Latest news with #AlbertsonsCompanies

Yahoo
4 days ago
- Business
- Yahoo
Albertsons revenue tops expectations as digital sales surges
-- Albertsons Companies, Inc. reported first quarter fiscal 2025 results that met earnings expectations while exceeding revenue forecasts, as the grocery chain saw strong growth in digital sales and pharmacy operations. The company reported adjusted earnings per share of $0.55 for the quarter ended June 14, matching analyst estimates. Revenue came in at $24.88 billion, surpassing the consensus forecast of $24.68 billion and representing a 2.5% increase from the same period last year. Identical store sales rose 2.8%, driven primarily by strong pharmacy sales, while digital sales surged 25% YoY. Albertsons (NYSE:ACI) shares fell 1.5% following the announcement. "In the first quarter, we delivered solid operating and financial performance, while investing in our core operations and improving our customer value proposition," said Susan Morris, Chief Executive Officer. "Ongoing investments in our strategic priorities drove increased engagement across our digital platforms, evidenced by strong growth in our digital sales, pharmacy operations, and membership in our loyalty program." Albertsons reported adjusted EBITDA of $1.11 billion, representing 4.5% of revenue, down from $1.18 billion or 4.9% of revenue in the first quarter of fiscal 2024. The company's gross margin rate decreased to 27.1% from 27.8% a year earlier, primarily due to investments in customer value proposition and growth in lower-margin pharmacy sales. The grocery chain updated its fiscal 2025 identical sales growth forecast to a range of 2.0% to 2.75%, up from the previous guidance of 1.5% to 2.5%. Albertsons maintained its full-year adjusted earnings outlook of $2.03 to $2.16 per share, compared to the analyst consensus of $2.12. Albertsons declared a quarterly dividend of $0.15 per share, payable on August 8 to shareholders of record as of July 25. Related articles Albertsons revenue tops expectations as digital sales surges These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia Risks Rising? Smart Money Dodged 46%+ Drawdowns on These High-Flying Names


Business Wire
4 days ago
- Business
- Business Wire
Albertsons Companies, Inc. Reports First Quarter Fiscal 2025 Results
BOISE, Idaho--(BUSINESS WIRE)--Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the first quarter of fiscal 2025, which ended June 14, 2025. First Quarter of Fiscal 2025 Highlights Identical sales increased 2.8% Digital sales increased 25% Loyalty members increased 14% to 47.3 million Net income of $236 million, or $0.41 per share Adjusted net income of $319 million, or $0.55 per share Adjusted EBITDA of $1,111 million "In the first quarter, we delivered solid operating and financial performance, while investing in our core operations and improving our customer value proposition," said Susan Morris, Chief Executive Officer. "Ongoing investments in our strategic priorities drove increased engagement across our digital platforms, evidenced by strong growth in our digital sales, pharmacy operations, and membership in our loyalty program. To fuel these investments, we leveraged our productivity engine to drive efficiencies throughout our operations." Morris added, "As we look forward to the balance of fiscal 2025, we do so with continued confidence in our Customers for Life strategy. We want to thank our teams for delivering these results and for their ongoing commitment to serving our customers and supporting the communities in which we operate." First Quarter of Fiscal 2025 Results Net sales and other revenue increased 2.5% to $24,880.8 million for the 16 weeks ended June 14, 2025 ("first quarter of fiscal 2025") from $24,265.4 million during the 16 weeks ended June 15, 2024 ("first quarter of fiscal 2024"). This increase was driven by a 2.8% increase in identical sales, with strong growth in pharmacy sales being the primary driver of the identical sales increase. We also continued to grow our digital sales with a 25% increase during the first quarter of fiscal 2025. These increases in Net sales and other revenue were partially offset by lower fuel sales. Gross margin rate decreased to 27.1% during the first quarter of fiscal 2025 compared to 27.8% during the first quarter of fiscal 2024. Excluding the impact of fuel and LIFO expense, gross margin rate decreased 85 basis points compared to the first quarter of fiscal 2024. This decrease in gross margin rate was primarily driven by incremental investments in our customer value proposition, strong growth in pharmacy sales, which carries an overall lower gross margin rate, and increases in delivery and handling costs related to the continued growth in our digital sales, partially offset by the benefits from our productivity initiatives, which included reductions in shrink expense. Selling and administrative expenses decreased to 25.4% of Net sales and other revenue during the first quarter of fiscal 2025 compared to 25.9% during the first quarter of fiscal 2024. Excluding the impact of fuel, Selling and administrative expenses as a percentage of Net sales and other revenue decreased 63 basis points. This decrease in Selling and administrative expenses as a percentage of Net sales and other revenue was primarily attributable to lower merger-related costs, the leveraging of employee costs and operating expenses related to the continued development of our digital platforms and modernization of our technology, partially offset by increases in legal, professional and outside services as well as business transformation costs. The benefits from our productivity initiatives continue to help offset increasing wage rates and other inflationary pressures on our operating expenses. Net gain on property dispositions and impairment losses was $31.9 million during the first quarter of fiscal 2025 compared to net loss of $5.3 million during the first quarter of fiscal 2024. Interest expense, net was $141.8 million during the first quarter of fiscal 2025 compared to $145.7 million during the first quarter of fiscal 2024. This decrease in interest expense, net was primarily attributable to lower average outstanding borrowings. Other income, net was $3.9 million during the first quarter of fiscal 2025 compared to other expense, net of $4.0 million during the first quarter of fiscal 2024. Income tax expense was $75.0 million during the first quarter of fiscal 2025, representing a 24.1% effective tax rate, compared to $69.2 million during the first quarter of fiscal 2024, representing a 22.3% effective tax rate. This increase in the effective rate was primarily driven by the reduction of a reserve for an uncertain tax position due to the expiration of a state statute in the first quarter of fiscal 2024. Net income was $236.4 million, or $0.41 per share, during the first quarter of fiscal 2025, compared to $240.7 million, or $0.41 per share, during the first quarter of fiscal 2024. Adjusted net income was $318.9 million, or $0.55 per share, during the first quarter of fiscal 2025, compared to $391.6 million, or $0.66 per share, during the first quarter of fiscal 2024. Adjusted EBITDA was $1,111.0 million, or 4.5% of Net sales and other revenue, during the first quarter of fiscal 2025 compared to $1,183.9 million, or 4.9% of Net sales and other revenue, during the first quarter of fiscal 2024. Capital Allocation and Common Stock Repurchase Program During the first quarter of fiscal 2025, capital expenditures were $584.6 million, which primarily included the completion of 36 remodels, the opening of three new stores and continued investment in our digital and technology platforms. During the first quarter of fiscal 2025, the Company paid its quarterly dividend of $0.15 per share on May 9, 2025 to stockholders of record as of April 25, 2025. On July 15, 2025, the Company announced the next quarterly dividend payment of $0.15 per share to be paid on August 8, 2025 to stockholders of record as of the close of business on July 25, 2025. During the first quarter of fiscal 2025, the Company repurchased 14.2 million shares of common stock for a total of $314.8 million pursuant to the existing multi-year $2.0 billion repurchase authorization. On March 11, 2025, the Company completed the issuance of $600.0 million in aggregate principal amount of 6.250% senior unsecured notes due March 15, 2033 (the "2033 Notes"). On March 17, 2025, proceeds from the 2033 Notes were used to redeem in full the $600.0 million outstanding of 7.500% senior unsecured notes due March 15, 2026. Fiscal 2025 Outlook The Company is providing an updated fiscal 2025 outlook and expects its financial results to be as follows: Identical sales growth in the range of 2.0% to 2.75% (previously 1.5% to 2.5%) Adjusted EBITDA in the range of $3.8 billion to $3.9 billion, including approximately $65 million related to the Company's 53rd week (unchanged) Adjusted net income per Class A common share in the range of $2.03 to $2.16 per share (unchanged) Effective income tax rate in the range of 23.5% to 24.5% (unchanged) Capital expenditures in the range of $1.7 billion to $1.9 billion (unchanged) The Company is unable to provide a full reconciliation of the GAAP and Non-GAAP Measures (as defined below) used in the updated fiscal 2025 outlook without unreasonable effort because it is not possible to predict certain of the adjustment items with a reasonable degree of certainty. This information is dependent upon future events and may be outside of the Company's control and could have a significant impact on its GAAP financial results for fiscal 2025. The expected effective tax rate does not reflect potential future rate adjustments for the resolution of tax audits or potential changes in tax laws, which cannot be predicted with reasonable certainty. Conference Call The Company will hold a conference call today at 8:30 a.m. Eastern Time, which will be hosted by Susan Morris, CEO, and Sharon McCollam, President & CFO. The call will be webcast and can be accessed at A replay of the webcast will be available for at least two weeks following the completion of the call. About Albertsons Companies Albertsons Companies is a leading food and drug retailer in the United States. As of June 14, 2025, the Company operated 2,264 retail stores with 1,725 in-store pharmacies, 408 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. The Company operates stores across 35 states and the District of Columbia under 22 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. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2024, along with the Albertsons Companies Foundation, the Company contributed more than $435 million in food and financial support, including more than $40 million through our Nourishing Neighbors Program to ensure those living in our communities and those impacted by disasters have enough to eat. Albertsons, Safeway, Vons, Jewel-Osco, Tom Thumb, Randalls, United Supermarkets, Pavilions, Haggen and Balducci's Food Lovers Market are registered trademarks of Albertsons Companies Inc. or its subsidiaries. ACME, Carrs, Kings Food Markets, Shaw's, and Star Market are trademarks of Albertsons Companies Inc. or its subsidiaries. Albertsons associated logos, product names and services are trademarks of Albertsons Companies, Inc. All other trademarks are the property of their respective owners. Forward-Looking Statements and Factors That Impact Our Operating Results and Trends This press release includes "forward-looking statements" within the meaning of the federal securities laws. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. They include statements relating to our future operating or financial performance which the Company believes to be reasonable at this time. You can identify forward-looking statements by the use of words such as "outlook," "may," "should," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions which are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties which are beyond our control and difficult to predict and could cause actual results to differ materially from the results expressed or implied by the statements. Risks and uncertainties that could cause actual results to differ materially from such statements and may adversely impact our financial condition and results of operations include: changes in macroeconomic conditions such as rates of food price inflation or deflation, fuel and commodity prices and uncertainty in international trade including current and potential future tariffs; changes in consumer behavior and spending patterns resulting from macroeconomic conditions, including shifts in state and federal assistance programs; changes in wage rates and our ability to negotiate acceptable contracts with labor unions, including the outcome of pending union negotiations; changes in price of goods sold in our stores and cost of goods used in our food products due to changes in various state and federal government regulations; uncertainty regarding the geopolitical environment; our inability to execute on our standalone business and value-creating strategies following the termination of the merger agreement with Kroger due to prolonged uncertainties and restrictions on our business during the pendency of the merger; litigation in connection with the previously pending merger and the termination of the merger agreement, resulting in ongoing costs that we may be required to pay in connection with the lawsuit against Kroger, or our inability to collect the $600 million termination fee from Kroger, and negative reactions from the financial markets and our suppliers, customers, and associates as a result of the litigation; our ability to recruit and retain qualified associates who are critical to the success of our Customers for Life strategy; failure to achieve productivity initiatives, unexpected changes in our objectives and plans, inability to implement our strategies, plans, programs and initiatives, or enter into strategic transactions, investments or partnerships in the future on terms acceptable to us, or at all; challenges with our supply chain; operational and financial effects resulting from cyber incidents at the Company or at a third party, including outages in the cloud environment and the effectiveness of business continuity plans during a ransomware or other cyber incident; and changes in tax rates, tax laws, and regulations that directly impact our business or our customers. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. Forward-looking statements contained in this press release reflect our view only as of the date of this press release. We undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 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. Non-GAAP Measures and Identical Sales Non-GAAP Measures. EBITDA, Adjusted EBITDA, Adjusted net income, Adjusted net income per Class A common share and Net debt ratio (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. These Non-GAAP Measures exclude the financial impact of items management does not consider in assessing the Company's ongoing core operating performance, and thereby provide useful measures to analysts and investors of its operating performance on a period-to-period basis. 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. The Company also uses Adjusted EBITDA and Net debt ratio for board of director and bank compliance reporting. The Company's presentation of Non-GAAP Measures should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. Identical Sales. As used in this earnings release, the term "identical sales" includes stores operating during the same period in both the current fiscal year and the prior fiscal year, comparing sales on a daily basis. Direct to consumer digital sales are included in identical sales, and fuel sales are excluded from identical sales. Albertsons Companies, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in millions) (unaudited) June 14, 2025 February 22, 2025 ASSETS Current assets Cash and cash equivalents $ 151.0 $ 293.6 Receivables, net 908.9 834.8 Inventories, net 4,976.3 4,989.0 Other current assets 380.7 441.6 Total current assets 6,416.9 6,559.0 Property and equipment, net 9,708.0 9,811.0 Operating lease right-of-use assets 6,174.7 6,153.4 Intangible assets, net 2,281.1 2,318.0 Goodwill 1,201.0 1,201.0 Other assets 688.1 713.3 TOTAL ASSETS $ 26,469.8 $ 26,755.7 LIABILITIES Current liabilities Accounts payable $ 3,834.1 $ 4,092.7 Accrued salaries and wages 1,273.3 1,345.2 Current maturities of long-term debt and finance lease obligations 832.1 57.6 Current operating lease obligations 720.3 705.5 Other current liabilities 1,208.1 1,050.0 Total current liabilities 7,867.9 7,251.0 Long-term debt and finance lease obligations 7,005.6 7,762.5 Long-term operating lease obligations 5,756.4 5,657.2 Deferred income taxes 783.8 824.1 Other long-term liabilities 1,831.8 1,875.0 Commitments and contingencies STOCKHOLDERS' EQUITY Class A common stock 6.0 6.0 Additional paid-in capital 2,188.0 2,184.0 Treasury stock, at cost (701.5 ) (386.7 ) Accumulated other comprehensive income 94.3 94.7 Retained earnings 1,637.5 1,487.9 Total stockholders' equity 3,224.3 3,385.9 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 26,469.8 $ 26,755.7 Expand Albertsons Companies, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (in millions) (unaudited) 16 weeks ended June 14, 2025 June 15, 2024 Cash flows from operating activities: Net income $ 236.4 $ 240.7 Adjustments to reconcile net income to net cash provided by operating activities: (Gain) loss on property dispositions and impairment losses, net (31.9 ) 5.3 Depreciation and amortization 572.7 552.0 Operating lease right-of-use assets amortization 214.1 207.6 LIFO expense 17.3 14.6 Deferred income tax (38.0 ) (56.3 ) Contributions to pension and post-retirement benefit plans, net of expense (income) (43.0 ) (10.9 ) Deferred financing costs 6.3 4.9 Equity-based compensation expense 33.7 36.7 Other operating activities 4.1 6.0 Changes in operating assets and liabilities: Receivables, net (73.2 ) (84.5 ) Inventories, net (4.5 ) 210.7 Accounts payable, accrued salaries and wages and other accrued liabilities (114.6 ) (304.0 ) Operating lease liabilities (127.8 ) (125.9 ) Self-insurance assets and liabilities (6.0 ) 21.5 Other operating assets and liabilities 108.8 242.5 Net cash provided by operating activities 754.4 960.9 Cash flows from investing activities: Payments for property, equipment and intangibles, including lease buyouts (584.6 ) (543.0 ) Proceeds from sale of assets 78.2 3.8 Other investing activities 32.3 1.2 Net cash used in investing activities (474.1 ) (538.0 ) Cash flows from financing activities: Proceeds from issuance of long-term debt, including ABL facility 625.0 — Payments on long-term borrowings, including ABL facility (600.2 ) (200.2 ) Payments of obligations under finance leases (10.1 ) (12.5 ) Dividends paid on common stock (85.7 ) (69.5 ) Treasury stock purchase, at cost (314.8 ) — Employee tax withholding on vesting of restricted stock units (31.4 ) (38.6 ) Other financing activities (5.7 ) — Net cash used in financing activities (422.9 ) (320.8 ) Net (decrease) increase in cash and cash equivalents and restricted cash (142.6 ) 102.1 Cash and cash equivalents and restricted cash at beginning of period 297.9 193.2 Cash and cash equivalents and restricted cash at end of period $ 155.3 $ 295.3 Expand Albertsons Companies, Inc. and Subsidiaries Reconciliation of Non-GAAP Measures (in millions, except per share data) The following table reconciles Net income to Adjusted net income and Adjusted EBITDA (in millions): 16 weeks ended June 14, 2025 June 15, 2024 Net income $ 236.4 $ 240.7 Adjustments: Business transformation (1)(b) 38.3 17.3 Equity-based compensation expense (b) 33.7 36.7 (Gain) loss on property dispositions and impairment losses, net (31.9 ) 5.3 LIFO expense (a) 17.3 14.6 Merger-related costs (2)(b) 19.0 92.3 Certain legal and regulatory accruals and settlements, net (b) 2.6 (8.9 ) Amortization of debt discount and deferred financing costs (c) 6.2 4.9 Amortization of intangible assets resulting from acquisitions (b) 14.8 14.7 Miscellaneous adjustments (3)(e) 6.1 19.0 Tax impact of adjustments to Adjusted net income (23.6 ) (45.0 ) Adjusted net income $ 318.9 $ 391.6 Tax impact of adjustments to Adjusted net income 23.6 45.0 Income tax expense 75.0 69.2 Amortization of debt discount and deferred financing costs (c) (6.2 ) (4.9 ) Interest expense, net 141.8 145.7 Amortization of intangible assets resulting from acquisitions (b) (14.8 ) (14.7 ) Depreciation and amortization (d) 572.7 552.0 Adjusted EBITDA $ 1,111.0 $ 1,183.9 Expand The following tables reconcile diluted net income per Class A common share to Adjusted net income per Class A common share (in millions, except per share data): 16 weeks ended June 14, 2025 June 15, 2024 Numerator: Adjusted net income (4) $ 318.9 $ 391.6 Denominator: Weighted average Class A common shares outstanding - diluted 575.4 581.3 Restricted stock units (5) 8.5 9.3 Adjusted weighted average Class A common shares outstanding - diluted 583.9 590.6 Adjusted net income per Class A common share - diluted $ 0.55 $ 0.66 Expand (1) Includes costs associated with third-party consulting fees related to our Customers for Life strategy and employee termination costs. (2) The first quarter of fiscal 2025 primarily relates to litigation costs and retention program expense related to the terminated merger. The first quarter of fiscal 2024 primarily includes third-party legal and advisor fees and retention program expense related to the merger. (3) Primarily includes net realized and unrealized gains and losses related to non-operating investments, lease adjustments related to non-cash rent expense and costs incurred on leased surplus properties, gains and losses on energy hedges and other items not considered in our core performance. (4) See the reconciliation of Net income to Adjusted net income above for further details. (5) Represents incremental unvested restricted stock units ("RSUs") to adjust the diluted weighted average Class A common shares outstanding during each respective period to the fully outstanding RSUs as of the end of each respective period. (6) Reflects the per share impact of Non-GAAP adjustments for each period. See the reconciliation of Net income to Adjusted net income above for further details. Non-GAAP adjustment classifications within the Condensed Consolidated Statements of Operations: (a) Cost of sales (b) Selling and administrative expenses (c) Interest expense, net (d) Depreciation and amortization: Expand 16 weeks ended June 14, 2025 June 15, 2024 Cost of sales $ 64.1 $ 53.6 Selling and administrative expenses 508.6 498.4 Total Depreciation and amortization $ 572.7 $ 552.0 Expand (e) Miscellaneous adjustments: Expand 16 weeks ended June 14, 2025 June 15, 2024 Cost of sales $ (0.5 ) $ 0.1 Selling and administrative expenses 5.6 11.5 Other (income) expense, net 1.0 7.4 Total Miscellaneous adjustments $ 6.1 $ 19.0 Expand Albertsons Companies, Inc. and Subsidiaries Reconciliation of Non-GAAP Measures (in millions) The following table is a reconciliation of Net Debt Ratio on a rolling four quarter basis: June 14, 2025 June 15, 2024 Total debt (including finance leases) $ 7,837.7 $ 7,857.4 Cash and cash equivalents 151.0 291.1 Total debt net of cash and cash equivalents 7,686.7 7,566.3 Rolling four quarters Adjusted EBITDA $ 3,931.8 $ 4,183.1 Total Net Debt Ratio 1.96 1.81 Expand The following table is a reconciliation of Net income to Adjusted EBITDA on a rolling four quarter basis: Rolling four quarters ended June 14, 2025 June 15, 2024 Net income $ 954.3 $ 1,119.5 Depreciation and amortization 1,838.6 1,800.4 Interest expense, net 455.9 482.9 Income tax expense 176.9 296.1 EBITDA 3,425.7 3,698.9 Business transformation (1) 126.2 50.3 Equity-based compensation expense 103.2 109.3 Loss on property dispositions and impairment losses, net 58.6 21.6 LIFO expense 31.3 32.6 Merger-related costs (2) 181.5 225.8 Certain legal and regulatory accruals and settlements, net 17.6 (15.6 ) Miscellaneous adjustments (3) (12.3 ) 60.2 Adjusted EBITDA $ 3,931.8 $ 4,183.1 Expand (1) Includes costs associated with third-party consulting fees related to our Customers for Life strategy and employee termination costs. (2) Primarily includes third-party legal and advisor fees and retention program expense related to the merger. Also includes litigation costs related to the termination of the merger in December 2024. (3) Primarily includes net realized and unrealized gains and losses related to non-operating investments, lease adjustments related to non-cash rent expense and costs incurred on leased surplus properties, pension settlement loss, gains and losses on energy hedges and other items not considered in our core performance. Expand
Yahoo
10-07-2025
- Business
- Yahoo
Albertsons Companies (ACI) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Analysts on Wall Street project that Albertsons Companies, Inc. (ACI) will announce quarterly earnings of $0.53 per share in its forthcoming report, representing a decline of 19.7% year over year. Revenues are projected to reach $24.72 billion, increasing 1.9% from the same quarter last year. The current level reflects a downward revision of 6.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period. Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock. While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective. Given this perspective, it's time to examine the average forecasts of specific Albertsons Companies metrics that are routinely monitored and predicted by Wall Street analysts. Analysts expect 'Revenues- Fuel' to come in at $1.28 billion. The estimate indicates a change of -3.2% from the prior-year quarter. The average prediction of analysts places 'Number of stores at end of quarter' at 2,270 . Compared to the present estimate, the company reported 2,269 in the same quarter last year. According to the collective judgment of analysts, 'Total Square Footage - Retail Square Feet' should come in at 113.03 million. Compared to the present estimate, the company reported 112.80 million in the same quarter last year. View all Key Company Metrics for Albertsons Companies here>>> Over the past month, Albertsons Companies shares have recorded returns of +5% versus the Zacks S&P 500 composite's +4.4% change. Based on its Zacks Rank #4 (Sell), ACI will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Albertsons Companies, Inc. (ACI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio


Time of India
06-07-2025
- Business
- Time of India
Retail giant Albertsons plans to hire 1,000 people for its Bengaluru tech hub
The USD 80 billion Albertsons Companies—one of the largest food and drug retailers in the US—set up a digital hub in Bengaluru, leveraging the city's tech talent pool. The company plans to hire nearly 1,000 employees in the next 18 months, up from the current 300. Embracing its move as a late mover, Albertsons is turning timing into a strategic advantage. The retail giant is reimagining the future of digital retail from its Bengaluru global capability centre (GCC) to build smarter and more agile solutions. "Our goal is not to catch up; it's about figuring out how to build for the future," said Anuj Dhanda, EVP - chief information and transformation officer at Albertsons Companies. "There's a certain late-mover advantage—we're now able to design solutions with AI and data science at the core, rather than as an afterthought. Many capabilities that once required heavy coding can now be built with little to no code, dramatically increasing speed and agility. That's why we're so excited about our presence in Bengaluru and the incredible talent here driving this transformation." Albertsons has over 2,200 stores, and some of its banners include Safeway, Vons, Acme, Tom Thumb, Randalls, United Supermarkets, Haggen, Carrs, Kings Food Markets, and Balducci's Food Lover's Market. Dhanda said the US retail giant is aiming for a technology refresh. "We need a technology 2.0, with significant shifts underway—that's where Bengaluru and the GCC come in. For success, we realised we need much greater velocity and agility, and to build far more of our own IP than we do today. Our goal is to change the way we work in technology. We've integrated product, data, and full-stack engineers into fully functional, global teams to enable seamless collaboration. We're applying AI and automation across the entire tech stack—not just in software development, but from requirements gathering to infrastructure and observability." Many GCCs are increasingly relocating tech roles to India, signalling growing confidence in shifting solution ownership. "My intent is to have several of my direct reports to be based here. If we consider the leadership group—around 17 to 18 vice-presidents and above—the goal is for at least a third of them to be in Bengaluru within the next 18 months," Dhanda said. He also said that the insourcing mix will shift dramatically, reducing reliance on external IT providers. "We developed numerous digital systems, including pharmacy and health capabilities, and upgraded our financial systems. Going forward, our investment will move from foundational upgrades to development-driven initiatives. While we currently depend heavily on third parties like TCS, Cognizant, and Sapient for resources, we plan to bring much of that work inhouse, empowering our own associates. Our focus is to reduce third-party dependence and build stronger internal teams." Lalit Ahuja, founder of full-stack GCC firm ANSR, said Albertsons is leveraging the late-mover advantage—not late to the party, but arriving at the perfect time to capitalise on a mature market. For retailers, the landscape is defined by thin margins, highly perishable inventory, and intense tech-driven competition—with e-commerce playing an increasingly vital role. "Some companies struggle because tech centres are set up suboptimally. But there are firms which are set up with sharper tech differentiation. We're witnessing significant maturity in the types of roles being introduced, driving modernisation of its tech stack. This includes mainstream adoption of new technologies and a stronger emphasis on product and functional ownership. And AI has become the greatest accelerator of efficiency," Ahuja said. Last year, Accenture picked up a significant minority stake in the Bengaluru and US-based ANSR, which set up over 170 GCCs in India.


Time of India
05-07-2025
- Business
- Time of India
Retail giant Albertsons plans to hire 1,000 people for its Bengaluru tech hub, ETHRWorld
Advt Advt By Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. Bengaluru: The $80 billion Albertsons Companies—one of the largest food and drug retailers in the US—set up a digital hub in Bengaluru, leveraging the city's tech talent pool. The company plans to hire nearly 1,000 employees in the next 18 months, up from the current its move as a late mover, Albertsons is turning timing into a strategic advantage. The retail giant is reimagining the future of digital retail from its Bengaluru global capability centre (GCC) to build smarter and more agile solutions. "Our goal is not to catch up; it's about figuring out how to build for the future," said Anuj Dhanda, EVP - chief information and transformation officer at Albertsons Companies."There's a certain late-mover advantage—we're now able to design solutions with AI and data science at the core, rather than as an afterthought. Many capabilities that once required heavy coding can now be built with little to no code, dramatically increasing speed and agility. That's why we're so excited about our presence in Bengaluru and the incredible talent here driving this transformation." Albertsons has over 2,200 stores, and some of its banners include Safeway, Vons, Acme, Tom Thumb, Randalls, United Supermarkets, Haggen, Carrs, Kings Food Markets, and Balducci's Food Lover's said the US retail giant is aiming for a technology refresh. "We need a technology 2.0, with significant shifts underway—that's where Bengaluru and the GCC come in. For success, we realised we need much greater velocity and agility, and to build far more of our own IP than we do today. Our goal is to change the way we work in technology. We've integrated product, data, and full-stack engineers into fully functional, global teams to enable seamless collaboration. We're applying AI and automation across the entire tech stack—not just in software development, but from requirements gathering to infrastructure and observability."Many GCCs are increasingly relocating tech roles to India, signalling growing confidence in shifting solution ownership. "My intent is to have several of my direct reports to be based here. If we consider the leadership group—around 17 to 18 vice-presidents and above—the goal is for at least a third of them to be in Bengaluru within the next 18 months," Dhanda also said that the insourcing mix will shift dramatically, reducing reliance on external IT providers. "We developed numerous digital systems, including pharmacy and health capabilities, and upgraded our financial systems. Going forward, our investment will move from foundational upgrades to development-driven initiatives. While we currently depend heavily on third parties like TCS, Cognizant, and Sapient for resources, we plan to bring much of that work inhouse, empowering our own associates. Our focus is to reduce third-party dependence and build stronger internal teams."Lalit Ahuja, founder of full-stack GCC firm ANSR, said Albertsons is leveraging the late-mover advantage—not late to the party, but arriving at the perfect time to capitalise on a mature market. For retailers, the landscape is defined by thin margins, highly perishable inventory, and intense tech-driven competition—with e-commerce playing an increasingly vital role. "Some companies struggle because tech centres are set up suboptimally. But there are firms which are set up with sharper tech differentiation. We're witnessing significant maturity in the types of roles being introduced, driving modernisation of its tech stack. This includes mainstream adoption of new technologies and a stronger emphasis on product and functional ownership. And AI has become the greatest accelerator of efficiency," Ahuja said. Last year, Accenture picked up a significant minority stake in the Bengaluru and US-based ANSR, which set up over 170 GCCs in India.