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Albertsons Posts Growth in First Quarter of FY 2020

07/31/2020

In a July 27th release, Albertsons Companies posted a substantial increase in sales following their IPO on January 26th. For the quarter ending June 20th the company posted net income of $586 million on revenue of $22.8 billion. The 26.5 percent increase in same-store sales was attributed mostly to the spike in grocery purchases associated with COVID home confinement. The company recorded a 276 percent increase in digital sales with home delivery options available at 90 percent of existing stores and click-and-collect from 1,600 locations.

 

During the quarter, Albertsons invested $615 million in COVID protection for workers and customers including $275 million in increased pay and over $50 million in donations to food banks.  At the end of fiscal 2019, Albertsons operated 2,252 food and drug stores in thirty-four states and under fourteen banners including Albertsons, Safeway, Vons, Carrs, Jewel-Osco, Shaw's and Haggen.