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Albertsons Reports on Q3 of FY 2020

01/09/2020

In a press release dated January 7th privately-held Albertsons Companies Inc. announced results for the 3rd Quarter of Fiscal 2020 ending November 30th 2019.

 

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000)

 

3rd Quarter Ending

Nov. 30th 2019

Dec. 1st 2018

Difference (%)

Sales:

$14,103,000

$13,840,000

+1.9

Gross profit:

$3,995,000

$3,852,000

+3.7

Operating income:

$207,000

$174,000

+19.0

Net Income

$54,800

$45,600

+20.2

Gross Margin (%)

28.3

27.8

+0.5

Operating Margin (%)

1.5

1.3

+15.4

Profit Margin (%)

0.4

0.3

+33.3

Long-term Debt:

$8,615,900

$10,437,600

-17.5

       

Total Assets

$24,991,600

$20,776,600

+20.2

       

Albertsons achieved a same-store sales growth of 2.7 percent for the 3 rd quarter repeating the value attained in Q3 of 2018. Sales of own brands increased by 25.6 percent over Q3 2018 and the combination of store pick-up and 'click-and-collect' increased by 34 percent.

 

In commenting on results Vivek Sankaran, President and CEO stated "our identical sales momentum continued in the third quarter, as our core business continues to deliver strong growth". He added "we are focused on providing our customers with an easy shopping experience, exciting merchandise and friendly customer service in our omni-channel shopping environment, and creating deep and lasting customer relationships.

 

"Sankaran concluded "our productivity and cost reduction initiatives are also beginning to take shape, which we intend to use to fund strategic growth investments, offset cost inflation and support earnings growth".

 

At the end of Q3 Albertsons operated 2,260 supermarkets with 1,732 pharmacies, 23 CDs and 20 manufacturing plants.