Albertson Companies Flat on Financials

Albertsons Companies, Inc. (NYSE: ACI) share prices squeeze higher Monday, on reporting results for the fourth quarter of fiscal 2023 and full year fiscal 2023, which ended February 24, 2024.

In the fourth quarter, identical sales increased 1.0%; Digital sales increased 24%; Loyalty members increased 16% to 39.8 million; Net income of $251 million, or $0.43 per share; Adjusted net income of $318 million, or $0.54 per share; Adjusted EBITDA of $916 million

On the fiscal year, identical sales increased 3.0%; digital sales increased 22%; Net income of $1,296 million, or $2.23 per share; Adjusted net income of $1,694 million, or $2.88 per share; Adjusted EBITDA of $4,318 million

"We delivered another solid quarter amidst a difficult industry backdrop," said Vivek Sankaran, CEO. "Again this quarter, we focused on our strategy to create Customers for Life, which drove strong growth in digital and pharmacy, deepened our omnichannel relationships with our customers and improved our in-store experience. We are pleased with our fiscal 2023 financial results, particularly in omnichannel where we have increased our investments in technology, digital and in-store customer experience and supply chain operations. We want to thank all of our teams who continue to deliver on our commitment to serving our customers and communities."

ACI shares began the week up but four cents to $20.39.

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