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 (NYSE: ACI) reported its Q2 fiscal 2024 results, ending September 7, 2024. Identical sales increased 2.5%, while digital sales surged 24%. The company's loyalty members grew 15% to 43.0 million. Net income was $146 million, or $0.25 per share, with adjusted net income at $301 million, or $0.51 per share. Adjusted EBITDA stood at $901 million.
Net sales and other revenue reached $18.6 billion, up from $18.3 billion in Q2 fiscal 2023. The gross margin rate remained unchanged at 27.6%. However, selling and administrative expenses increased to 25.8% of net sales. The company completed 44 remodels and opened two new stores during the first 28 weeks of fiscal 2024.
Kroger (NYSE: KR) has extended the expiration date for its exchange offers and consent solicitations related to Albertsons Companies, Inc. (NYSE: ACI) notes. The new expiration date is October 22, 2024, at 5:00 p.m. New York City time. This extension applies to the exchange of up to $7,441,608,000 aggregate principal amount of ACI Notes for new Kroger Notes and cash. The exchange offers and consent solicitations are conditioned upon the closing of the merger between Kroger and ACI, expected in the fourth quarter of 2024. Settlement is anticipated shortly after the expiration date and merger closing. The exchange offers remain subject to the terms and conditions outlined in the confidential offering memorandum dated August 15, 2024. Eligible holders of ACI Notes can obtain documents related to the exchange offers and consent solicitations by completing an eligibility certificate.
Albertsons Companies (NYSE: ACI) has announced a cash dividend for the third quarter of fiscal 2024. The Board of Directors has declared a dividend of $0.12 per share of common stock. This dividend will be payable on November 8, 2024, to stockholders of record as of the close of business on October 28, 2024. The announcement demonstrates Albertsons' commitment to providing returns to its shareholders and may be seen as a positive indicator of the company's financial health and confidence in its future performance.
Albertsons Companies has voluntarily recalled 12 types of ReadyMeals and store-made deli items due to possible Listeria monocytogenes contamination. The recall was initiated after Fresh Creative Foods, a division of Reser's Fine Foods, Inc., discovered that these products contain a recalled ready-to-eat chicken ingredient supplied by BrucePac of Durant, Okla. The affected items were available for purchase at various Albertsons-owned stores across 21 states.
Consumers are urged not to consume these products and to return them to their local store for a full refund. The recall includes items such as street tacos, enchiladas, and salads with sell-through dates up to October 13, 2024. Customers with questions can contact Albertsons Companies' Customer Service Center at 1-877-723-3929.
Albertsons Companies' Southern California Division participated in the Susan G. Komen Better Than Pink Walk during Breast Cancer Awareness Month in Newport Beach, CA. Despite cloudy weather, Team AVPink showed strong support with over 100 dedicated walkers. The team's superstar fundraiser, Phil Markert, raised over $200,000, setting an inspiring example. The event demonstrated the team's camaraderie and unity in the fight against breast cancer. Albertsons Companies expressed gratitude to all contributors who made the event successful.
Albertsons Companies (NYSE: ACI) has announced that it will release its financial results for the second quarter of fiscal year 2024 on October 15, 2024, before the market opens. The quarter ended on September 7, 2024. However, due to the company's entry into an Agreement and Plan of Merger with The Kroger Co., Albertsons will not be hosting a conference call or providing financial guidance alongside its Q2 FY2024 results. This decision reflects the ongoing merger process and its potential impact on the company's future operations and financial outlook.
Kroger (NYSE:KR) has extended the expiration date for its exchange offers and consent solicitations related to Albertsons Companies, Inc. (NYSE:ACI) notes. The new expiration date is October 16, 2024, at 5:00 p.m. New York City time. This extension applies to the exchange of up to $7,441,608,000 aggregate principal amount of ACI Notes for new Kroger Notes and cash. The exchange offers and consent solicitations are conditioned upon the closing of the merger between Kroger and ACI, expected in the fourth quarter of 2024. Settlement is anticipated shortly after the expiration date and merger closing. The exchange offers allow for valid withdrawals until the expiration date, while the consent solicitations do not. Kroger Notes offered in the exchange have not been registered under the Securities Act of 1933 and may not be offered or sold in the U.S. without registration or an applicable exemption.
United Supermarkets, a division of Albertsons Companies (ACI), and Mrs Baird's have launched the 12th annual Teachers on the Rise program to recognize outstanding teachers in Texas. Each month, three teachers (one each from elementary, middle/junior high, and high school) will receive prizes including gift cards and gift baskets. Students who nominate winning teachers also receive gift cards.
The program, which runs throughout the school year, culminates in a banquet where teachers can win additional prizes, including a $1,000 grand prize. This initiative aims to acknowledge teachers' dedication and contributions to their communities. Nominations can be submitted at www.MrsBTeacher.com.
Albertsons Companies (ACI) has partnered with Johns Hopkins University to enhance food rescue efforts. The company's Manager for Food Donation and Food Waste Diversion, John Bernardo, shared insights about the groundbreaking study and Albertsons' Fresh Rescue Champions initiative. This collaboration aims to improve food rescue practices and make a significant impact in local communities.
The press release highlights the availability of the Fresh Rescue Champions Project Final Report and directs readers to Albertsons' LinkedIn post and website for more information about their Recipe for Change. This partnership demonstrates Albertsons' commitment to corporate social responsibility and sustainable practices in the retail grocery sector.
Kroger (NYSE:KR) has extended the expiration date for its exchange offers and consent solicitations related to Albertsons Companies, Inc. (NYSE:ACI) notes. The new deadline is 5:00 p.m. New York City time on October 9, 2024. This extension applies to the exchange of up to $7,441,608,000 aggregate principal amount of ACI Notes for new Kroger Notes and cash.
The exchange offers and consent solicitations are conditional upon the closing of the merger between Kroger and ACI, expected in the fourth quarter of 2024. Settlement is anticipated shortly after the expiration date and merger closing. Kroger may further extend the deadline if necessary.
The exchange offers remain subject to the terms outlined in the August 15, 2024 confidential offering memorandum. Eligible holders of ACI Notes can obtain documents by completing an eligibility certificate. The Kroger Notes offered have not been registered under the Securities Act of 1933 and may not be offered or sold in the US without registration or an applicable exemption.
FAQ
What is the current stock price of Albertsons Companies (ACI)?
What is the market cap of Albertsons Companies (ACI)?
What is Albertsons Companies?
What banners does Albertsons operate under?
How has Albertsons performed financially?
What community initiatives is Albertsons involved in?
What is Albertsons' digital strategy?
What sustainability efforts is Albertsons involved in?
What recent achievements has Albertsons made?
What are Albertsons' plans for fiscal 2024?
What partnerships has Albertsons recently formed?
How does Albertsons support veterans?
