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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' Seattle Division partnered with the Seattle Seahawks, KING 5 news, and Northwest Harvest for a successful food drive at the recent Football Fest. The initiative collected over 38,000 snacks for summer meal sites across the Northwest, focusing on kid-approved foods. Albertsons Companies' Own Brands team made a significant contribution, filling an entire eCommerce truck with donations.
This collaboration demonstrates Albertsons Companies' commitment to community engagement and addressing food insecurity. The event not only provided essential snacks for children but also showcased the power of partnerships between businesses, sports teams, and local organizations in making a positive impact on the community.
Kroger (NYSE:KR) announced the results of early participation in its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes. As of August 28, 2024, $6,819,427,000 aggregate principal amount of ACI Notes have been validly tendered, representing approximately 91.64% of the total aggregate ACI Notes outstanding. Kroger has received the requisite consents for several series of ACI Notes to adopt proposed amendments to their governing indentures.
Kroger is waiving the condition requiring requisite consents for each series and plans to accept all validly tendered ACI Notes. The company has amended the exchange consideration to $1,000 principal amount of Kroger Notes for each $1,000 principal amount of ACI Notes tendered. The exchange offers will expire on September 13, 2024, unless extended or terminated earlier.
Albertsons Companies' Southwest Division celebrated the grand reopening of a Las Vegas Albertsons store with a special community event. The highlight of the occasion was the donation of over $110,000 in grants to local nonprofit organizations through the Albertsons Companies Foundation. This initiative demonstrates Albertsons' commitment to making a positive impact in the communities it serves.
The event brought together Albertsons associates and customers, fostering a sense of community while supporting organizations that improve the lives of local residents. This reopening and charitable contribution align with Albertsons' broader corporate social responsibility efforts, showcasing the company's dedication to both business growth and community support.
Kroger Co. (NYSE:KR) has initiated private exchange offers for certain eligible holders of Albertsons Companies notes, aiming to exchange up to $7.44 billion in new Kroger notes and cash. The exchange is linked to the anticipated merger between Kroger and Albertsons, expected to close in Q4 2024.
The offers target multiple Albertsons-issued notes, including series due from 2026 to 2037. Kroger seeks consent to amend indentures governing these notes, removing restrictive covenants and certain default events, among other changes. Eligible holders who tender notes before the Early Participation Date will receive incentives, including a $1 consent payment and up to $1,000 in Kroger notes per $1,000 of Albertsons notes.
The exchange offers and consent solicitations will expire on September 13, 2024, with the settlement date expected soon after.
Albertsons Companies' Southern California Division recently partnered with Sleep in Heavenly Peace to make a positive impact on children in need. On August 8, 2024, volunteers, including Albertsons associates and their families, built 60 bed frames at Albertsons store #1348 in Santa Maria, CA. The event also collected over 60 sets of bedding to be delivered along with the frames and mattresses. Sleep in Heavenly Peace, a non-profit organization, provides beds to children without one, with over 220 families currently on the waiting list. This initiative demonstrates Albertsons Companies' commitment to community involvement and social responsibility, aligning with their 'Recipe for Change' program.
Albertsons Companies Foundation has partnered with Family, Career and Community Leaders of America (FCCLA) to support the Explore.Act.Tell. Program, a national initiative addressing food insecurity. The program, run by the Foundation for Impact on Literacy and Learning, empowers students to learn about hunger, implement solutions, and share their impact stories.
A highlight of this partnership was an onsite service project at the FCCLA National Leadership Conference in Seattle, where student leaders prepared snack bags for Feeding Feasible Feasts, a local nonprofit. These snack bags will provide nutritious food for children and families facing food insecurity.
This collaboration aligns with Albertsons Companies' mission to nourish their neighbors and demonstrates their commitment to supporting young leaders in making a positive impact in their communities.
Instacart (CART) and Albertsons Companies (ACI) have expanded their partnership nationwide, launching pickup services and convenience delivery in as fast as 30 minutes. The expansion includes:
1. Pickup services available in over 2,000 Albertsons banner locations by the end of August.
2. Albertsons Rapid, a new 30-minute delivery service for convenience items.
3. Haggen Food & Pharmacy now available for same-day delivery on Instacart.
This expansion aims to provide customers with faster, more flexible shopping experiences across Albertsons' banner stores, including Safeway, Shaw's, ACME, Jewel-Osco, Randalls, and Vons. The partnership, which began in 2017, continues to strengthen Albertsons' e-commerce offerings.
Albertsons Companies has been recognized by 50/50 Women on Boards as a "3+" company, highlighting its commitment to gender balance and diversity in leadership. The company's corporate board includes 4 women directors, representing 36% of board seats. This achievement underscores Albertsons' belief in the value of diverse perspectives and experiences in decision-making.
The recognition places Albertsons among leading companies promoting gender diversity in boardrooms. The company expressed gratitude to 50/50 Women on Boards for their advocacy and education efforts in this area. Albertsons invites stakeholders to celebrate this milestone and support increased representation of women in corporate leadership roles globally.
For more information about Albertsons Companies and their Recipe for Change initiative, visit their website. Additional multimedia content and ESG storytelling are available on 3blmedia.com.
Albertsons Companies (NYSE: ACI) reported its Q1 fiscal 2024 results, ending June 15, 2024. Identical sales increased 1.4%, while digital sales surged 23%. The company's loyalty members grew 15% to 41.4 million. Net income was $241 million, or $0.41 per share, with adjusted net income at $392 million, or $0.66 per share. Adjusted EBITDA reached $1,184 million.
Net sales and other revenue totaled $24.3 billion, up from $24.1 billion in Q1 fiscal 2023. The gross margin rate increased to 27.8%. However, the company faces headwinds related to investments in wages and benefits, and an increasing mix of lower-margin pharmacy and digital businesses. Albertsons completed 17 remodels and opened one new store during the quarter.
Albertsons Companies (NYSE: ACI) announced a cash dividend of $0.12 per share for the second quarter of fiscal 2024.
This dividend will be paid on August 9, 2024, to shareholders who hold the stock as of the close of business on July 26, 2024. The announcement reflects the company's commitment to returning value to its shareholders.
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