Exhibit 99.1

For more information, contact:

Albertsons Investor Relations
208/395-6622

Albertsons Public Affairs
208/395-4024

ALBERTSONS ANNOUNCES FOURTH QUARTER AND FULL YEAR 2004 RESULTS

Total Sales for Fourth Quarter Exceed $11 Billion

Cost Savings Program Surpasses $1 Billion Target One Full Year Ahead of Schedule

Annual Cash Flow From Operations Grows 38% to $2.1 Billion

Boise, Idaho (March 15, 2005) – Albertson’s, Inc. (NYSE: ABS) today reported financial results for their fourth quarter and fiscal year 2004 which ended February 3, 2005.

For the fourth quarter, the Company reported that net earnings from continuing operations increased 44% to $186 million, or $0.50 per diluted share, compared to $129 million or $0.35 per diluted share in the prior year. Earnings during the fourth quarter were impacted positively by the additions of Shaw’s and Bristol Farms. Earnings were negatively impacted by $0.01 per diluted share due to additional costs associated with the Florida hurricanes, and by a $0.01 per diluted share non-cash lease charge due to a change in the Company’s accounting method for leases. Adding back these unusual items, the Company’s fourth quarter earnings from continuing operations came in at $0.52 per diluted share.

The Company’s quarterly and annual results were impacted by an extra week in fiscal 2004 versus fiscal 2003.

For fiscal 2004, the Company reported earnings from continuing operations of $474 million or $1.28 per diluted share, compared to $1.51 per diluted share in the prior year. Earnings during 2004 were impacted negatively by $0.04 per diluted share due to the net cost of the hurricanes that hit the southeastern United States and by a $0.01 per diluted share non-cash lease charge due to the Company’s change in accounting for leases. Adding back these unusual items, the Company’s 2004 fiscal earnings per diluted share from continuing operations came in at $1.33 per share, consistent with the $1.33 to $1.35 per share earnings guidance range that the Company pre-announced on February 25th.

 


The following information was filed by Albertsons Inc on Tuesday, March 15, 2005 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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