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Albertsons Companies Reveals Third Quarter Fiscal 2021 Results; Vivek Sankaran Discusses

Albertsons Companies Reveals Third Quarter Fiscal 2021 Results; Vivek Sankaran Discusses


BOISE, ID
Monday, January 24th, 2022

Growth is on the books for Albertsons Companies as it released its third quarter Fiscal 2021 results. The company is continuing to drive year-over-year growth across its organization, reporting net sales and other revenue to be $16.7 billion during the 12 weeks ending December 4, 2021.

Vivek Sankaran, Chief Executive Officer, Albertsons“We are pleased with our third quarter results as we continue to execute against our transformation strategy. 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, Chief Executive Officer. “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. 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.”

Several concentrated efforts contributed to a sales boost during the third quarter of fiscal 2021. Compared to the $15.4 billion earned during the 12 weeks ended December 5, 2020, Albertsons is marking an increase of $1.3 billion. According to the report, sales related to stores acquired and opened since the third quarter of fiscal 2020 were a large contributor to this growth.

Albertsons Companies reported net sales and other revenue was $16.7 billion during the 12 weeks ended December 4, 2021

This increase can also be attributed to a number of other growth metrics:

  • Identical sales increased 5.2 percent; on a two-year stacked basis identical sales growth was 17.5 percent
  • Digital sales increased 9 percent; on a two-year stacked basis digital sales growth was 234 percent
  • 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
  • Adjusted EBITDA of $1.051 billion

This result is especially impressive as Albertsons, like many other businesses, has navigated a difficult time period during which higher supply chain costs and increased product prices posed challenges to the industry.

Stay tuned to Deli Market News as we report on the latest results and projections in the retail and deli industries.

Albertsons Companies
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