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Albertsons Companies, Inc. (1646972) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 16, 2018

Albertsons Companies, Inc.

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CIK: 1646972
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Albertsons Companies, Inc. Reports First Quarter Results
Boise, ID - July 16, 2018
Albertsons Companies, Inc. (the "Company") today reported results for the first quarter of fiscal 2018, which ended June 16, 2018.
First Quarter of Fiscal 2018 Highlights and Update on Fiscal 2018 Outlook

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Identical sales increase of 0.2%
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Adjusted EBITDA of $815.8 million, an increase of $44.1 million or 5.7%
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Gross profit margin, excluding fuel, improved 60 basis points
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Fiscal 2018 outlook reaffirmed including 1.5% to 2.0% identical sales growth and Adjusted EBITDA of $2.7 billion
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Expanded Own Brands to include over 400 new items
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Increased Own Brands sales penetration by 56 basis points to 24.0%
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eCommerce sales, including sales of Plated meal kits, grew 108%
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Converted 243 stores; on track with the Safeway integration efforts, with all store conversions to be completed by September 2018

"We are pleased with our first quarter results as both identical sales and Adjusted EBITDA increased for the second consecutive quarter," said Bob Miller, Chairman and CEO. "We continue to roll out unique options for our customers as we strive to differentiate through our best in class Own Brands and rapidly expanding eCommerce offerings. We are also reaffirming our fiscal 2018 guidance today and remain on track to deliver annual Adjusted EBITDA of $2.7 billion and complete the store conversions related to the Safeway integration by September, which we expect to allow us to further grow and enhance our operating performance."

"We are also looking forward to our merger with Rite Aid," added Jim Donald, President and COO. "Together we will be a differentiated leader in Food, Health and Wellness. We expect to realize $375 million in annual run-rate cost synergies within three years, and have the opportunity to generate $3.6 billion in annual sales synergies to fuel our future growth."

First Quarter of Fiscal 2018 Results
Sales and other revenue increased $193.4 million, or 1.0%, to $18.7 billion during the 16 weeks ended June 16, 2018 ("first quarter of fiscal 2018") compared to $18.5 billion during the 16 weeks ended June 17, 2017 ("first quarter of fiscal 2017"). The increase in sales was driven by an increase in fuel sales of $154.1 million and the Company's 0.2% increase in identical sales.
Gross profit margin increased to 27.7% during the first quarter of fiscal 2018 compared to 27.4% during the first quarter of fiscal 2017. Excluding the impact of fuel, gross profit margin increased 60 basis points. The increase was primarily attributable to lower advertising costs, improved product mix and lower shrink expense as a percentage of sales compared to the first quarter of fiscal 2017. Shrink expense improved sequentially by 45 basis points from the fourth quarter of fiscal 2017.

The following information was filed by Albertsons Companies, Inc. on Monday, July 16, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Albertsons Companies, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Acquisitions And Other Investments
Acquisitions And Other Investments - Rite Aid Merger (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Cash, Cash Equivalents, And Restricted Cash (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Narrative (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Sales Revenue By Similar Products (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)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Narrative (Details)
Employee Benefit Plans - Schedule Of Components Of Net Pension And Post-Retirement Expense (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)
Long-Term Debt And Capitalized Lease Obligations
Long-Term Debt And Capitalized Lease Obligations (Tables)
Long-Term Debt And Capitalized Lease Obligations - Merger Related Financing (Details)
Long-Term Debt And Capitalized Lease Obligations - Narrative (Details)
Long-Term Debt And Capitalized Lease Obligations - Schedule Of Long-Term Debt (Details)
Other Comprehensive Income Or Loss
Other Comprehensive Income Or Loss (Tables)
Other Comprehensive Income Or Loss - Changes In The Aoci Balance (Details)
Related Parties And Other Relationships
Related Parties And Other Relationships (Tables)
Related Parties And Other Relationships - Schedule Of Related Party Activities (Details)

Material Contracts, Statements, Certifications & more

Albertsons Companies, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 12.1: Statement Regarding Calculation Of Ratios
Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
CIK: 1646972
Form Type: 10-Q Quarterly Report
Accession Number: 0001646972-18-000037
Submitted to the SEC: Wed Jul 25 2018 4:25:13 PM EST
Accepted by the SEC: Wed Jul 25 2018
Period: Saturday, June 16, 2018
Industry: Retail Grocery Stores

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