This week, Albertsons reported its first financial results after its failed merger attempt with Rite Aid, with reports showing strong growth in its organics and natural food offerings.
“We are pleased with our second-quarter results, as identical sales grew for the third consecutive quarter and adjusted EBITDA grew over 13% in the quarter compared to last year,” CEO Jim Donald said in a statement. “We are energized and enthusiastic about our company and our ability to generate free cash flow and delever our balance sheet. The team continues to innovate through our digital engagement with customers—in both the four-wall and no-wall environment—through our continued expansion of natural and organic own-brand offerings and through the automation of our distribution centers, which we believe will deliver strong returns going forward.”
For the second quarter ending September 8, revenue totaled $14.02 billion, up 1.4% from $13.83 billion a year earlier. Identical-store sales went up 1% year over year and the company’s e-commerce sales growth increased by 113%.
Additional highlights from the company’s quarterly report include the following:
“We are also thrilled to have completed our store systems conversions related to the Safeway integration, which will allow our operators to relentlessly focus on running great stores,” Donald added.
To read the report in its entirety, click here.
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