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Albertsons Rises 2.3% as Turnaround Plan Overshadows Weak Q2 Profitability

Albertsons Companies (NYSE: ACI) shares rose about 2.3% after the grocer reported second-quarter fiscal 2026 results and announced a broader business review aimed at accelerating its turnaround and reducing costs.

Quarterly revenue was nearly flat at $18.89 billion, while identical sales declined 0.8%. Digital remained a bright spot, with sales rising 11%, while pharmacy also continued to grow despite Inflation Reduction Act-related pressure.

Profitability weakened. Net income fell to $51.5 million, or $0.11 per share, from $168.5 million, or $0.30 per share, a year earlier. Adjusted EPS declined to $0.36 from $0.44, while adjusted EBITDA fell to $784 million from $848.4 million.

Margins also came under pressure. Gross margin declined to 26.8% from 27.0%, partly due to higher digital delivery costs and shrink, while selling and administrative expenses rose as a percentage of revenue because of weaker identical sales.

The more important catalyst appears to be management’s accelerated turnaround effort. Albertsons said it is conducting a comprehensive review of its customer strategy, cost structure, operating model, banner portfolio, market assets, businesses and capital allocation priorities. This follows the launch of ACI Edge, which consolidated 11 divisions into four regions and centralized center-store merchandising.

However, the company also withdrew its fiscal 2026 outlook and said it will not provide updated guidance until the business review is completed during the fourth quarter. A refreshed short- and long-term financial framework is expected alongside the turnaround plan, with an investor day planned for spring 2027.

The 2.3% gain suggests investors are looking past the weak quarter and focusing instead on the potential for deeper cost reductions, portfolio changes and improved execution under the new turnaround program.

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European Investor 10-13-26

Albertsons Companies Inc. reported a fourth-quarter fiscal 2025 net loss of $481 million, mainly due to a $600 million opioid settlement charge, while adjusted net income reached $252 million.

Despite the loss, sales and digital growth remained positive, and the company raised its dividend by 13% while increasing its share buyback authorization to $2 billion.
Business Wire

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WS Investor 04-14-26

Albertsons Companies, Inc. announced a major debt refinancing transaction, issuing new senior notes to extend maturities and refinance near-term obligations.

On February 2, 2026, Albertsons issued $1.2 billion of 5.625% senior notes due 2032 and $900 million of additional 5.750% senior notes due 2034. The notes were sold to qualified institutional buyers under Rule 144A in the U.S. and to non-U.S. investors under Regulation S. The securities are unsecured and guaranteed on a senior unsecured basis by certain domestic subsidiaries.

The company plans to use the net proceeds, together with cash on hand, to redeem in full $1.35 billion of 4.625% senior notes due 2027 and $750 million of 5.875% senior notes due 2028, effectively refinancing upcoming maturities and extending its debt profile. Remaining proceeds will be used to cover related fees and expenses.

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European Investor 02-03-26

Albertsons Reports Q1 Fiscal 2025 Results: Solid Sales and Digital Growth, Despite Lower Margins

Albertsons Companies, Inc. (NYSE: ACI) reported its financial results for the first quarter of fiscal 2025, which ended June 14, 2025.

Key Highlights:
• Identical sales rose 2.8% year-over-year.
• Digital sales surged 25%.
• Loyalty program membership climbed 14% to 47.3 million members.
• Net income was $236 million ($0.41 per share); adjusted net income was $319 million ($0.55 per share).
• Adjusted EBITDA totaled $1.11 billion, down from $1.18 billion a year earlier.

CEO Susan Morris noted that continued investments in digital platforms, pharmacy, and loyalty programs enhanced customer engagement and value, while internal efficiencies funded these efforts.

Financial Overview:
• Net sales increased 2.5% to $24.88 billion, driven by higher pharmacy and digital sales, offset by lower fuel sales.
• Gross margin fell to 27.1% from 27.8%, due to pricing investments, pharmacy mix, and digital fulfillment costs.
• Selling and administrative expenses improved to 25.4% of sales, helped by lower merger-related costs and operational efficiencies.
• Capital expenditures reached $584.6 million, including 36 store remodels and 3 new stores.
Outlook for Fiscal 2025 (Updated):
• Identical sales growth now expected between 2.0%–2.75% (up from 1.5%–2.5%).
• Adjusted EBITDA expected at $3.8–$3.9 billion.
• Adjusted EPS guidance remains $2.03–$2.16.
• Capital expenditures forecast unchanged at $1.7–$1.9 billion.

Albertsons also announced a $0.15/share quarterly dividend payable on August 8, 2025, and repurchased $314.8 million in stock during the quarter.

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WS Investor 07-15-25

Albertsons Companies Q4 and FY 2024 Results

Albertsons reported Q4 2024 net income of $172 million ($0.29 per share) and adjusted net income of $270 million ($0.46 per share). Adjusted EBITDA was $855 million. Identical sales rose 2.3%, and digital sales grew 24%. For FY 2024, net income was $959 million ($1.64 per share), adjusted net income was $1.38 billion ($2.34 per share), and adjusted EBITDA reached $4 billion.

The company remodeled 127 stores, opened 11 new locations, and announced a $2 billion share repurchase program. It also raised its quarterly dividend from $0.12 to $0.15 per share.

Looking ahead, fiscal 2025 guidance includes:
- identical sales growth of 1.5%–2.5%
- adjusted EBITDA of $3.8–$3.9 billion
- adjusted EPS of $2.03–$2.16 (including a $0.03 boost from a 53rd week)
- capital expenditures of $1.7–$1.9 billion

CEO Vivek Sankaran will retire May 1, 2025, with COO Susan Morris set to take over.

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The Investor 04-16-25

Kroger announced it had filed its legal response and counterclaims in the Delaware Court of Chancery against Albertsons regarding their previously terminated merger agreement. The merger, originally announced in 2022, was terminated in December 2024 following regulatory challenges.

In its filing, Kroger alleges that while it was actively pursuing regulatory approval to close the merger, Albertsons secretly worked with C&S Wholesale Grocers—the proposed divestiture buyer—on an alternate regulatory approach that ultimately undermined the transaction. Kroger claims this misconduct surfaced during antitrust proceedings and contributed to the merger being blocked in court.

Kroger asserts that Albertsons violated its contractual obligation to work in good faith toward completing the deal and instead prepared a litigation strategy in anticipation of the merger’s failure. As a result, Kroger argues Albertsons is not entitled to the $600 million termination fee or other damages it is seeking. Instead, Kroger is pursuing damages from Albertsons, including reimbursement for the costs it incurred trying to complete the deal.

The company reaffirmed its operational strength, noting strong quarterly results and continued investments in lower prices and higher wages, which are driving customer growth and shareholder returns.

Kroger emphasized that the legal claims contain forward-looking statements and acknowledged various risks that could affect future performance, including litigation outcomes, economic conditions, labor dynamics, and regulatory shifts.

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European Investor 03-29-25

Albertsons Companies, Inc. Issues $600 Million in Senior Notes Due 2033
Boise, Idaho – March 11, 2025 – Albertsons Companies, Inc. (NYSE: ACI) announced the issuance of $600 million in 6.250% senior notes due 2033. The proceeds will be used to redeem its existing $600 million in 7.500% senior notes due 2026 and cover related fees and expenses.

Key Transaction Details:
Issuer: Albertsons Companies, Inc. and subsidiaries (Safeway Inc., New Albertsons L.P., Albertsons LLC, Albertsons Safeway LLC)
Amount Issued: $600 million
Interest Rate: 6.250% per annum
Maturity Date: March 15, 2033
Interest Payments: Semi-annually on March 15 and September 15, starting September 15, 2025
Use of Proceeds: Full redemption of $600 million in 7.500% senior notes due 2026 and transaction-related expenses
Redemption & Repurchase Terms:
Optional Redemption:
Before March 15, 2028 – Notes may be redeemed with a make-whole premium
March 15, 2028 - March 15, 2030 – Redemption at a premium, decreasing annually:
103.125% (before March 15, 2029)
101.563% (March 15, 2029 - March 15, 2030)
After March 15, 2030 – Redeemable at par
Change of Control Provision:
If a change of control event occurs with a ratings downgrade, Albertsons must offer to repurchase all outstanding notes at 101% of principal plus accrued interest.
Indenture Terms & Financial Covenants:
Restrictions on:
Creating liens on assets
Entering certain mergers or consolidations
Events of Default:
Non-payment of principal, interest, or premiums
Breach of covenants
Cross-acceleration with other indebtedness
Judgment enforcement
Bankruptcy-related events

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ME NEWS 03-12-25

Albertsons Companies, Inc. has announced that its Chief Executive Officer, Vivek Sankaran, will retire from his position and the company's Board of Directors effective May 1, 2025. The company clarified that Sankaran's departure is not due to any disagreement regarding its operations, policies, or practices.

As part of its succession plan, Albertsons has appointed Susan Morris, currently the company’s Executive Vice President and Chief Operations Officer, as the new CEO. Morris, 56, has been with the company since January 2018 and will also join the Board of Directors upon her appointment as CEO. There are no known related party transactions or family relationships between Morris and other company executives.

A press release announcing the leadership transition has been filed as an exhibit to the company's report.

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European Investor 03-04-25

Albertsons Companies announced that Stephen Feinberg resigned from its Board of Directors on February 21, 2025. His resignation was not due to any disagreement with the company. Frank Bruno was appointed to the Board as his replacement, serving until the 2025 annual stockholders’ meeting. Bruno, the Co-CEO of Cerberus Capital Management, was designated to the Board by Cerberus, which holds a significant stake in Albertsons.

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WS Investor 02-22-25

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