Adjusted EBITDA was $1,158.0 million, or 6.4% of Net sales and other revenue, during the third quarter of fiscal 2022 compared to $1,051.2 million, or 6.3% of Net sales and other revenue, during the third quarter of fiscal 2021. You can identify forward-looking statements by the use of words such as "outlook," "may," "should," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions which are intended to identify forward-looking statements. Albertsons Companies is a leading food and drug retailer in the United States. Albertsons Companies is a leading food and drug retailer in the United States. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. (6) Represents the conversion of convertible preferred stock to the fully outstanding as-converted Class A common shares as of the end of each respective period, for periods in which the convertible preferred stock is antidilutive under GAAP. New omnichannel campaign brings to life new "Sincerely" brand platform, capturing the company's commitment to know, nourish and care for its customers. The name reflects the companys commitment to improve lives by empowering customers to make more informed choices around food and well-being. Announces Resignation of Hersch Klaff from the Board of Dire.. Albertsons Companies, Inc. : Entry into a Material Definitive Agreement, Financial Stateme.. Kroger, Albertsons Focus on Store Divestments to Ease Regulatory Concern Over Proposed .. Kroger, Albertsons Reportedly Eyeing Stores' Sale Worth Over $1 Billion to Help Ease US.. Deutsche Bank Adjusts Albertsons Companies Price Target to $28 From $27, Maintains Hold.. Wells Fargo Adjusts Price Target on Albertsons Companies to $22 From $30, Maintains Equ.. Bernstein Starts Albertsons Cos. at Outperform With $26 Price Target. To learn more about Albertsons Cos., visit albertsonscompanies.com. Kirby.Nardo@albertsons.com, Internet Explorer presents a security risk. The campaign told from the perspective of what food sees is designed to boost awareness and drive positive perception of the grocers strengths in high-quality fresh produce, meats and seasonal ingredients, and to build a more emotional connection between customers and their local Albertsons Cos. banner. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. On October 13, 2022, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with The Kroger Company ("Kroger") and Kettle Merger Sub, Inc. ", Third Quarter of Fiscal 2021 Results Compared to Third Quarter of Fiscal 2020. (8) Represents the conversion of convertible preferred stock to the fully outstanding as-converted Class A common shares as of the end of each respective period, for periods in which the convertible preferred stock is antidilutive under GAAP. During the first 40 weeks of fiscal 2021, the Company spent $1,216.4 million in capital expenditures, which included investments in digital and technology, the opening of nine new stores and the completion of 146 store remodels. Albertsons Cos. is a thriving business which has delivered over $75 billion in revenues in the rolling four quarters ended September 10, 2022, following strong performance of $71.9 billion in. To learn more about Albertsons Cos., visit albertsonscompanies.com. "Also driving these results was our continued focus on in-store excellence, acceleration of our digital and omnichannel capabilities, and delivery of our productivity initiatives. Each Albertsons Companies banner has its own unique history and local identity. Albertsons Companies is a leading food and drug retailer in the United States. The name reflects the company's commitment to improve lives by empowering customers to make more informed choices around food and well-being. Gross margin rate increased to 28.9% during the third quarter of fiscal 2021 compared to 28.3% during the third quarter of fiscal 2019. The increase in gross margin rate was primarily due to productivity initiatives, improved pharmacy margins related to administering COVID-19 vaccines and favorable product mix, largely offset by lower gross margin rates across certain product categories due to the rate impact of increased product costs driven by the current inflationary environment, as well as higher supply chain costs. 2022, December 4, (7) Primarily includes lease adjustments related to non-cash rent expense and costs incurred on leased surplus properties, net realized and unrealized gains and losses related to non-operating investments, certain legal and regulatory accruals and settlements, pension settlement gain and adjustments for unconsolidated equity investments. Based in our Sincerely brand platform, the campaign showcases our commitment to know, nourish and care for our customers by delivering on our companys purpose.. As of December 3, 2022, the Company operated 2,270 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. 2023 Benzinga.com. The following table is a reconciliation of Adjusted net income to Adjusted EBITDA: (1) See the reconciliation of Net income to Adjusted net income above for further details. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Albertsons Companies, Inc. (NYSE: ACI) today announced the launch of Sincerely, Food an omnichannel marketing campaign celebrating the companys purpose to bring people together around the joys of food and to inspire well-being. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. BOISE, Idaho and NEW YORK, Sept. 20, 2017 /PRNewswire/ -- Albertsons Companies, one of the nation's largest grocery retailers, today announced the acquisition of Plated, a premier meal kit service . Adjusted EBITDA was $1,051.2 million, or 6.3% of sales, during the third quarter of fiscal 2021 compared to $967.7 million, or 6.3% of sales, during the third quarter of fiscal 2020. Albertsons Companies, Inc. We expect the economic environment to remain uncertain as we navigate the COVID-19 pandemic, labor challenges and the current inflationary environment. Albertsons Companies Will Now Offer Napa Valley Wine Academy Certification Nationwide to Associates. $30 Off. As of December 3, 2022, the Company operated 2,270 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. During the quarter, we continued to gain market share in both units and dollars and saw ongoing improvement in both the in-store and online customer experience. SAN FRANCISCO, Nov. 22, 2021 /PRNewswire/ -- Today, Uber Technologies, Inc. (NYSE: UBER) announced their support of grocery partner Albertsons Companies, Inc.'s (NYSE: ACI) Nourishing Neighbors . Includes the $19.0 million gain during the second quarter of fiscal 2022 related to the withdrawal in fiscal 2020 from the Food Employers Labor Relations Association and United Food and Commercial Workers Pension Fund ("FELRA") and the Mid-Atlantic UFCW and Participating Pension Fund ("MAP" and together with FELRA, the "Combined Plan"). Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. Non-GAAP Measures. Albertsons Companies is a leading food and drug retailer in the United States. 01/19/2023. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. (6) Primarily includes costs related to store damage, inventory losses and community support as a result of the civil disruption during late May 2020 and early June 2020 in certain markets. The following table is a reconciliation of Net income to Adjusted EBITDA on a rolling four quarter basis: (Gain) loss on interest rate and commodity hedges, net, Discretionary COVID-19 pandemic related costs (3), Government-mandated incremental COVID-19 pandemic related pay (4), Transaction and reorganization costs related to convertible preferred stock issuance and initial public offering, Combined Plan and UFCW National Fund withdrawal (6). (9) Represents incremental unvested RSUs and unvested RSAs to adjust the diluted weighted average Class A common shares outstanding during each respective period to the fully outstanding RSUs and RSAs as of the end of each respective period. 2022, Current maturities of long-term debt and finance lease obligations, Current maturities of operating lease obligations, Long-term debt and finance lease obligations, TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY, Condensed Consolidated Statements of Cash Flows. By continuing to use our service, you agree to our use of cookies. 2021, Current maturities of long-term debt and finance lease obligations, Current maturities of operating lease obligations, Long-term debt and finance lease obligations, TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY, Condensed Consolidated Statements of Cash Flows. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. On that day, Albertsons Companies, Inc. is projected to report earnings of $0.68 per share, which would represent a year-over-year decline of 9.33%. On November 1, 2022, the Attorney General for the State of Washington ("Washington Attorney General") filed a motion for a temporary restraining order to prevent the payment of the Special Dividend. Based in our Sincerely’ brand platform, the campaign showcases our commitment to know, nourish and care for our customers by delivering on our company’s purpose.” The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. Selling and administrative expenses decreased to 25.4% of net sales and other revenue during the third quarter of fiscal 2021 compared to 27.0% of net sales and other revenue for the third quarter of fiscal 2019. Albertsons Companies, Inc. ACI today announced the launch of Sincerely, Food an omnichannel marketing campaign celebrating the company's purpose to bring people together around the joys of food and to inspire well-being. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. The Company operates stores across 34 states and the District of Columbia under more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict, including, among others: All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. As of December 3, 2022, the Company operated 2,270 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. View the, https://www.businesswire.com/news/home/20230301005323/en/, @ the Bell: Financials drag TSX after downbeat results, @ the Bell: TSX rebounds from 2023s worst weekly selloff. (b) Selling and administrative expenses Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. The Special Dividend was to be paid on November 7, 2022. Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. BOISE, Idaho--(BUSINESS WIRE)-- As of December 3, 2022, the Company operated 2,270 retail food and drug stores with 1,720 pharmacies, 402 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. 2021, Loss (gain) on property dispositions and impairment losses, net, Basic net income per Class A common share, Diluted net income per Class A common share, Weighted average Class A common shares outstanding (in millions), February 26, On November 3, 2022, a commissioner for the Superior Court of King County (the "Superior Court") issued a temporary restraining order against the payment of the Special Dividend. August 31, 2021 centralcharts Press Release. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. The campaign - told from the perspective of what food sees - is designed to boost awareness and drive positive perception of the grocer's strengths in high-quality fresh produce, meats and seasonal ingredients, and to build a more emotional connection between customers and their local Albertsons Cos. banner. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/, Get the latest news and updates from Stockhouse on social media, Stockhouse.com uses cookies on this site. The Company has filed with the Securities and Exchange Commission ("SEC") a preliminary information statement on Schedule 14C with respect to the approval of the merger between the Company and Kroger, which is subject to SEC comment. The Company operates stores across 34 states and the District of Columbia with 24 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. BOISE, Idaho-- (BUSINESS WIRE)-- Albertsons Companies (NYSE: ACI) today announced that it has deployed a new online service for Electronic Benefits Transfer (EBT) recipients at . With retail media networks rapidly reshaping the advertising space across the consumer media sector, Albertsons Media Collective, led by Kristi Argyilan, Albertsons Cos. SVP of Retail Media, will offer partners a digital marketing platform and omnichannel solutions with the core consumer in mind. If you experience any issues with this process, please contact us for further assistance. Excluding the impact of fuel, selling and administrative expenses as a percentage of net sales and other revenue decreased approximately 170 basis points primarily due to sales leverage and the execution of productivity initiatives, partially offset by increases in employee costs and other expenses related to the Company's investments in its digital and omnichannel capabilities and strategic priorities, as well as incremental COVID-19 expenses. Net sales and other revenue was $18.2 billion during the 12 weeks ended December 3, 2022 ("third quarter of fiscal 2022") compared to $16.7 billion during the 12 weeks ended December 4, 2021 ("third quarter of fiscal 2021"). "Our team continues to deliver strong performance as we execute against our Customers for Life strategy and bring people together around the joys of food and inspire well-being," said Vivek Sankaran, CEO. Albertsons Companies is a leading food and drug retailer in the United States. Interest expense, net was $111.3 million during the third quarter of fiscal 2021 compared to $115.9 million during the third quarter of fiscal 2020. The decrease in the effective income tax rate was primarily driven by incremental discrete state income tax benefits related to expired statutes and audit settlements during the third quarter of fiscal 2021. Melissa Plaisance Albertsons Media Collective will further our goal of bringing brands and our customers together by delivering an unrivaled vendor and customer experience and truly reimagining marketing for whats next.. of Defense approval, High Tide Resources: Maiden Resource Estimate out for premier high-grade iron ore project, BMO (TSX:BMO) & Scotiabank (TSX:BNS) slashed profits - a warning for rough times ahead, Infinity Stone (CSE:GEMS) completes airborne geophysics & expands land position at Zen-Whoberi Project. Albertsons Companies is a leading food and drug retailer that operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. Changes in operating assets and liabilities: Accounts payable, accrued salaries and wages and other accrued liabilities, Net cash provided by operating activities, Business acquisitions, net of cash acquired, Payments for property, equipment and intangibles, including payments for lease buyouts, Proceeds from issuance of long-term debt, including ABL facility, Payments on long-term borrowings, including ABL facility, Payments of obligations under finance leases, Payment of redemption premium on debt extinguishment, Dividends paid on convertible preferred stock, Employee tax withholding on vesting of restricted stock units, Net cash provided by (used in) financing activities, Net increase in cash and cash equivalents and restricted cash, Cash and cash equivalents and restricted cash at beginning of period, Cash and cash equivalents and restricted cash at end of period. , visit albertsonscompanies.com inquire about advertising opportunities and find out more about albertsons Cos., albertsonscompanies.com. 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