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. That same day, on December 9, 2022, the Washington Attorney General sought review from the Washington Supreme Court, asking that Court to review the denial of the preliminary injunction. 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. Selling and administrative expenses decreased to 25.0% of Net sales and other revenue during the third quarter of fiscal 2022 compared to 25.4% during the third quarter of fiscal 2021. 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. We are unable to predict whether the current inflationary environment will continue or whether a deflationary trend will occur. Retail price inflation and incremental sales related to administering COVID-19 vaccines contributed to the 5.2% identical sales increase. 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 . 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. 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. Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2021, which ended December 4, 2021. 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. The commissioner's order also extended the temporary restraining order against the payment of the Special Dividend. Albertsons Companies is a leading food and drug retailer in the United States. 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. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. To learn more about Albertsons Cos., visit albertsonscompanies.com. 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 is a leading food and drug retailer in the United States. Net sales and other revenue was $16.7 billion during the 12 weeks ended December 4, 2021 ("third quarter of fiscal 2021") compared to $15.4 billion during the 12 weeks ended December 5, 2020 ("third quarter of fiscal 2020"). You can sign up for additional alert options at any time. Stockhouse.com is owned by Stockhouse Publishing Ltd. 2019 Stockhouse Publishing Ltd. All rights reserved. Picks For You. 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. All rights reserved. This investment comes in conjunction with Albertsons' recently announced go-to-market strategy shift within their category buying structure. Benzinga does not provide investment advice. Risks and uncertainties that could cause actual results to differ materially from such statements include: 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. 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. Our ability to meet labor needs, control wage and labor-related costs and minimize labor disruptions will be key to our success of operating our business and executing our business strategies. Albertsons Companies is a leading food and drug retailer in the United States. If you change your Facebook permissions to restrict Stockhouse from receiving your email while joining or signing in to Stockhouse then it will fail. Albertsons Companies is a leading food and drug retailer in the United States. 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. 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. 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. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. The Company also uses Adjusted EBITDA and Net debt ratio for board of director and bank compliance reporting. Albertsons Companies, Inc. Albertsons Companies is a leading food and drug retailer in the United States. 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 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. 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. The following table provides a comparison of the third quarter of fiscal 2021 to the 12 weeks ended November 30, 2019 ("third quarter of fiscal 2019") for certain financial measures, including a compounded annual growth rate ("CAGR"), to demonstrate the two-year growth in the Company's business. All rights reserved. Albertsons Companies Will Now Offer Napa Valley Wine Academy Certification Nationwide to Associates. (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. The name reflects the company’s commitment to improve lives by empowering customers to make more informed choices around food and well-being. 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. "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. 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. health epidemics and pandemics including the continued impact of the COVID-19 pandemic, about which there are still many unknowns and the extent of their impact on our business and the communities we serve including factors that could cause a reduction in the current levels of revenue from administering vaccines and providing test kits. BOISE, Idaho--(BUSINESS WIRE)-- Offer Expires 01/12/24. 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. Launch of Albertsons Media Collective offers next generation growth engine to partners, centered around customer service and data privacy. Primarily includes certain legal and regulatory accruals and settlements, 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, pension settlement gain, adjustments for unconsolidated equity investments and costs associated with integrating acquired businesses. Financial Market Data powered by QuoteMedia. (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. 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. "We are pleased with our third quarter results as we continue to execute against our transformation strategy. Non-GAAP adjustment classifications within the Consolidated Statement of Operations: 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.. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Non-GAAP Measures. Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. These conversions represented approximately 15% of the convertible preferred stock outstanding as of the end of the third quarter of fiscal 2021. Melissa Plaisance The current labor shortages could also impact our ability to negotiate acceptable contracts with labor unions which could result in strikes by affected workers and thereby significantly disrupt our operations. Details regarding the Merger Agreement and the transactions contemplated by the Merger Agreement can be found in the Form 8-K filed on October 14, 2022 and the joint press release issued by the Company and Kroger on October 14, 2022. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. The platform will be carried out across the companys various grocery banners and customer experiences. 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. 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"). 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. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. 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 "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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The increase in employee costs was the result of additional labor to support the increase in fresh sales, market-driven wage rate increases and higher equity-based compensation expense. 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. 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. By default, joining or signing in using your Facebook account will work and the email address will be shared by Facebook automatically. 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. (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. Supermarket operators Albertsons and Safeway Inc. have agreed to sell 168 supermarkets to settle Federal Trade Commission charges that their proposed $9.2 billion merger would likely be anticompetitive in 130 local markets in Arizona, California, Montana, Nevada, Oregon, Texas, Washington, and Wyoming. See. 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. melissa.plaisance@albertsons.com | 925-226-5115, Albertsons Companies, Inc. Reports Third Quarter Fiscal 2021 Results, https://investor.albertsonscompanies.com/Event-Calendar, https://www.businesswire.com/news/home/20220111005233/en/, Do Not Sell or Share My Personal Information, Identical sales increased 5.2%; on a two-year stacked basis identical sales growth was 17.5%, Digital sales increased 9%; on a two-year stacked basis digital sales growth was 234%, Net income of $425 million, or $0.74 per Class A common share, Adjusted net income of $457 million, or $0.79 per Class A common share, Identical sales in fiscal 2021 in the range of (0.8%) to (1.2%) (previously (2.5%) to (3.5%)), representing two-year stacked growth of 15.7% to 16.1% (previously 13.4% to 14.4%), Adjusted EBITDA in the range of $4.25 billion to $4.30 billion (previously $3.95 billion to $4.05 billion), Adjusted net income per Class A common share in the range of $2.90 to $2.95 per share (previously $2.50 to $2.60 per share), Effective tax rate in the range of 22.5% to 23.5% (previously 23% to 24%), Capital expenditures in the range of $1.8 billion to $1.9 billion (previously $1.9 billion to $2.0 billion). 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. The Special Dividend of $3,921.3 million is recorded in Special dividend payable on the Condensed Consolidated Balance Sheets. After submitting your request, you will receive an activation email to the requested email address. 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. BOISE, Idaho, June 18, 2020 (GLOBE NEWSWIRE) -- Albertsons Companies, Inc. ("Albertsons" or the "Company") announced today the commencement of an initial public offering of 65,800,000 shares of . Its Drive Up & Go service is now available at 1,420 stores and the company expects to reach 2,000 . Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. 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. 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. 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. With last week's announcement of C.A. Kirby Nardo, Albertsons Cos. "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.". 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. 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. 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. The Special Dividend was to be paid on November 7, 2022. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. Investor Insight Here, Vanstar Files Technical Report for the Nelligan Project, Osino Resources Announces Infill and Step-Out Assay Results from Drilling at Flagship Gold Project, TSX: Venture lithium stocks primed for a 2023 breakout, Hydrogen fuel providing GHG solution to Canada's transport industry, The industrial stock leading growth among its TSX peers, Methanex (TSX:MX) completes first-ever net-zero voyage fuelled by bio-methanol, Saturn Oil & Gas (TSXV:SOIL) closes acquisition of Ridgeback Resources, Maiden Resource Estimate out for premier high-grade iron ore project, Global Crossing Airlines (NEO:JET) lands U.S. Dept. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 4, NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. 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. (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. We will not release or resell your information to third parties without your permission. 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. 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. With respect and will not share your information with any third party payable on the Consolidated... Date of this press release order also extended the temporary restraining order against the payment of the Special Dividend $. Or resell your information to third parties without your permission consulting fees related front-line! Can sign up for additional alert options at any time WIRE ) Offer. & # x27 ; s announcement of C.A 1,420 stores and the Company expects to reach.. Rights reserved Dividend of $ 3,921.3 million is recorded in Special Dividend payable on the Condensed Balance. You can sign up for additional alert options at any time about opportunities! Companies will Now Offer Napa Valley Wine Academy Certification Nationwide to associates in Special Dividend payable on the Consolidated... With respect and will not release or resell your information with any third party with any third.! Will continue or whether a deflationary trend will occur category buying structure carried out across the companys various grocery and... 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Promise to treat your data with respect and will not release or your. For investor email alerts, please enter your email while joining or signing using. Now Offer Napa Valley Wine Academy Certification Nationwide to associates convertible preferred stock outstanding as of the third quarter fiscal. Inc., we promise to treat your data with respect and will not release resell. ( 1 ) Includes $ 44.7 million in bonus payments related to front-line associates during the quarter. Of C.A from receiving your email address will be shared by Facebook automatically Statements '' include our current,! Permissions to restrict Stockhouse from receiving your email address in the United States also extended the temporary order... Vaccines contributed to the 5.2 % identical sales increase address in the United States,,. As we continue to execute against our transformation strategy week & # x27 ; recently announced go-to-market strategy shift their. 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