Albertsons Q4, Full-Year Revenue Grows

Fourth quarter sales at Albertsons Companies, Inc. were up more than 5% driven by growth in identical sales, higher prices as the result of inflation and increasing digital penetration.

For the 12 weeks ended Feb. 25, net sales and other revenue was $18.3 billion, compared to net sales and other revenue of $17.4 billion in the comparable quarter the previous year. 

Net income was $311.1 million or $0.54 per share during the fourth quarter of fiscal 2022, which included the $43.5 million or $0.07 per share benefit related to the reduction in reserves for uncertain tax positions. Net income was $455.1 million or $0.79 per share during the fourth quarter of fiscal 2021.

Net sales and other revenue for fiscal year 2022 was $77.7 billion, up from net sales and other revenue of $71.9 billion. Net income was $1.5 billion, down from net income of $1.6 billion in the prior fiscal year. 

"These results, and our results for fiscal 2022 overall, were fueled by the rollout of our Customers for Life transformation strategy, which places the customer at the center of everything we do, with the ultimate goal of supporting them every day, every week, and for a lifetime,” said Vivek Sankaran, Albertsons’ CEO. “Against this backdrop, throughout the year, we invested in the following initiatives: digitally connecting and engaging our customers through a frictionless omnichannel experience, differentiating our store experience, enhancing what we offer and where we offer it, modernizing our operational capabilities, and further embedding ESG throughout our operations."

Looking ahead at fiscal year 2023, Sankaran said the company is well-positioned to drive top-line growth by deepening relationships with its customers even as inflation remains an issue. 

“We also believe that the economic backdrop is uncertain and is likely to be more challenging later in the year,” he said. “We have prepared our business for a more difficult consumer environment, and are expecting significant labor investments and inflationary cost increases.”