For Media Relations, contact media@albertsons.com, Albertsons Companies, Inc. Reports Third Quarter Fiscal 2022 Results, https://www.albertsonscompanies.com/investors/overview/, Do Not Sell or Share My Personal Information, Loyalty members increased 16% to 33 million, Net income of $376 million, or $0.20 per share, Adjusted net income of $505 million, or $0.87 per share. This press release includes "forward-looking statements" within the meaning of the federal securities laws. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. "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. NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . All rights reserved. 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. Brand campaigns will begin February 27, 2022, and allow partners to access some of the most valuable positions across Albertsons Companies websites and apps, tapping into over 100 million shoppers across the country, including more than 2,200 store locations and over 27 million members of the companys Just for U loyalty program. Picks For You. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. The Company is providing an updated fiscal 2021 outlook and now expects: The Company is unable to provide a full reconciliation of the GAAP and Non-GAAP Measures (as defined below) used in the updated fiscal 2021 outlook without unreasonable effort because it is not possible to predict certain of the adjustment items with a reasonable degree of certainty. The decrease in selling and administrative expenses was primarily attributable to lower COVID-19 related expenses and the execution of productivity initiatives, which were offset by higher employee costs, depreciation and other expenses related to the Company's investments in its digital and omnichannel capabilities and other strategic priorities. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. 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. 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 . The platform will be carried out across the companys various grocery banners and customer experiences. 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. (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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Carlin and C.A . 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. In evaluating our financial results and forward-looking statements, you should carefully consider the risks and uncertainties more fully described in the "Risk Factors" section or other sections in our reports filed with the SEC including the most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Additional Information and Where to Find It. 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. The Company's presentation of Non-GAAP Measures should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. 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. 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. If you experience any issues with this process, please contact us for further assistance. 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 Special Dividend of $3,921.3 million is recorded in Special dividend payable on the Condensed Consolidated Balance Sheets. Albertsons Companies is a leading food and drug retailer in the United States. 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? 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.. The following table is a reconciliation of Net Debt Ratio on a rolling four quarter basis: Total debt (including finance leases and excluding operating leases), Total debt net of cash and cash equivalents. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. 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. This press release features . Pro forma results as presented in this press release represent the combined Kroger and Albertsons Cos. FY 2021 . 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"). In 2020, Albertsons achieved more than 200% digital sales growth in each quarter during the year. Such risks and uncertainties could cause actual results to differ materially from those expressed or forecasted by us. 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 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 . (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. 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. 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. 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. 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. on your first DriveUp & Go order when you spend $75 or more**. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 3, 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. 2023 Benzinga.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. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. Stockhouse membership requires an email address which must be shared by Facebook. Subsequent to the end of the third quarter of fiscal 2021, certain holders of the Company's convertible preferred stock converted approximately 262,601 shares of convertible preferred stock into approximately 15,247,696 shares of the Company's Class A common stock. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. 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. Supplemental, (Gain) loss on interest rate and commodity hedges, net (d), Facility closures and transformation (1)(b), Discretionary COVID-19 pandemic related costs (3)(b), Government-mandated incremental COVID-19 pandemic related pay (4)(b), Transaction and reorganization costs related to convertible preferred stock issuance and initial public offering (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. Companies is a leading food and drug retailer in the United States ( 4 ) Represents pay! Any issues with this process, please contact us for further assistance helping people across the country live better by! 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