Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . The decrease was primarily driven by increases in product, shrink and supply chain costs, a decline in COVID-related revenue due to administering fewer vaccines, partially offset by increased COVID at-home test kit revenue, and increases in picking and delivery costs related to the growth in digital sales, partially offset by the benefits of ongoing productivity initiatives. 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. 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. Furthermore, our business is experiencing an inflationary environment and food price inflation, which has benefited our sales and gross margin growth but has negatively impacted our gross margin rates. To learn more about Albertsons Cos., visit albertsonscompanies.com. As used in this earnings release, the term "identical sales" includes stores operating during the same period in both the current fiscal year and the prior fiscal year, comparing sales on a daily basis. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. Also includes $53 million of charitable contributions to our communities for hunger relief and $36.9 million in final reward payments to front-line associates at the end of the first quarter of fiscal 2020. Non-GAAP Measures. In 1939, Joe Albertson, a former Safeway district manager, took $5,000 he saved and $7,500 he borrowed from his wife's Aunt Bertie, and partnered with L.S. 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. Third Quarter of Fiscal 2022 Highlights Identical sales increased 7.9% Digital sales increased 33% Loyalty members increased 16% to 33 million Retail price inflation and incremental sales related to administering COVID-19 vaccines contributed to the 5.2% identical sales increase. Third Quarter of Fiscal 2021 Also includes expenses related to acquisitions and expenses related to management fees paid in connection with acquisition and financing activities. Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. 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.. All rights reserved. The platform will be carried out across the company’s various grocery banners and customer experiences. See the reconciliation of Net income to Adjusted net income above for further details. https://www.businesswire.com/news/home/20220111005233/en/, Media Contact: 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. Through digital properties, in-store signage, traditional and social media, Sincerely takes a heartwarming approach to showing how Albertsons Cos. customers daily moments and special occasions are celebrated through food. Excluding the impact of fuel, Selling and administrative expenses as a percentage of Net sales and other revenue decreased 29 basis points. Sincerely is the common thread through all of these, and it allows us to recognize the rich heritage associated with every banner," said Sean Barrett, Chief Marketing Officer for Albertsons Cos. "As a company, we're dedicated to earning customers for life, and our brand platform now supports and celebrates this commitment. Primarily relates to third-party advisor fees related to the proposed merger with Kroger and costs in connection with our previously-announced Board-led review of potential strategic alternatives. 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. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel centers, 22 dedicated distribution centers and 20 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. For more information, please. Enter Promo Code SAVE30 at checkout. Primarily includes certain legal and regulatory accruals and settlements, net realized and unrealized gains and losses related to non-operating investments, lease adjustments related to non-cash rent expense and costs incurred on leased surplus properties, pension settlement gain, adjustments for unconsolidated equity investments and costs associated with integrating acquired businesses. Adjusted net income was $457.2 million, or $0.79 per Class A common share, during the third quarter of fiscal 2021 compared to $386.6 million, or $0.66 per Class A common share, during the third quarter of fiscal 2020. factors related to the continued impact of the COVID-19 pandemic, about which there are still many unknowns, including its duration, recurrence, new variants, status and effectiveness of vaccinations, duration and scope of related government orders, financial assistance programs, mandates and regulations and the extent of the overall impact to our business and the communities we serve. 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. To view or download images and other creative assets from the Sincerely, Food campaign, click here. 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). Albertsons Companies is a leading food and drug retailer in the United States. The Kroger Co. and Albertsons Companies Inc are still on track to divest 250 to 300 stores as part of their effort to dispel antitrust issues regarding their proposed merger plan. "Each Albertsons Companies banner has its own unique history and local identity. The following tables reconcile Net income to Adjusted net income, and Net income per Class A common share to Adjusted net income per Class A common share for the 40 weeks ended December 4, 2021, December 5, 2020 and November 30, 2019: Gain on property dispositions and impairment losses, net (3), Discretionary COVID-19 pandemic related costs (4)(b), Government-mandated incremental COVID-19 pandemic related pay (5)(b). View the full release here: https://www.businesswire.com/news/home/20230301005323/en/, Sincerely, Food is one more way were connecting with our customers as we create more personal, engaging customer experiences that embody our values as a long-standing neighborhood grocer, said Jen Saenz, EVP and Chief Merchandising Officer. 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. To learn more about Albertsons Cos., visit albertsonscompanies.com. Income tax expense was $98.4 million, representing a 18.8% effective tax rate, during the third quarter of fiscal 2021 compared to $29.5 million, representing a 19.3% effective tax rate, during the third quarter of fiscal 2020. You must click the activation link in order to complete your subscription. 01/19/2023. Once the SEC has no further comments, the Company will mail the definitive information statement to the Company's stockholders. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. (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. This investment comes in conjunction with Albertsons' recently announced go-to-market strategy shift within their category buying structure. 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. The decrease in Selling and administrative expenses was primarily attributable to the benefit of ongoing productivity initiatives and sales leverage, partially offset by market-driven wage rate increases, investments related to the acceleration of our digital and omnichannel capabilities and merger-related costs. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business, our industry, the outcome of the Merger and the payment of the Special Dividend. 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. 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"). (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. The Special Dividend of $3,921.3 million is recorded in Special dividend payable on the Condensed Consolidated Balance Sheets. At the same time, our ongoing productivity engine is expected to continue to support our investments and partially offset anticipated inflationary cost increases, declines in COVID-19 vaccination and at-home test kit revenue, and macro-consumer headwinds.". We aren't your ordinary grocery store chain- we're Albertsons Market! Kirby Nardo, Albertsons Cos. View the full release here: https://www.businesswire.com/news/home/20230301005323/en/, "Sincerely, Food is one more way we're connecting with our customers as we create more personal, engaging customer experiences that embody our values as a long-standing neighborhood grocer," said Jen Saenz, EVP and Chief Merchandising Officer. Above for further details about Albertsons Cos., visit albertsonscompanies.com of this press release the activation link in to... 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