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Albertsons Companies, Inc. (1646972) SEC Filing 10-K Annual report for the fiscal year ending Saturday, February 24, 2018

Albertsons Companies, Inc.

CIK: 1646972

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Albertsons Companies Reports Fourth Quarter and Fiscal 2017 Results

Boise, ID - April 11, 2018

Albertsons Companies, Inc. (the "Company") today reported results for the fourth quarter of fiscal 2017 and fiscal year 2017, which ended February 24, 2018.

Fourth Quarter and Fiscal 2017 Highlights

Identical store sales, excluding fuel were positive at 0.6% in the fourth quarter
Net income was $388 million in the quarter, which includes an income tax benefit of $373 million
Adjusted EBITDA was $712 million, or 5.1% of sales, up $25 million in the quarter compared to last year; the Company's strongest fourth quarter since the acquisition of Safeway
Own Brands sales penetration increased 60 basis points to 23% in fiscal 2017 compared to last year
Instacart same day delivery offered in over 1,300 stores at end of fiscal 2017; targeting more than 2,000 stores in fiscal 2018
Drive-up and Go pick-up available in over 100 stores at end of fiscal 2017; targeting more than 500 stores in fiscal 2018
Announced Merger Agreement with Rite Aid, creating a leader in food, health and wellness

"We are very encouraged by the trends in our business as we returned to positive identical store sales and saw operating income and Adjusted EBITDA improvements during the fourth quarter," said Bob Miller, Chairman and CEO. "We expect to continue the positive momentum into fiscal 2018 with identical store sales growth, as we continue to build and expand our digital offerings to enhance loyalty in store and online, including the recent announcement of a new digital marketplace, which is being launched to expand selection for our customers later this year. In addition, we continue to enhance our Own Brand offerings and increase sales of these high-quality items that are unique to our stores. We believe that these efforts, together with incremental synergies from the Safeway acquisition and the additional cost reduction initiatives we outlined last quarter, will result in Adjusted EBITDA of approximately $2.7 billion in fiscal 2018."

"We are also looking forward to our merger with Rite Aid, which will create a leader in food, health and wellness, with excellent presence on the west coast and a strong position in the northeast," added Miller. "We will be uniquely positioned to serve our customers' needs. We expect to realize significant synergies, both increasing revenues and reducing our costs, that in turn should improve shareholder returns and enable us to reduce debt and enhance financial flexibility."

Q4 2017 Results
Sales and other revenue increased $217.1 million, or 1.6%, to $14.0 billion during the 12 weeks ended February 24, 2018 ("fourth quarter of fiscal 2017") from $13.8 billion during the 12 weeks ended February 25, 2017 ("fourth quarter of fiscal 2016"). The increase in sales was primarily driven by the Company's 0.6% increase in identical store sales and higher fuel sales. The Company's identical store sales growth during the quarter benefited from improvements in customer traffic trends and an increase in average ticket.
Gross profit margin decreased to 28.1% for the fourth quarter of fiscal 2017 compared to 28.5% for the fourth quarter of fiscal 2016. Excluding the impact of fuel, gross profit margin decreased 30 basis points. The decrease was primarily


The following information was filed by Albertsons Companies, Inc. on Wednesday, April 11, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Income (loss)
Consolidated Statements Of Stockholders' / Member Equity
Acquisitions
Acquisitions (tables)
Acquisitions - Fiscal 2015 Acquisitions (details)
Acquisitions - Fiscal 2016 Acquisitions (details)
Acquisitions - Fiscal 2017 Acquisitions (details)
Acquisitions - Rite Aid Merger (details)
Acquisitions - Schedule Of Fair Value Assets Acquired And Liabilities Assumed (details)
Acquisitions - Schedule Of Identifiable Intangible Assets Acquired (details)
Commitments And Contingencies And Off Balance Sheet Arrangements
Commitments And Contingencies And Off Balance Sheet Arrangements - Guarantees (details)
Commitments And Contingencies And Off Balance Sheet Arrangements - Legal Contingencies (details)
Derivative Financial Instruments
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Narrative (details)
Derivative Financial Instruments - Schedule Of Cash Flow Hedges (details)
Derivative Financial Instruments - Schedule Of Derivative Instrument Not Designated As Hedging (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies (tables)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Cash And Cash Equivalents (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Company-owned Life Insurance And Self-insurance Liabilities (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Deferred Gains On Leases (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Description Of Business (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Inventories (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Investment In Unconsolidated Affiliates (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Property And Equipment, Intangible Assets And Goodwill (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Revenue Recognition And Costs Of Sales And Vendor Allowances (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Sales Revenue By Similar Products (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Self Insurance Liabilities (details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Segments (details)
Employee Benefit Plans And Collective Bargaining Agreements
Employee Benefit Plans And Collective Bargaining Agreements (tables)
Employee Benefit Plans And Collective Bargaining Agreements - Narrative (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Accumulated Benefit Obligation In Excess Of Plan Assets (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income (loss) (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Assumptions Used (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Changes In Retirement Plan's Benefit Obligation And Fair Value Of Plan Assets (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Components Of Net Pension And Post-retirement Expense (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Expected Future Benefit Payments (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Fair Value Of Plan Assets (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Multiemployer Plan (details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Plan Assets Allocation (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Narrative (details)
Fair Value Measurements - Reconciliation Of Level 3 Liabilities (details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Narrative (details)
Goodwill And Intangible Assets - Schedule Future Amortization Expense (details)
Goodwill And Intangible Assets - Schedule Of Goodwill (details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Narrative (details)
Income Taxes - Schedule Of Components Of Income Tax Benefit (details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (details)
Income Taxes - Summary Of Valuation Allowance Activity (details)
Lease Exit Costs And Properties Held For Sale
Lease Exit Costs And Properties Held For Sale (tables)
Lease Exit Costs And Properties Held For Sale - Narrative (details)
Lease Exit Costs And Properties Held For Sale - Schedule Of Assets And Liabilities Held For Sale (details)
Lease Exit Costs And Properties Held For Sale - Schedule Of Lease Exit Cost Reserves (details)
Leases
Leases (tables)
Leases - Narrative (details)
Leases - Schedule Of Future Lease Payments (details)
Leases - Schedule Of Rent Expense And Rental Income (details)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Albertsons Term Loans (details)
Long-term Debt - Asset-based Loan Facilities (details)
Long-term Debt - Deferred Financing Costs And Interest Expense, Net (details)
Long-term Debt - Schedule Of Future Maturities Of Long-term Debt (details)
Long-term Debt - Schedule Of Interest Expense (details)
Long-term Debt - Schedule Of Long-term Debt (details)
Long-term Debt - Senior Unsecured, Secured Notes And Nalp Notes (details)
Other Comprehensive Income Or Loss
Other Comprehensive Income Or Loss (tables)
Other Comprehensive Income Or Loss - Changes In The Aoci Balance (details)
Property And Equipment
Property And Equipment (tables)
Property And Equipment - Narrative (details)
Property And Equipment - Schedule Of Property And Equipment (details)
Quarterly Information (unaudited)
Quarterly Information (unaudited) (details)
Quarterly Information (unaudited) (tables)
Related Parties And Other Relationships
Related Parties And Other Relationships (tables)
Related Parties And Other Relationships - Narrative (details)
Related Parties And Other Relationships - Schedule Of Related Party Activities (details)
Stockholders' / Members' Equity
Stockholders' / Members' Equity (details)
CIK: 1646972
Form Type: 10-K Annual Report
Accession Number: 0001646972-18-000017
Submitted to the SEC: Fri May 11 2018 4:03:06 PM EST
Accepted by the SEC: Fri May 11 2018
Period: Saturday, February 24, 2018
Industry: Retail Grocery Stores

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