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. 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. 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. A replay of the webcast will be available for at least two weeks following the completion of the call. In addition, a deflationary market in future periods could reduce sales growth and earnings. 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. The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. 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. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. 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. Albertsons Companies, Inc. 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.. 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? The decrease in Selling and administrative expenses was primarily attributable to the benefit of ongoing productivity initiatives and sales leverage, partially offset by market-driven wage rate increases, investments related to the acceleration of our digital and omnichannel capabilities and merger-related costs. https://www.businesswire.com/news/home/20230301005323/en/, Do Not Sell My Personal Data/Privacy Policy.
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). Albertsons Companies is a leading food and drug retailer in the United States. Net loss on property dispositions and impairment losses was $7.3 million during the third quarter of fiscal 2022 compared to net gain of $13.4 million during the third quarter of fiscal 2021. Once the SEC has no further comments, the Company will mail the definitive information statement to the Company's stockholders. BOISE, Idaho--(BUSINESS WIRE)--
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 increase was driven by the Company's 7.9% increase in identical sales and higher fuel sales, with retail price inflation as the primary driver of the identical sales increase. Net sales and other revenue was $18.2 billion during the 12 weeks ended December 3, 2022 ("third quarter of fiscal 2022") compared to $16.7 billion during the 12 weeks ended December 4, 2021 ("third quarter of fiscal 2021"). Financial Market Data powered by QuoteMedia. 2021, December 5,
July 25, 2022. Albertsons Companies, Inc. : Unregistered Sale of Equity Securities, Other Events (form 8-.. Albertsons Companies, Inc. : Change in Directors or Principal Officers (form 8-K). The 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 is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. 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. Launch of Albertsons Media Collective offers next generation growth engine to partners, centered around customer service and data privacy. This press release features multimedia. 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 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. 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.
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. 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. 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. Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . 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. 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 . 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. 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.
"Each Albertsons Companies banner has its own unique history and local identity. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. 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. 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. The platform will be carried out across the company’s various grocery banners and customer experiences. (2) Related to conversion activities and related costs associated with integrating acquired businesses. This move lagged the S&P 500's daily . Albertsons Companies, Inc. (NYSE: ACI) today announced the launch of Sincerely, Food an omnichannel marketing campaign celebrating the companys purpose to bring people together around the joys of food and to inspire well-being. Carlin and C.A . 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. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. 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. About Us. The following table is a reconciliation of Net income to Adjusted EBITDA on a rolling four quarter basis: Government-mandated incremental COVID-19 pandemic related pay (2). Non-GAAP Measures. 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. (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. Benzinga does not provide investment advice. Selecting the value will change the page content, Do Not Sell or Share My Personal Information. On November 3, 2022, a commissioner for the Superior Court of King County (the "Superior Court") issued a temporary restraining order against the payment of the Special Dividend. (5) Represents incremental pay that is legislatively required in certain municipalities in which we operate. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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. During the quarter, we continued to gain market share in both units and dollars and saw ongoing improvement in both the in-store and online customer experience. Albertsons Companies Inc., whose market valuation is $10.97 billion at the time of this writing, is expected to release its quarterly earnings report Apr 10, 2023 - Apr 14, 2023. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. 2023 Benzinga.com. See the reconciliation of Net income to Adjusted net income above for further details. 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. 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. This investment comes in conjunction with Albertsons' recently announced go-to-market strategy shift within their category buying structure. 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. Copyright 2023 Surperformance. Excluding the impact of fuel, Selling and administrative expenses as a percentage of Net sales and other revenue decreased 29 basis points. 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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. Melissa Plaisance
The call will be webcast and can be accessed at https://investor.albertsonscompanies.com/Event-Calendar. 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. 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. The increase in sales compared to the third quarter of fiscal 2019 was primarily due to the 17.5% increase in two-year stacked identical sales. 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.
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. 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. The Company also uses Adjusted EBITDA and Net Debt Ratio for board of director and bank compliance reporting. 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. (3) Primarily due to gains related to sale leaseback transactions in the second quarter of fiscal 2019. (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. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. (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. (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. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. (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. Reflects the per share impact of Non-GAAP adjustments for each period. 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. By continuing to use our service, you agree to our use of cookies. 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. "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. BOISE, Idaho--(BUSINESS WIRE)-- Third Quarter of Fiscal 2021
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. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. To view or download images and other creative assets from the Sincerely, Food campaign, click here. 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
Retail price inflation and incremental sales related to administering COVID-19 vaccines contributed to the 5.2% identical sales increase. 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. 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. Cookies are used to offer you a better browsing experience and to analyze our traffic. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. Each Albertsons Companies banner has its own unique history and local identity. 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. https://www.businesswire.com/news/home/20211111006049/en/, Kirby Nardo, Albertsons Cos. Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. 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. 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. 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.
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. "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.". Together with labor shortages and higher demand for talent, the current economic environment is driving higher wages. The name reflects the companys commitment to improve lives by empowering customers to make more informed choices around food and well-being. 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. 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.
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. "Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results. 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. Offer Expires 01/12/24. 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. ", Third Quarter of Fiscal 2021 Results Compared to Third Quarter of Fiscal 2020.
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