Welcome to our dedicated page for Albertsons Companies news (Ticker: ACI), a resource for investors and traders seeking the latest updates and insights on Albertsons Companies stock.
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 has expressed profound gratitude to its associates, customers, and partners for their participation in the Nourishing Neighbors Million Hour Volunteer Rally. Through this initiative, over $500,000 worth of volunteer hours were contributed. These efforts provided essential support to food banks and pantries in urgent need, with volunteers sorting and packing food, delivering meals, and assisting with administrative tasks. The initiative highlighted the power of community and collective efforts in addressing hunger, making a significant impact on local communities.
Albertsons Companies has awarded a grant to Toppenish High School through their Nourishing Neighbors program for their participation in the Explore.Act.Tell. (E.A.T.) Program. The school established the THS Pantry project, successfully collecting over 1,400 non-perishable food items through an advisory class donation drive to combat food insecurity among students and families.
The project, managed by NHS and SkillsUSA members, has developed partnerships with local businesses for consistent food donations and weekly distributions. Future plans include expanding partnerships, offering nutrition workshops, and establishing a permanent oversight committee for sustainability.
Kroger has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies notes from December 3, 2024, to December 9, 2024. The exchange offers involve up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur promptly after the expiration date and the closing of the merger, which is anticipated during the fourth quarter of 2024. The merger will result in Albertsons becoming a direct, wholly-owned subsidiary of Kroger.
Albertsons Companies' Mid-Atlantic division demonstrated its community engagement through a volunteer initiative at Greater Goods food pantry in Philadelphia. Nearly 20 associates collaborated to transform the facility by installing new grocery fixtures, stocking shelves, and renovating the space to create a more dignified shopping experience for food pantry clients. The makeover was completed in partnership with CPG partners to enhance the food pantry's operations and appearance.
Albertsons Store Director Mac McLeod was honored at the Santa Clarita Valley Mayor's Committee Brunch for his exceptional partnership with the New Horizons Pathways Program. The program focuses on creating employment opportunities for individuals with diverse abilities through internships, graduate positions, and career development initiatives.
McLeod delivered an inspiring speech highlighting the program's positive impact on his store (#1360) and associates. The initiative demonstrates Albertsons' commitment to fostering an inclusive workplace through training, mentoring, and career advancement opportunities. The program has received positive feedback from the vendor community, showcasing its success in driving meaningful change.
Kroger has extended the expiration date of its exchange offers for Albertsons Companies notes from November 26, 2024, to December 3, 2024. The exchange offers involve up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur after the expiration date and coincide with the merger closing, anticipated in Q4 2024. The required consents for certain series were received on August 29, 2024, with amendments to become operative upon settlement. The exchange offers remain conditional upon the merger completion and other conditions that may be waived by Kroger.
Albertsons Companies' Shaw's Division organized a Hackathon aimed at developing solutions for local nonprofits facing funding and capacity challenges. The event brought together Shaw's Division members with several nonprofit organizations including End Hunger New England, Jeremiah's Inn, Boys & Girls Club of Metro South, Mansfield MA Food Pantry, and The YMCA of Cape Cod. The initiative demonstrates the company's dedication to ensuring community access to nutritious food.
Albertsons Companies (ACI) celebrated significant achievements at Progressive Grocer's Grocery Impact 2024 event, with 102 associates receiving Top Women in Grocery (TWIG) Awards and four associates winning GenNext Awards. The TWIG Awards recognize women showing exceptional dedication to improving the grocery industry, while GenNext Awards honor impactful professionals under 40. This year marked a record number of honorees from Albertsons, highlighting the company's strong commitment to recognizing excellence among its workforce who demonstrate leadership in their roles and community service.
Albertsons Companies Director of Finance Brenda Valley has been awarded NextUp's 2024 Bobbie O'Hare Impact Award for her exceptional leadership and commitment to developing an inclusive community. With over a decade of service at Albertsons, Valley has supported various departments including eCommerce, Digital Shopper Experience, Data Science, and Business Intelligence.
As an officer on the board for NextUp Northern California, Valley focuses on advancing women's leadership skills and career development. Her recognition was highlighted by a personal congratulatory call from Bobbie O'Hare, Board of Directors Member Emeritus and founder of NextUp regions.
Kroger has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies notes from November 20, 2024, to November 26, 2024. The exchange offers involve up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur promptly after the expiration date and the closing of the merger between Kroger and Albertsons, which is anticipated during the fourth quarter of 2024. The required consents for certain series were received on August 29, 2024, with amendments to become operative upon settlement.
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