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Albertsons Companies, Inc. (NYSE: ACI) is one of the leading food and drug retailers in the United States. Established in 1939 by Joe Albertson in Boise, Idaho, the company has grown to operate over 2,300 stores across 34 states and the District of Columbia under various well-known banners, including Albertsons, Safeway, Vons, and Jewel-Osco, among others.
Albertsons Companies is dedicated to making a meaningful difference in the communities it serves. In 2023, the company, along with the Albertsons Companies Foundation, contributed more than $350 million in food and financial support. A significant portion of this goes to their Nourishing Neighbors Program, which helps ensure that those impacted by disasters have enough to eat.
Financially, Albertsons has shown steady growth. In fiscal 2023, the company reported net sales and other revenue of $79.2 billion, a 2.0% increase from the previous year. Notably, their digital sales grew by 22%, reflecting the company's successful omnichannel strategy. The company’s commitment to enhancing its digital and in-store customer experience, as well as its supply chain operations, is evident in its
Albertsons Companies (NYSE: ACI) reported strong Q3 fiscal 2024 results with notable growth across key metrics. The company achieved a 2.0% increase in identical sales and a significant 23% growth in digital sales. Net income reached $401 million ($0.69 per share), while adjusted net income was $420 million ($0.71 per share).
The company's loyalty program grew 15% to 44.3 million members, and Adjusted EBITDA was $1,065 million. Net sales increased 1.2% to $18.77 billion, primarily driven by pharmacy sales growth. The Board approved a 25% increase in quarterly dividend to $0.15 per share and authorized a new $2.0 billion share repurchase program.
Following the termination of the Kroger merger agreement due to legal challenges, Albertsons has filed a lawsuit seeking damages and a $600 million termination fee. The company updated its fiscal 2024 outlook, projecting identical sales growth of 1.8-2.0% and adjusted EBITDA of $3.95-3.99 billion.
Albertsons Companies (NYSE: ACI) has announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share for the fourth quarter of fiscal 2024. The dividend will be paid on February 7, 2025, to stockholders who are recorded as of the close of business on January 24, 2025.
Albertsons Media Collective, the retail media division of Albertsons Companies (NYSE:ACI), has announced two significant developments to enhance advertiser measurement capabilities. First, they've launched an API enabling advertisers to integrate campaign performance data into their own measurement models. Second, they've partnered with TransUnion to offer TruAudience® marketing mix modeling (MMM) measurement.
The API provides advertisers with near real-time, frictionless access to performance data, allowing them to analyze campaign results in their preferred systems. This addresses the growing need for standardized measurement across retailers and channels in a fragmented ecosystem. According to eMarketer, MMM is considered the most promising measurement type for identifying business value drivers, with 61.3% of US marketers planning to improve their MMM capabilities.
Albertsons Companies (NYSE: ACI) has launched its 3rd Annual Innovation Launchpad competition, seeking emerging brands in food, beverage, and pet products. The competition targets independent food brands with $3-10 million in net retail sales. Fifty selected applicants will present to judges at Natural Products Expo West in Anaheim on March 4.
The competition focuses on categories including functional beverages, hydration, sober-curious beverages, low sugar/carb options, protein solutions, global flavors, healthy meal solutions, and premium pet items. Top three winners will receive prizes valued at over $300,000 total and potential distribution in Albertsons' banner stores.
Last year's competition attracted over 700 applicants, with WunderEggs, Evergreen, and Blue Zones Kitchen emerging as winners. Notably, WunderEggs, a plant-based egg alternative, is now available in 1,600 Albertsons stores. Applications are open through January 19.
Albertsons Companies (NYSE: ACI) has announced it will release its third quarter fiscal 2024 financial results on Wednesday, January 8, 2025, before the market opens. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results for the quarter ended November 30, 2024. The conference call will be accessible through the company's investor relations website, and a replay will be available for approximately two weeks after the call.
Albertsons Companies held a winter coat drive across their Plano, Pleasanton, and Arlington offices, successfully collecting 100 adult and kids coats. These coats will be donated to Rotary International and The Storehouse Community Center, benefiting individuals and families in need within local communities. The initiative aims to provide warmth and support during the colder months. Albertsons expressed gratitude to all donors and volunteers for their contributions.
Albertsons Companies participated in the 12th Annual Christmas with the Currys event in Oakland, partnering with Eat. Learn. Play. Foundation. The company distributed $200,000 in Safeway gift cards to approximately 1,000 Oakland families in need. The event provided holiday activities for over 200 local elementary school students. Karl Schroeder, Division President of Safeway Northern California, emphasized the company's commitment to making a meaningful difference in the Oakland community during the holiday season.
The Albertsons Companies Foundation launched a campaign in summer 2024 to combat childhood hunger through the USDA's Summer EBT program. Working with major non-profit organizations including Feeding America, Food Research & Action Center, and No Kid Hungry, the initiative established SummerEBT.org, which attracted over 171,000 visits and assisted 98,000 families in checking their eligibility for the program. The coalition brought together eight prominent organizations focused on fighting hunger and promoting healthier communities.
Safeway marked a significant milestone with the opening of Divert's new Diversion and Energy facility in Turlock, California. This state-of-the-art facility aims to combat food waste through two primary functions: recovering edible food for donation and converting unsold products into renewable energy to power local communities.
The partnership between Safeway and Divert strengthens their commitment to reducing food waste while supporting local food banks and hunger relief organizations. The opening ceremony featured participation from Safeway's local division staff and the Albertsons Companies Recipe for Change team. As part of the event, Safeway contributed product donations to benefit the Alameda County Community Food Bank.
Albertsons (NYSE: ACI) has filed a lawsuit against Kroger (NYSE: KR) in Delaware Court of Chancery for breach of merger agreement. The lawsuit alleges Kroger willfully breached the contract by refusing to provide adequate divestiture packages and ignoring regulators' concerns, leading to the merger being blocked by courts in Oregon and Washington.
Albertsons is seeking billions in damages to compensate for denied share premium, decreased shareholder value, and resources invested in the failed merger. The company has terminated the merger agreement, which entitles them to an immediate $600 million termination fee and removes constraints on pursuing other strategic opportunities.
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