Supplemental Two-Year Results - Third Quarter of Fiscal 2021 Compared to Third Quarter of Fiscal 2019. Separate from the Merger Agreement, on October 13, 2022, the Company declared a special cash dividend of $6.85 per share (the "Special Dividend"), payable to stockholders of record, including holders of convertible preferred stock on an as-converted basis, as of the close of business on October 24, 2022. Albertsons Companies Inc., whose market valuation is $10.97 billion at the time of this writing, is expected to release its quarterly earnings report Apr 10, 2023 - Apr 14, 2023. Other companies may have different definitions of Non-GAAP Measures and provide for different adjustments, and comparability to the Company's results of operations may be impacted by such differences. 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. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 4, 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. 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.. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. 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 12 weeks ended December 4, 2021, December 5, 2020 and November 30, 2019: November 30, 2019 The third quarter of fiscal 2022 and first 40 weeks of fiscal 2022 reflect the impact of the Special Dividend that is attributable to the holders of convertible preferred stock on an as-converted basis. For Investor Relations, contact investor-relations@albertsons.com We also use them to share usage information with our partners. 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, were dedicated to earning customers for life, and our brand platform now supports and celebrates this commitment. 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Selling and administrative expenses decreased to 25.4% of net sales and other revenue during the third quarter of fiscal 2021 compared to 28.0% during the third quarter of fiscal 2020. 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. See weekly ads, join or log in to your Rewards account, shop online, and find the closest grocery store. View source version on businesswire.com: **OFFER DETAILS: TO SAVE $30 YOU MUST SPEND $75 OR MORE IN A SINGLE TRANSACTION FOR YOUR FIRST ONLINE PICKUP ORDER OF QUALIFYING ITEMS. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. Such risks and uncertainties could cause actual results to differ materially from those expressed or forecasted by us. Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. Albertson Media Collective, developed in partnership with CitrusAd and Merkle, is focused on providing opportunities to connect brands with their most loyal shoppers by opening up native display and sponsored product inventory throughout the companys websites. Adjustments to reconcile net income to net cash provided by operating activities: Operating lease right-of-use assets amortization, Contributions to pension and post-retirement benefit plans, net of (income) expense, (Gain) loss on interest rate swaps and commodity hedges, net. This move lagged the S&P 500's daily . Identical Sales. Albertsons Companies is a leading food and drug retailer in the United States. Cookies are used to offer you a better browsing experience and to analyze our traffic. Please go to the link in the email message to retrieve your password. You can sign up for additional alert options at any time. Kirby.Nardo@albertsons.com, Internet Explorer presents a security risk. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated. Non-GAAP adjustment classifications within the Condensed Consolidated Statements of Operations: (d) Loss (gain) on interest rate swaps and energy hedges, net: Total Loss (gain) on interest rate swaps and energy hedges, net. 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. (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. 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. Launch of Albertsons Media Collective offers next generation growth engine to partners, centered around customer service and data privacy. Copyright 2023 Surperformance. Excluding the impact of fuel and the $285.7 million charge related to the withdrawal from the United Food and Commercial Workers International Union ("UFCW") Union-Industry Pension Fund ("National Fund") during the third quarter of fiscal 2020, selling and administrative expenses as a percentage of net sales and other revenue decreased 20 basis points. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. 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. 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 (in millions, except per share data): Loss (gain) on interest rate swaps and energy hedges, net (d), Government-mandated incremental COVID-19 pandemic related pay (2)(b), Amortization of debt discount and deferred financing costs (c), Amortization of intangible assets resulting from acquisitions (b), Tax impact of adjustments to Adjusted net income, Weighted average Class A common shares outstanding - diluted, Adjusted weighted average Class A common shares outstanding - diluted, Adjusted net income per Class A common share - diluted, Net income per Class A common share - diluted. 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. Each Albertsons Companies banner has its own unique history and local identity. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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 2021 Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. 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"). Other companies may have different definitions of Non-GAAP Measures and provide for different adjustments, and comparability to the Company's results of operations may be impacted by such differences. Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. Stockhouse membership requires an email address which must be shared by Facebook. Offer Expires 01/12/24. "Each Albertsons Companies banner has its own unique history and local identity. 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 Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. https://www.businesswire.com/news/home/20220111005233/en/, Media Contact: 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. (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. Announces Proposed Senior Notes Offering. View source version on businesswire.com: Under the terms of the Merger Agreement, Kroger (through Kettle Merger Sub, Inc.) will acquire all of the outstanding shares of the Company's common stock and convertible preferred stock (on an as-converted basis) for total consideration of $34.10 per share, subject to certain reductions including the Special Dividend (as defined below). Once the SEC has no further comments, the Company will mail the definitive information statement to the Company's stockholders. The Company also uses Adjusted EBITDA and Net Debt Ratio for board of director and bank compliance reporting. 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. The following table is a reconciliation of Net income to Adjusted EBITDA on a rolling four quarter basis: Government-mandated incremental COVID-19 pandemic related pay (2). 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Kellogg has donated $75,000 to Albertsons Companies Foundation's Nourishing Neighbors Initiative, a charitable program of the Albertsons Companies Foundation benefiting the hunger-relief efforts . View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. Adjusted net income was $505.1 million, or $0.87 per share, during the third quarter of fiscal 2022 compared to $457.2 million, or $0.79 per share, during the third quarter of fiscal 2021. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Skaggs to open his first Albertsons store on 16th and State Streets in Boise, Idaho. See the reconciliation of Net income to Adjusted net income above for further details. We are thrilled to be able to create a differentiated retail media network that will allow our customers to engage with the food and brands they love, said Argyilan, SVP Retail Media at Albertsons Companies. Third Quarter of Fiscal 2022 Highlights Identical sales increased 7.9% Digital sales increased 33% Loyalty members increased 16% to 33 million 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. This information is dependent upon future events and may be outside of the Company's control and could have a significant impact on its GAAP financial results for fiscal 2021. Represents incremental pay that is legislatively required in certain municipalities in which we operate. These Non-GAAP Measures exclude the financial impact of items management does not consider in assessing the Company's ongoing core operating performance, and thereby provide useful measures to analysts and investors of its operating performance on a period-to-period basis. The increase in sales compared to the third quarter of fiscal 2019 was primarily due to the 17.5% increase in two-year stacked identical sales. 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. 2021, December 5, (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. changes in macroeconomic conditions and uncertainty regarding the geopolitical environment; rates of food price inflation or deflation, as well as fuel and commodity prices; changes in market interest rates and wage rates; changes in retail consumer behavior, including in the digital space; ability to attract and retain qualified associates and negotiate acceptable contracts with labor unions; failure to achieve productivity initiatives, unexpected changes in our objectives and plans, inability to implement our strategies, plans, programs and initiatives, or enter into strategic transactions, investments or partnerships in the future on terms acceptable to us, or at all, or to close the transactions contemplated by the Merger Agreement; litigation related to the transactions contemplated by the Merger Agreement; litigation related to the payment of the Special Dividend; restrictions on our ability to operate as a result of the Merger Agreement; challenges in attracting, retaining and motivating our employees until the Closing; availability and cost of goods used in our food products; cybersecurity events affecting us and related costs and impact to the business; and. "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. The Company's presentation of Non-GAAP Measures should not be construed as an implication that its future results will be unaffected by unusual or non-recurring items. Includes gains of $19.0 million and $106.3 million during the second quarter of fiscal 2022 and fourth quarter of fiscal 2021, respectively, and the $607.2 million charge in the fourth quarter of fiscal 2020 related to the withdrawal from the Combined Plan. Non-GAAP Measures. Kirby Nardo, Albertsons Cos. The following table is a reconciliation of Net Debt Ratio on a rolling four quarter basis: Cash and cash equivalents, net of Special dividend payable, Total debt net of cash and cash equivalents, net. 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. 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. 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. "We are pleased with our third quarter results as we continue to execute against our transformation strategy. SAN FRANCISCO, Jan. 27, 2022 /PRNewswire/ -- Albertsons Companies (NYSE: ACI ) will enhance its fresh offering with Afresh Technologies' AI-powered predictive ordering and inventory solutions to. To learn more about Albertsons Cos., visit albertsonscompanies.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. ", Third Quarter of Fiscal 2021 Results Compared to Third Quarter of Fiscal 2020. Kirby.Nardo@albertsons.com, Albertsons Companies Unveils New Retail Media Network, https://www.businesswire.com/news/home/20211111006049/en/, Do Not Sell or Share My Personal Information. Net income was $424.5 million, or $0.74 per Class A common share, during the third quarter of fiscal 2021 compared to $123.7 million, or $0.20 per Class A common share, during the third quarter of fiscal 2020. Other expense, net was $1.7 million during the third quarter of fiscal 2022 compared to other income, net of $38.3 million during the third quarter of fiscal 2021. Blue Buffalo Partners with Actress and Real-Life Cat Lover Angela Kinsey for National Sleep Overton Brooks VA Medical Center Executes Contract for 10 Knightscope (Nasdaq: KSCP) K1 Blue ComEd Expands Drone Program With Remotely Piloted Drones to Enhance Operations, Intermap Receives First Task Order for U.S. Department of the Interior IDIQ Prime Contract, INEO Achieves 50% Growth with Record Quarterly Revenue in Fiscal Second Quarter, The Next Gold Rush will Gold hit $3,500/oz in 2023? On December 9, 2022, the Superior Court ruled in favor of the Company and denied the Washington Attorney General's request for a preliminary injunction, but extended the temporary restraining order in order for the Washington Attorney General to seek review from the Washington Supreme Court. This press release features . Gross margin rate decreased to 28.2% during the third quarter of fiscal 2022 compared to 28.9% during the third quarter of fiscal 2021. In addition, a deflationary market in future periods could reduce sales growth and earnings. Net income was $375.5 million, or $0.20 per share, during the third quarter of fiscal 2022 compared to $424.5 million, or $0.74 per share, during the third quarter of fiscal 2021. Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . 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.". 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, Payments of obligations under finance leases, Payment of redemption premium on debt extinguishment, Dividends paid on convertible preferred stock, Proceeds from convertible preferred stock, Third party issuance costs on convertible preferred stock, Employee tax withholding on vesting of restricted stock units, 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. This press release includes "forward-looking statements" within the meaning of the federal securities laws. (c) Interest expense, net This investment comes in conjunction with Albertsons' recently announced go-to-market strategy shift within their category buying structure. July 25, 2022. The Company believes these supplemental comparisons provide meaningful and useful information to investors about the trends in its business relative to pre-COVID-19 pandemic periods. By providing my email, I consent to receiving investment related electronic messages from Stockhouse. These conversions represented approximately 15% of the convertible preferred stock outstanding as of the end of the third quarter of fiscal 2021. 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. 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. The platform will be carried out across the company’s various grocery banners and customer experiences. Melissa Plaisance 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. You may obtain copies of all documents filed by the Company with the SEC regarding this transaction, free of charge, at the SEC's website, www.sec.gov or from the Company's website at https://www.albertsonscompanies.com/investors/overview/. The platform will be carried out across the company's various grocery banners and customer experiences. Kroger, the second largest grocery store chain, purchased the fourth largest, Albertsons, for an estimated total enterprise value of $24.6 billion, the company announced in a news release Friday . Albertsons Companies, Inc. (ACI) Latest Stock News & Headlines - Yahoo Finance U.S. Markets closed S&P Futures Dow Futures Nasdaq Futures Russell 2000 Futures +3.50 Crude Oil Albertsons. Albertson Media Collective, developed in partnership with CitrusAd and Merkle, is focused on providing opportunities to connect brands with their most loyal shoppers by opening up native display and sponsored product inventory throughout the companys websites. 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. Interest expense, net was $84.3 million during the third quarter of fiscal 2022 compared to $111.3 million during the third quarter of fiscal 2021. The following table is a reconciliation of Adjusted net income to Adjusted EBITDA: Includes costs associated with third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. This press release includes "forward-looking statements" within the meaning of the federal securities laws. (5) 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, and adjustments for unconsolidated equity investments. About Us. 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. ", Mr. Sankaran continued, "As we look ahead to the balance of the year and into fiscal 2023, we believe that all of these initiatives position us well to continue to drive top-line growth and deepen our customer and community engagement both online and in-store. For more information, please. https://www.businesswire.com/news/home/20211111006049/en/, Kirby Nardo, Albertsons Cos. We are thrilled to be able to create a differentiated retail media network that will allow our customers to engage with the food and brands they love, said Argyilan, SVP Retail Media at Albertsons Companies. 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. 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. The increase was driven by the Company's 5.2% increase in identical sales, as well as higher fuel sales and sales related to stores acquired and opened since the third quarter of fiscal 2020. 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. EBITDA, Adjusted EBITDA, Adjusted net income, Adjusted net income per Class A common share and Net debt ratio (collectively, the "Non-GAAP Measures") are performance measures that provide supplemental information the Company believes is useful to analysts and investors to evaluate its ongoing results of operations, when considered alongside other GAAP measures such as net income, operating income, gross margin, and net income per Class A common share. Financial Market Data powered by QuoteMedia. 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. These Non-GAAP Measures exclude the financial impact of items management does not consider in assessing the Company's ongoing operating performance, and thereby provide useful measures of its operating performance on a period-to-period basis. 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