They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. To view or download images and other creative assets from the Sincerely, Food campaign, click here. 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. This move lagged the S&P 500's daily . BOISE, Idaho--(BUSINESS WIRE)-- On December 19, 2022, the commissioner of the Washington Supreme Court announced that the Court will, sitting en banc, consider the Washington Attorney General's application for review. Through digital properties, in-store signage, traditional and social media, Sincerely takes a heartwarming approach to showing how Albertsons Cos. customers' daily moments and special occasions are celebrated through food. melissa.plaisance@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). The name reflects the company's commitment to improve lives by empowering customers to make more informed choices around food and well-being. 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. 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. 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. 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 (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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. "We are pleased with our third quarter results as we continue to execute against our transformation strategy. Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . Albertsons Companies is a leading food and drug retailer in the United States. 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. View source version on businesswire.com: See the reconciliation of Net income to Adjusted net income above for further details. Net sales and other revenue was $16.7 billion during the third quarter of fiscal 2021 compared to $14.1 billion during the third quarter of fiscal 2019. For Investor Relations, contact investor-relations@albertsons.com (5) Represents incremental pay that is legislatively required in certain municipalities in which we operate. All rights reserved. https://www.businesswire.com/news/home/20211111006049/en/, Kirby Nardo, Albertsons Cos. 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. The Company has filed with the Securities and Exchange Commission ("SEC") a preliminary information statement on Schedule 14C with respect to the approval of the merger between the Company and Kroger, which is subject to SEC comment. (2) Related to conversion activities and related costs associated with integrating acquired businesses. 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. 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. 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. The favorability in the effective income tax rate in the third quarter of fiscal 2021 was primarily driven by incremental discrete state income tax benefits related to expired statutes and audit settlements. Adjusted EBITDA was $1,158.0 million, or 6.4% of Net sales and other revenue, during the third quarter of fiscal 2022 compared to $1,051.2 million, or 6.3% of Net sales and other revenue, during the third quarter of fiscal 2021. The name reflects the company’s commitment to improve lives by empowering customers to make more informed choices around food and well-being. (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. 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'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. (a) Cost of sales The Company will hold a conference call today at 8:30 a.m. Eastern Time, which will be hosted by Vivek Sankaran, CEO, and Sharon McCollam, President & CFO. Albertsons Companies is a leading food and drug retailer in the United States. 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. 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. 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. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel. https://www.businesswire.com/news/home/20230301005323/en/, Do Not Sell My Personal Data/Privacy Policy. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. 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. Adjusted net income was $505.1 million, or $0.87 per share, during the third quarter of fiscal 2022 compared to $457.2 million, or $0.79 per share, during the third quarter of fiscal 2021. Once the SEC has no further comments, the Company will mail the definitive information statement to the Company's stockholders. 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. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. The following table is a reconciliation of Adjusted net income to Adjusted EBITDA: Includes costs associated with third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. 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. Financial Market Data powered by QuoteMedia. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. 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. 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. 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"). 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. Albertsons Companies is a leading food and drug retailer in the United States. Albertsons Companies also pledged $5 million to organizations supporting social justice. 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 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. You may obtain copies of all documents filed by the Company with the SEC regarding this transaction, free of charge, at the SEC's website, www.sec.gov or from the Company's website at https://www.albertsonscompanies.com/investors/overview/. Please go to the link in the email message to retrieve your password. 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. Third Quarter of Fiscal 2021 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. 2022, December 4, With last week's announcement of C.A. 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, 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. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. 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. Cookies are used to offer you a better browsing experience and to analyze our traffic. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. Other income, net was $38.3 million during the third quarter of fiscal 2021 compared to $19.2 million during the third quarter of fiscal 2020. 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. July 25, 2022. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. We aren't your ordinary grocery store chain- we're Albertsons Market! To learn more about Albertsons Cos., visit albertsonscompanies.com. (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. 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 . 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. 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. Albertsons Companies, Inc. To view or download images and other creative assets from the Sincerely, Food campaign, click here. 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. The decrease in the effective income tax rate was primarily driven by incremental discrete state income tax benefits related to expired statutes and audit settlements during the third quarter of fiscal 2021. An email was sent with password retrieval instructions. 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. Albertsons Companies, Inc. : Unregistered Sale of Equity Securities, Other Events (form 8-.. Albertsons Companies, Inc. : Change in Directors or Principal Officers (form 8-K). If you change your Facebook permissions to restrict Stockhouse from receiving your email while joining or signing in to Stockhouse then it will fail. 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. Albertsons Companies, Inc. 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