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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, Inc. (ACI) reported strong financial results for Q3 fiscal 2022, revealing net income of $376 million ($0.20/share) and adjusted net income of $505 million ($0.87/share), showcasing a 7.9% increase in identical sales and a remarkable 33% growth in digital sales. Despite a gross margin rate decline to 28.2%, ongoing productivity initiatives helped reduce selling and administrative expenses. However, a special cash dividend of $6.85/share was temporarily restrained by legal action from the Washington Attorney General, pending Supreme Court review.
Albertsons Companies, Inc. (NYSE: ACI) has declared a cash dividend of
Albertsons Companies (NYSE: ACI) will release its Q3 fiscal 2022 financial results on January 10, 2023, before market opening. The results cover the period ending December 3, 2022. Notably, in connection with its merger agreement with Kroger Co., Albertsons will not host a conference call or provide guidance for these results. As of September 10, 2022, Albertsons operates 2,272 stores across 34 states and the District of Columbia, including 1,722 pharmacies and 402 fuel centers.
Albertsons Companies, Inc. (NYSE: ACI) announced that the Washington State Supreme Court has expedited the review of a temporary restraining order against its $6.85 per common share Special Dividend. The review date is now January 17, 2023, moved from February 9, 2023. The company asserts that the lawsuits challenging the dividend from various state Attorneys General lack merit, supported by previous court rulings. Meanwhile, the proposed merger with Kroger remains under regulatory review.
Albertsons Companies, Inc. (NYSE: ACI) announced a $6.85 Special Dividend, pending a review by the Washington State Supreme Court on February 9, 2023. A temporary restraining order currently halts payment until further notice. Additionally, the U.S. Circuit Court denied a motion from various Attorneys General seeking to block the dividend. The Company believes these legal claims are baseless. Furthermore, the merger with The Kroger Co. is moving forward through regulatory review.
Albertsons Companies, Inc. (NYSE: ACI) announced that the State of Washington Supreme Court has extended a temporary restraining order against its $6.85 per share Special Dividend as the court reviews an appeal. The order will stay in effect until further notice. Albertsons has filed a motion to expedite this review and maintains that the claims by the Washington Attorney General and similar lawsuits from California, Illinois, and Washington, D.C. lack legal standing. The company’s merger with The Kroger Co. continues through regulatory scrutiny.
Albertsons Companies (NYSE: ACI) announced that the Washington State Court denied the Attorney General's request for a preliminary injunction against a $6.85 per share Special Dividend, originally set for November 7, 2022. Shareholders of record by October 24, 2022 are eligible. The court also extended a temporary restraining order until December 19, 2022 for potential appeals. Albertsons believes the lawsuits from multiple states against the dividend are meritless. The company’s merger with Kroger is under regulatory review.
The Kroger Co. (NYSE: KR) announced it received a "second request" from the Federal Trade Commission (FTC) concerning its merger with Albertsons Companies, Inc. (NYSE: ACI). This request will extend the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Kroger remains optimistic about the merger's benefits, including improved competition, lower prices, and better access to fresh food. The company continues to expect the merger to complete in early 2024, while complying with FTC requests and planning potential divestitures.
Albertsons Companies (NYSE: ACI) announced that the Washington State Court has postponed the hearing regarding the temporary restraining order (TRO) until December 9, 2022. This TRO, originally granted on November 3, 2022, prevents the company from paying a special dividend of $6.85 per share to stockholders as of October 24. Albertsons maintains that the state’s claim lacks merit and expects to uphold the dividend approved by its Board of Directors.
Albertsons Companies (NYSE: ACI) announced the postponement of a hearing regarding a temporary restraining order (TRO) by the State of Washington preventing the distribution of a $6.85 per share Special Dividend to shareholders of record from October 24, 2022. The hearing is set for November 16 and 17, with the TRO still in effect. Albertsons asserts the claim is meritless and stands by its Board's decision to approve the dividend.
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