(3) Primarily due to gains related to sale leaseback transactions in the second quarter of fiscal 2019. 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. 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.". **OFFER DETAILS: TO SAVE $30 YOU MUST SPEND $75 OR MORE IN A SINGLE TRANSACTION FOR YOUR FIRST ONLINE PICKUP ORDER OF QUALIFYING ITEMS. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The decrease in selling and administrative expenses was primarily attributable to lower COVID-19 related expenses and the execution of productivity initiatives, which were offset by higher employee costs, depreciation and other expenses related to the Company's investments in its digital and omnichannel capabilities and other strategic priorities. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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. 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. These conversions represented approximately 15% of the convertible preferred stock outstanding as of the end of the third quarter of fiscal 2021. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. 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 believes these supplemental comparisons provide meaningful and useful information to investors about the trends in its business relative to pre-COVID-19 pandemic periods. This move lagged the S&P 500's daily . Cookies are used to offer you a better browsing experience and to analyze our traffic. 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. 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. 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 . On November 1, 2022, the Attorney General for the State of Washington ("Washington Attorney General") filed a motion for a temporary restraining order to prevent the payment of the Special Dividend. This press release features multimedia. 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 About Us. 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. Net income was $375.5 million, or $0.20 per share, during the third quarter of fiscal 2022 compared to $424.5 million, or $0.74 per share, during the third quarter of fiscal 2021. Excluding the impact of fuel, 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. Meanwhile, our latest consensus estimate is . 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 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. $30 Off. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. 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. (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. Please go to the link in the email message to retrieve your password. To view or download images and other creative assets from the Sincerely, Food campaign, click here. In 2020, along with the Albertsons Companies Foundation, the Company gave $260 million in food and financial support, including approximately $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. 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. For Investor Relations, contact investor-relations@albertsons.com As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel. Albertsons Companies is a leading food and drug retailer in the United States. 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. 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. (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. Also includes expenses related to acquisitions and expenses related to management fees paid in connection with acquisition and financing activities. 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.. To view or download images and other creative assets from the Sincerely, Food campaign, click here. 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 is a leading food and drug retailer in the United States. A favorable economic backdrop together with the heroic performance of our frontline retail, distribution, and manufacturing teams contributed to these better-than-expected results," said Vivek Sankaran, CEO. 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. See the reconciliation of Net income to Adjusted net income above for further details. 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. Albertsons Companies is a leading food and drug retailer in the United States. 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. (2) Related to conversion activities and related costs associated with integrating acquired businesses. 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. Selling and administrative expenses decreased to 25.0% of Net sales and other revenue during the third quarter of fiscal 2022 compared to 25.4% 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. 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. 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. 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. Albertsons Companies Will Now Offer Napa Valley Wine Academy Certification Nationwide to Associates. "Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results. 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. New omnichannel campaign brings to life new Sincerely” brand platform, capturing the company’s commitment to know, nourish and care for its customers. -, 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/. 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. We expect the economic environment to remain uncertain as we navigate the COVID-19 pandemic, labor challenges and the current inflationary environment. An email was sent with password retrieval instructions. Launch of Albertsons Media Collective offers next generation growth engine to partners, centered around customer service and data privacy. 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. Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . 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. 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. 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.. View source version on businesswire.com: Blue Buffalo Partners with Actress and Real-Life Cat Lover Angela Kinsey for National Sleep Overton Brooks VA Medical Center Executes Contract for 10 Knightscope (Nasdaq: KSCP) K1 Blue ComEd Expands Drone Program With Remotely Piloted Drones to Enhance Operations, Intermap Receives First Task Order for U.S. Department of the Interior IDIQ Prime Contract, INEO Achieves 50% Growth with Record Quarterly Revenue in Fiscal Second Quarter, The Next Gold Rush will Gold hit $3,500/oz in 2023? On December 9, 2022, the Superior Court ruled in favor of the Company and denied the Washington Attorney General's request for a preliminary injunction, but extended the temporary restraining order in order for the Washington Attorney General to seek review from the Washington Supreme Court. 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. All rights reserved. (2) Related to conversion activities and related costs associated with integrating acquired businesses. 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. 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. 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 company's ever-growing network of shoppers. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. Our ability to meet labor needs, control wage and labor-related costs and minimize labor disruptions will be key to our success of operating our business and executing our business strategies. Enter Promo Code SAVE30 at checkout. Albertsons Companies is a leading food and drug retailer in the United States. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business, our industry, the outcome of the Merger and the payment of the Special Dividend. This press release includes "forward-looking statements" within the meaning of the federal securities laws. With last week's announcement of C.A. Offer Expires 01/12/24. Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. See the reconciliation of Net income to Adjusted net income above for further details. Excluding the impact of fuel and the $285.7 million charge related to the withdrawal from the United Food and Commercial Workers International Union ("UFCW") Union-Industry Pension Fund ("National Fund") during the third quarter of fiscal 2020, selling and administrative expenses as a percentage of net sales and other revenue decreased 20 basis points. (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. 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). A replay of the webcast will be available for at least two weeks following the completion of the call. 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. Skaggs to open his first Albertsons store on 16th and State Streets in Boise, Idaho. 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. While certain aspects of our financial results have been favorably impacted by increased demand during the COVID-19 pandemic, in addition to favorable consumer conditions including incremental financial assistance provided by various government agencies, our business continues to experience challenges to meet customer demand. 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. 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. 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. 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 . 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. 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. 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. Copyright 2023 Surperformance. 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. 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. 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. 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. 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. About advertising opportunities and find out more about Albertsons Cos. FY 2021 and data privacy and Albertsons Cos. visit... The completion of the call acquisition and financing activities third quarter of fiscal 2019 Sincerely! 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