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The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. $30 Off. 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. Albertsons Companies, Inc. : Unregistered Sale of Equity Securities, Other Events (form 8-.. Albertsons Companies, Inc. : Change in Directors or Principal Officers (form 8-K). 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. 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). 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.. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. New omnichannel campaign brings to life new Sincerely” brand platform, capturing the company’s commitment to know, nourish and care for its customers. 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. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2021, which ended December 4, 2021. Adjustments to reconcile net income to net cash provided by operating activities: Gain on property dispositions and impairment losses, net, Operating lease right-of-use assets amortization, Contributions to pension and post-retirement benefit plans, net of (income) expense, Gain on interest rate swaps and energy hedges, net. Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. This investment comes in conjunction with Albertsons' recently announced go-to-market strategy shift within their category buying structure. Albertsons Companies is a leading food and drug retailer in the United States. retail consumer behavior and environment and the Company's industry; ability to attract and retain qualified associates; failure to achieve productivity initiatives; increased rates of food price inflation or future deflation; and. Albertsons Companies, Inc. (NYSE: 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. (7) Represents incremental unvested restricted stock units ("RSUs") and unvested restricted stock awards ("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. 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. Albertsons Companies, Inc. 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 the reconciliation of Net income to Adjusted net income above for further details. 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, February 06, 2023--Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today announced its intention to offer $750 million in aggregate principal amount of new senior notes due . Non-GAAP adjustment classifications within the Consolidated Statement of Operations: BOISE, Idaho--(BUSINESS WIRE)-- Benzinga does not provide investment advice. The Company's capital allocation strategy is balanced, prioritizing capital investment to drive future growth, continued deleveraging of the balance sheet, and the return of capital to stockholders via quarterly dividends and opportunistic share repurchases, all anchored on strong and consistent free cash flow. 2022, December 4, Includes costs related to third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. Each Albertsons Companies banner has its own unique history and local identity. 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. 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. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. 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. A replay of the webcast will be available for at least two weeks following the completion of the call. "Each Albertsons Companies banner has its own unique history and local identity. To view or download images and other creative assets from the Sincerely, Food campaign, click here. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. For more information, please. The name reflects the company’s commitment to improve lives by empowering customers to make more informed choices around food and well-being. Retail price inflation and incremental sales related to administering COVID-19 vaccines contributed to the 5.2% identical sales increase. 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. Kirby.Nardo@albertsons.com, Internet Explorer presents a security risk. (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. 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. "Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results. (6) Includes the $607.2 million charge in the fourth quarter of fiscal 2020 related to the withdrawal 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") and the $285.7 million charge in the third quarter of fiscal 2020 related to the withdrawal from the UFCW National Fund. During the third quarter of fiscal 2021, the Company also paid its quarterly dividend of $0.12 per share of Class A common stock on November 12, 2021 to stockholders of record as of October 29, 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"). Albertsons Companies is a leading food and drug retailer in the United States. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. 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. 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. (2) Related to conversion activities and related costs associated with integrating acquired businesses. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. 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 commissioner's order also extended the temporary restraining order against the payment of the Special Dividend. Cookies are used to offer you a better browsing experience and to analyze our traffic. To learn more about Albertsons Cos., visit albertsonscompanies.com. Identical Sales. Net income per share during the third quarter of fiscal 2022 includes a $0.45 per share reduction related to the Special Dividend that is attributable to holders of convertible preferred stock on an as-converted basis. 01/19/2023. Other income, net was $38.3 million during the third quarter of fiscal 2021 compared to $19.2 million during the third quarter of fiscal 2020. 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.. BOISE, Idaho--(BUSINESS WIRE)-- A favorable economic backdrop together with the heroic performance of our frontline retail, distribution, and manufacturing teams contributed to these better-than-expected results," said Vivek Sankaran, CEO. 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. Selecting the value will change the page content, Do Not Sell or Share My Personal Information. BATTLE CREEK, Mich., Feb. 27, 2023 /PRNewswire/ -- Kellogg Company and Albertsons Companies, one of the largest food and drug retailers in the United States, have joined forces for the third consecutive year to tackle the ongoing issue of hunger in the communities they serve. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 3, 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. In 2020, along with the Albertsons Companies Foundation, the Company gave $260 million in food and financial support, including approximately $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. (c) Interest expense, net An email was sent with password retrieval instructions. The platform will be carried out across the companys various grocery banners and customer experiences. https://www.businesswire.com/news/home/20211111006049/en/, Kirby Nardo, Albertsons Cos. 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. 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 name reflects . 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. (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. 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. Also includes expenses related to acquisitions and expenses related to management fees paid in connection with acquisition and financing activities. 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. (5) Primarily includes costs related to store damage, inventory losses and community support as a result of civil disruption during late May 2020 and early June 2020 in certain markets. Albertsons Companies is a leading food and drug retailer in the United States. The expected effective tax rate does not reflect potential rate adjustments for the resolution of tax audits or potential changes in tax laws, which cannot be predicted with reasonable certainty. 2021, December 5, 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. Excluding the impact of fuel, gross margin rate increased by approximately 40 basis points compared to the third quarter of fiscal 2019, primarily driven by sales leverage, productivity initiatives and improved pharmacy margins related to administering COVID-19 vaccines, partially offset by growth in digital sales and an increase in product and supply chain costs driven by the current inflationary environment. Copyright 2023 Surperformance. 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. 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 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. Meanwhile, our latest consensus estimate is . All rights reserved. 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. 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. 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. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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. 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 is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. New omnichannel campaign brings to life new "Sincerely" brand platform, capturing the company's commitment to know, nourish and care for its customers. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans' outreach. 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. See. July 25, 2022. 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 . View the full release here: https://www.businesswire.com/news/home/20230301005323/en/. We have recently experienced increased labor shortages due to recent COVID-19 variants resulting in transportation and retail store disruptions. https://www.businesswire.com/news/home/20220111005233/en/, Media Contact: 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. Represents incremental pay that is legislatively required in certain municipalities in which we operate. If you experience any issues with this process, please contact us for further assistance. 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 . (10) Reflects the per share impact of Non-GAAP adjustments for each period. 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. EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted net income per Class A common share (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. The Company also uses Adjusted EBITDA and Net Debt Ratio for board of director and bank compliance reporting. 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. 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. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. Media opportunities include advertising placements on Albertsons owned properties such as its homepage, department, category, sub-category, email, search, app, pharmacy, as well as on Albertsons off-site targeted ad placements. 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. "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. 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. All rights reserved. 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. (5) Represents incremental pay that is legislatively required in certain municipalities in which we operate. BOISE, Idaho--(BUSINESS WIRE)-- Once the SEC has no further comments, the Company will mail the definitive information statement to the Company's stockholders. (b) Selling and administrative expenses Forward-looking statements contained in this press release reflect our view only as of the date of this press release. 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. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. 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. We will not release or resell your information to third parties without your permission. 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. (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. On December 19, 2022, the commissioner of the Washington Supreme Court announced that the Court will, sitting en banc, consider the Washington Attorney General's application for review. 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. You can sign up for additional alert options at any time. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel. 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 . The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. This press release features multimedia. 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%. Own unique history and local identity replay of the date of this press release within their category buying structure Cos.... Expressed or forecasted by us Non-GAAP adjustments for each period sales are in... Which the Company is committed to helping people across the country live better by! Additional alert options at any time digital sales are excluded from identical increase. Security risk fees paid in connection with acquisition and financing activities by making a meaningful difference, by... 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