(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. The following table is a reconciliation of Net Debt Ratio on a rolling four quarter basis: Total debt (including finance leases and excluding operating leases), Total debt net of cash and cash equivalents. These Non-GAAP Measures exclude the financial impact of items management does not consider in assessing the Company's ongoing core operating performance, and thereby provide useful measures to analysts and investors of its operating performance on a period-to-period basis. 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. (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. https://www.businesswire.com/news/home/20220111005233/en/, Media Contact: Offer Expires 01/12/24. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. Please go to the link in the email message to retrieve your password. 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. To view or download images and other creative assets from the Sincerely, Food campaign, click here. Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. 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. Brand campaigns will begin February 27, 2022, and allow partners to access some of the most valuable positions across Albertsons Companies websites and apps, tapping into over 100 million shoppers across the country, including more than 2,200 store locations and over 27 million members of the companys Just for U loyalty program. 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, Proceeds from issuance of long-term debt, including ABL facility, Payments on long-term borrowings, including ABL facility, Payments of obligations under finance leases, Payment of redemption premium on debt extinguishment, Dividends paid on convertible preferred stock, Employee tax withholding on vesting of restricted stock units, Net cash provided by (used in) financing activities, 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. The call will be webcast and can be accessed at https://investor.albertsonscompanies.com/Event-Calendar. Albertsons Companies, Inc. 1 Based on combined results for each company's most recent fiscal year, respectively. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. 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. 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. View source version on businesswire.com: This press release includes "forward-looking statements" within the meaning of the federal securities laws. on your first DriveUp & Go order when you spend $75 or more**. (8) Reflects the per share impact of Non-GAAP adjustments for each period. By default, joining or signing in using your Facebook account will work and the email address will be shared by Facebook automatically. 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. 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 . 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. 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. 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 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. 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. Picks For You. Non-GAAP Measures. 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 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, 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 following table provides a comparison of the third quarter of fiscal 2021 to the 12 weeks ended November 30, 2019 ("third quarter of fiscal 2019") for certain financial measures, including a compounded annual growth rate ("CAGR"), to demonstrate the two-year growth in the Company's business. The Company also uses Adjusted EBITDA and Net Debt Ratio for board of director and bank compliance reporting. (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. 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. Excluding the impact of fuel and LIFO expense, gross margin rate decreased 47 basis points compared to the third quarter of fiscal 2021. 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. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. 2023 Benzinga.com. (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 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. 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. Represents incremental pay that is legislatively required in certain municipalities in which we operate. 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. 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. The Company operates stores across 34 states and the District of Columbia under 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 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. Meanwhile, our latest consensus estimate is . The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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 also pledged $5 million to organizations supporting social justice. 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. EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted net income per Class A common share (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. 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. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. Its Drive Up & Go service is now available at 1,420 stores and the company expects to reach 2,000 . Separate from the Merger Agreement, on October 13, 2022, the Company declared a special cash dividend of $6.85 per share (the "Special Dividend"), payable to stockholders of record, including holders of convertible preferred stock on an as-converted basis, as of the close of business on October 24, 2022. 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. 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. 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. 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. 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. 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. We aren't your ordinary grocery store chain- we're Albertsons Market! The dividend yield on the company stock is 2.37%, while its Forward Dividend ratio is 0.48. 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. 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%. 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. The platform will be carried out across the company’s various grocery banners and customer experiences. The increase in gross margin rate was primarily due to productivity initiatives, improved pharmacy margins related to administering COVID-19 vaccines and favorable product mix, largely offset by lower gross margin rates across certain product categories due to the rate impact of increased product costs driven by the current inflationary environment, as well as higher supply chain costs. 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. Announces Proposed Senior Notes Offering. 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. 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.. 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 platform will be carried out across the companys various grocery banners and customer experiences. 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. 2022, 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. Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. Non-GAAP adjustment classifications within the Consolidated Statement of Operations: Albertsons Companies is a leading food and drug retailer in the United States. Includes the $19.0 million gain during the second quarter of fiscal 2022 related to the withdrawal in fiscal 2020 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"). Forward-looking statements contained in this press release reflect our view only as of the date of this press release. 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. -, 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/. (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. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. Albertsons Companies, Inc. (ACI Quick Quote ACI - Free Report) closed the most recent trading day at $20.24, moving -1.46% from the previous trading session. 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. The platform will be carried out across the company's various grocery banners and customer experiences. 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. 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. "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.". Skaggs to open his first Albertsons store on 16th and State Streets in Boise, Idaho. 2021, December 5, 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. (a) Cost of sales "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. The name reflects the companys commitment to improve lives by empowering customers to make more informed choices around food and well-being. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. 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, 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. SAN FRANCISCO, Jan. 27, 2022 /PRNewswire/ -- Albertsons Companies (NYSE: ACI ) will enhance its fresh offering with Afresh Technologies' AI-powered predictive ordering and inventory solutions to. Enter Promo Code SAVE30 at checkout. 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. We are unable to predict whether the current inflationary environment will continue or whether a deflationary trend will occur. 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. Excluding the impact of fuel, gross margin rate increased 10 basis points compared to the third quarter of fiscal 2020. 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 . (4) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. Also includes expenses related to acquisitions and expenses related to management fees paid in connection with acquisition and financing activities. The Company's capital allocation strategy is balanced, prioritizing capital investment to drive future growth, continued deleveraging of the balance sheet, and the return of capital to stockholders via quarterly dividends and opportunistic share repurchases, all anchored on strong and consistent free cash flow. 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. 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