Net loss on property dispositions and impairment losses was $7.3 million during the third quarter of fiscal 2022 compared to net gain of $13.4 million during the third quarter of fiscal 2021. 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"). Please go to the link in the email message to retrieve your password. Net income was $424.5 million, or $0.74 per Class A common share, during the third quarter of fiscal 2021 compared to $123.7 million, or $0.20 per Class A common share, during the third quarter of fiscal 2020. 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. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. 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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. We are unable to predict whether the current inflationary environment will continue or whether a deflationary trend will occur. 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. 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. https://www.businesswire.com/news/home/20230301005323/en/, Do Not Sell My Personal Data/Privacy Policy. Melissa Plaisance The following table is a reconciliation of Net income to Adjusted EBITDA on a rolling four quarter basis: Government-mandated incremental COVID-19 pandemic related pay (2). 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. 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. The Company also uses Adjusted EBITDA and Net debt ratio for board of director and bank compliance reporting. BOISE, Idaho-- (BUSINESS WIRE)-- Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the third quarter of fiscal 2022, which ended December 3, 2022. 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, we're dedicated to earning customers for life, and our brand platform now supports and celebrates this commitment. 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. 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. Announces Proposed Senior Notes Offering. All rights reserved. You can sign up for additional alert options at any time. 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. (c) Interest expense, net 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. Kirby Nardo, Albertsons Cos. 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. Each Albertsons Companies banner has its own unique history and local identity. 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.. 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. 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. 2021, Loss (gain) on property dispositions and impairment losses, net, Basic net income per Class A common share, Diluted net income per Class A common share, Weighted average Class A common shares outstanding (in millions), February 26, 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. The Kroger Co. and Albertsons Companies Inc are still on track to divest 250 to 300 stores as part of their effort to dispel antitrust issues regarding their proposed merger plan. -, Albertsons Companies Launches Sincerely, Food, Kroger Seen Reporting Strong Fourth-Quarter Results, Oppenheimer Says, Albertsons Companies, Inc. : Unregistered Sale of Equity Securities, Other Events (form 8-K), https://www.businesswire.com/news/home/20230301005323/en/. Benzinga does not provide investment advice. An email was sent with password retrieval instructions. The call will be webcast and can be accessed at https://investor.albertsonscompanies.com/Event-Calendar. Includes gains of $19.0 million and $106.3 million during the second quarter of fiscal 2022 and fourth quarter of fiscal 2021, respectively, and the $607.2 million charge in the fourth quarter of fiscal 2020 related to the withdrawal from the Combined Plan. (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. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. 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. NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . 2021, December 5, The Company will hold a conference call today at 8:30 a.m. Eastern Time, which will be hosted by Vivek Sankaran, CEO, and Sharon McCollam, President & CFO. Also includes expenses related to acquisitions and expenses related to management fees paid in connection with acquisition and financing activities. 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, Proceeds from issuance of long-term debt, including ABL facility, Payments on long-term borrowings, including ABL facility, Payments of obligations under finance leases, Payment of redemption premium on debt extinguishment, Dividends paid on convertible preferred stock, Employee tax withholding on vesting of restricted stock units, Net cash provided by (used in) financing activities, 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. 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 This press release includes "forward-looking statements" within the meaning of the federal securities laws. 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. 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. https://www.businesswire.com/news/home/20211111006049/en/, Kirby Nardo, Albertsons Cos. Real-time Estimate Cboe BZX Enter Promo Code SAVE30 at checkout. (5) 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, and adjustments for unconsolidated equity investments. See the reconciliation of Net income to Adjusted net income above for further details. 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. Identical Sales. Albertson Media Collective, developed in partnership with CitrusAd and Merkle, is focused on providing opportunities to connect brands with their most loyal shoppers by opening up native display and sponsored product inventory throughout the companys websites. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. Albertsons Companies also pledged $5 million to organizations supporting social justice. 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 increase was driven by the Company's 7.9% increase in identical sales and higher fuel sales, with retail price inflation as the primary driver of the identical sales increase. (2) Related to conversion activities and related costs associated with integrating acquired businesses. Third Quarter of Fiscal 2021 Inquire about advertising opportunities and find out more about Albertsons Media Collective at AMC@albertsons.com. 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 . 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. With last week's announcement of C.A. BOISE, Idaho--(BUSINESS WIRE)-- 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. Albertsons Companies, Inc. The following table is a reconciliation of Adjusted net income to Adjusted EBITDA: Includes costs associated with third-party consulting fees related to our operational priorities and associated business transformation, as well as closures of operating facilities. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends. BOISE, Idaho-- (BUSINESS WIRE)-- Albertsons Companies (NYSE: ACI) today announced that it has deployed a new online service for Electronic Benefits Transfer (EBT) recipients at . Albertsons Companies is a leading food and drug retailer in the United States. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. All rights reserved. 2020, Gain on property dispositions and impairment losses, net, Basic net income per Class A common share, Diluted net income per Class A common share, Weighted average Class A common shares outstanding, February 27, Net sales and other revenue was $16.7 billion during the third quarter of fiscal 2021 compared to $14.1 billion during the third quarter of fiscal 2019. Non-GAAP adjustment classifications within the Consolidated Statement of Operations: The dividend yield on the company stock is 2.37%, while its Forward Dividend ratio is 0.48. 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. Albertson Media Collective, developed in partnership with CitrusAd and Merkle, is focused on providing opportunities to connect brands with their most loyal shoppers by opening up native display and sponsored product inventory throughout the companys websites. (d) (Gain) loss on interest rate and commodity hedges, net: Total (Gain) loss on interest rate and commodity hedges, net. (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. 2022, December 4, 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. 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. See the reconciliation of Net income to Adjusted net income above for further details. On November 1, 2022, the Attorney General for the State of Washington ("Washington Attorney General") filed a motion for a temporary restraining order to prevent the payment of the Special Dividend. Income tax expense was $120.9 million, representing a 24.4% effective tax rate, during the third quarter of fiscal 2022 compared to $98.4 million, representing a 18.8% effective tax rate, during the third quarter of fiscal 2021. After submitting your request, you will receive an activation email to the requested email address. 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 is a leading food and drug retailer in the United States. Albertsons Companies is a leading food and drug retailer in the United States. 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The name reflects the company’s commitment to improve lives by empowering customers to make more informed choices around food and well-being. 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. Albertsons Cos. recently introduced Sincerely Health, a digital health and wellness platform that connects, educates and rewards customers on their health and wellness journey. 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. As of February 27, 2021, the Company operated 2,277 retail stores with 1,727 pharmacies, 400 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. 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. (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. New omnichannel campaign brings to life new "Sincerely" brand platform, capturing the company's commitment to know, nourish and care for its customers. In addition, a deflationary market in future periods could reduce sales growth and earnings. 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. "Our investments in digital transformation, differentiation in Own Brands and Fresh offerings, and the modernization of our operational capabilities contributed to these results. BOISE, Idaho-- (BUSINESS WIRE)-- Albertsons Companies, Inc. (NYSE: ACI) today announced the launch of Albertsons Media Collective, a retail media network designed to deliver digitally native, shopper-centric and engaging branded content to the company's ever-growing network of shoppers. Non-GAAP Measures. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. 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 Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. 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. This press release includes "forward-looking statements" within the meaning of the federal securities laws. The platform will be carried out across the company's various grocery banners and customer experiences. 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. 1 Based on combined results for each company's most recent fiscal year, respectively. 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. See weekly ads, join or log in to your Rewards account, shop online, and find the closest grocery store. (b) Selling and administrative expenses View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. 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. 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 . 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. Adjusted EBITDA was $1,051.2 million, or 6.3% of sales, during the third quarter of fiscal 2021 compared to $967.7 million, or 6.3% of sales, during the third quarter of fiscal 2020. 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. To learn more about Albertsons Cos., visit albertsonscompanies.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. Also includes expenses related to management fees in prior periods paid in connection with acquisition and financing activities. See the reconciliation of Net income to Adjusted net income above for further details. View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005323/en/. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. 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. 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. Joe knew the keys of running a really great store, and it was all about working hard for the . 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. In 1939, Joe Albertson, a former Safeway district manager, took $5,000 he saved and $7,500 he borrowed from his wife's Aunt Bertie, and partnered with L.S. 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