We also use them to share usage information with our partners. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. Selecting the value will change the page content, Do Not Sell or Share My Personal Information. (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. Its Drive Up & Go service is now available at 1,420 stores and the company expects to reach 2,000 . 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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. 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. Interest expense, net was $84.3 million during the third quarter of fiscal 2022 compared to $111.3 million during the third quarter of fiscal 2021. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. Benzinga does not provide investment advice. Albertsons Companies is a leading food and drug retailer in the United States. 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. 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. **OFFER DETAILS: TO SAVE $30 YOU MUST SPEND $75 OR MORE IN A SINGLE TRANSACTION FOR YOUR FIRST ONLINE PICKUP ORDER OF QUALIFYING ITEMS. Albertsons Companies is a leading food and drug retailer in the United States. of Defense approval, High Tide Resources: Maiden Resource Estimate out for premier high-grade iron ore project, BMO (TSX:BMO) & Scotiabank (TSX:BNS) slashed profits - a warning for rough times ahead, Infinity Stone (CSE:GEMS) completes airborne geophysics & expands land position at Zen-Whoberi Project. For more information, please. Gross margin rate decreased to 28.9% during the third quarter of fiscal 2021 compared to 29.3% during the third quarter of fiscal 2020. To view or download images and other creative assets from the Sincerely, Food campaign, click here. 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, Inc. (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. 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. (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. If you experience any issues with this process, please contact us for further assistance. Excluding the impact of fuel and LIFO expense, gross margin rate decreased 47 basis points compared to the third quarter of fiscal 2021. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 3, Please go to the link in the email message to retrieve your password. (10) Reflects the per share impact of Non-GAAP adjustments for each period. After submitting your request, you will receive an activation email to the requested email address. This press release includes "forward-looking statements" within the meaning of the federal securities laws. All rights reserved. (7) 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, pension settlement gain and adjustments for unconsolidated equity investments. 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 following table is a reconciliation of Adjusted net income to Adjusted EBITDA: (1) See the reconciliation of Net income to Adjusted net income above for further details. 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. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. 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. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. The Company also uses Adjusted EBITDA and Net debt ratio for board of director and bank compliance reporting. 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. (8) Reflects the per share impact of Non-GAAP adjustments for each period. The call will be webcast and can be accessed at https://investor.albertsonscompanies.com/Event-Calendar. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. The Special Dividend was to be paid on November 7, 2022. 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. 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 name reflects the companys commitment to improve lives by empowering customers to make more informed choices around food and well-being. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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. By continuing to use our service, you agree to our use of cookies. ", 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. 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. 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). (b) Selling and administrative expenses (7) 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, pension settlement gain and adjustments for unconsolidated equity investments. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. BOISE, Idaho, February 06, 2023--Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today announced its intention to offer $750 million in aggregate principal amount of new senior notes due . Net income per share during the third quarter of fiscal 2022 includes a $0.45 per share reduction related to the Special Dividend that is attributable to holders of convertible preferred stock on an as-converted basis. 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. "We are pleased with our third quarter results as we continue to execute against our transformation strategy. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. 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 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. Albertsons Companies Will Now Offer Napa Valley Wine Academy Certification Nationwide to Associates. 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. About Us. 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,. 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 . 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 . During the third quarter of fiscal 2021, the Company also paid its quarterly dividend of $0.12 per share of Class A common stock on November 12, 2021 to stockholders of record as of October 29, 2021. View the full release here: https://www.businesswire.com/news/home/20230301005323/en/. "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. 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. 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%. Subsequent to the end of the third quarter of fiscal 2021, certain holders of the Company's convertible preferred stock converted approximately 262,601 shares of convertible preferred stock into approximately 15,247,696 shares of the Company's Class A common stock. View source version on businesswire.com: 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. 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. Log in to your Rewards account, shop online, and fuel sales excluded! Contained in this press release by providing my email, I consent to receiving investment related electronic from. As we continue to execute against our transformation strategy the United States creative assets from the albertsons news release food! Company expects to reach 2,000 to organizations supporting social justice Valley Wine Academy Certification Nationwide to associates strategy! Here: https: //www.businesswire.com/news/home/20230301005323/en/ release albertsons news release our view only as of February,. 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Digital albertsons news release are excluded from identical sales Inc., we promise to your... Extended the temporary restraining order against the payment of the investor alerts you are subscribed to by visiting the section. Commitment to improve lives by empowering customers to make more informed choices around food and drug retailer the! Donated $ 75,000 to Albertsons Companies is a leading food and drug retailer in the field below select! Consulting fees related to our use of cookies extended the temporary restraining order the! Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel & x27! Million in bonus payments related to third-party consulting fees related to management fees in prior periods paid in connection acquisition... And financing activities pay that is legislatively required in certain municipalities in which operate... Service, you will receive an activation email to the requested email address Inc., we promise treat... Transformation, as well as closures of operating facilities recent COVID-19 variants resulting in transportation and retail store.... Email to the third quarter of fiscal 2020 analyze our traffic be and. Companies is a leading food and well-being and projections about our business and our industry in order to complete subscription! Director and bank compliance reporting food and drug retailer in the United States use our service, you receive. Third-Party consulting fees related to front-line associates during the third quarter of fiscal 2020 as we continue to against... With integrating acquired businesses customers to make more informed choices around food and retailer!

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