Albertsons Companies, Inc. - ACI STOCK NEWS

Albertsons Companies (NYSE: ACI) is enhancing its commitment to diversity by expanding its Supplier Diversity Program. The company is hosting its second virtual summit this week, aiming to partner with diverse-owned businesses. With nearly 1,000 suppliers participating in the first event, Albertsons is focused on alleviating capital challenges faced by these businesses through its early payment program in collaboration with C2FO. Suppliers must be over 50% minority-owned to qualify, with submissions due by February 7 for acceptance announcements in April.

Albertsons Companies (NYSE: ACI) announced that Curtis Mann, group vice president of alcohol, has received the Taransaud Tonnellerie Award from the Institute of Masters of Wine, making him the first US retail executive to win this award. Mann, with over 20 years in the wine industry, is recognized for his expertise in wine production and handling. Since joining Albertsons in 2020, he has significantly enhanced the company's wine selection and customer education programs.

Albertsons Companies (NYSE: ACI) has partnered with Afresh Technologies to enhance its fresh food offerings through AI-powered predictive ordering and inventory solutions. This collaboration aims to reduce food waste, optimize forecasting, and improve overall fresh product management. Afresh's technology will help Albertsons meet its goal of reducing food waste by 50% by 2030 and support its commitment to lowering greenhouse gas emissions. The partnership is expected to better predict demand and monitor inventory, ultimately providing customers with higher quality fresh products.

Albertsons Companies (ACI) reported a strong third quarter for fiscal 2021, with net income of $425 million ($0.74/share) and adjusted EBITDA of $1.051 billion. Identical sales increased 5.2% year-over-year, and digital sales surged 9%, demonstrating a significant two-year growth of 234% in digital sales. The company raised its fiscal 2021 outlook, projecting identical sales between (0.8%) to (1.2%) and adjusted EBITDA ranging from $4.25 to $4.30 billion. The effective tax rate is expected to range from 22.5% to 23.5%. Capital expenditures are forecasted between $1.8 billion and $1.9 billion.

Albertsons Companies, Inc. (NYSE: ACI) has declared a cash dividend of $0.12 per share for Q4 2021, payable on February 10, 2022, to shareholders on record as of January 26, 2022. This decision underscores the Company's commitment to delivering value through a robust capital allocation strategy, focusing on sustainable free cash flow and a strong balance sheet. Albertsons operates over 20 store banners across 34 states and the District of Columbia, emphasizing its significant retail presence.

Albertsons Companies (NYSE: ACI) announced the winners of its inaugural FRESH PICKS Exclusive Product Awards, highlighting popular Own Brands products based on customer votes. The winning product is the Signature SELECT Ice Cream paired with Fresh Baked Signature SELECT Cookies. Additional winners include the Signature RESERVE Cabernet Sauvignon and Signature SELECT Mac & Cheese. To celebrate, Albertsons stores will offer exclusive deals and recipe content throughout January, aiming to inspire customers as more meals are enjoyed at home.

Albertsons Companies, Inc. (NYSE: ACI) plans to release its third-quarter financial results for fiscal 2021, ending December 4, 2021, on January 11, 2022, before market opening. Following the results, ACI will conduct a conference call at 8:30 a.m. Eastern Time, featuring a discussion and a Q&A session. Interested parties can access the call via the company's investor relations page. A replay will be available for two weeks post-call.

Albertsons Companies (NYSE: ACI) has launched two new digital offerings: Meal Planning and Schedule & Save. These features aim to enhance customer convenience by allowing loyalty members to quickly plan meals and auto-replenish essential items. The Meal Plans feature integrates with the Mealime app, offering personalized meal suggestions and shoppable recipes. The Schedule & Save feature automates replenishment of frequently purchased items, available at discounted prices. Initially available in northern California, further expansion is planned for 2022.