Albertsons Companies, Inc. Reports Fourth Quarter and Full Year Results
Delivers Fiscal 2020 Results Above Outlook
Provides Fiscal 2021 Outlook
Boise, ID - April 26, 2021
Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the fourth quarter of fiscal 2020 and full year fiscal 2020, which ended February 27, 2021, and provided a fiscal 2021 outlook.
Fourth Quarter 2020 Highlights
•Identical sales growth of 11.8%
•Digital sales growth of 282%
•Net loss per Class A common share of ($0.37); Adjusted Net Income Per Class A Common Share of $0.60
•Net loss of ($144 million); Adjusted Net Income of $347 million
•Adjusted EBITDA of $917 million
Fiscal 2020 Highlights
•Identical sales growth of 16.9%
•Digital sales growth of 258%
•Net income per Class A common share of $1.47; Adjusted Net Income Per Class A Common Share of $3.24
•Net income of $850 million; Adjusted Net Income of $1.9 billion
•Adjusted EBITDA of $4,524 million
•Total Net Debt Ratio reduced to 1.5x, an improvement from 2.9x a year ago
"We are very proud of what our team accomplished in fiscal 2020, serving our customers and communities throughout the COVID-19 pandemic," said Vivek Sankaran, President & CEO. "As a result of our strong execution, we delivered record full-year results, drove meaningful market share gains and are well positioned for continued success and strong performance in fiscal 2021."
"We have made substantial progress against our strategic priorities, and are still in the early innings of our transformation journey. Looking ahead, we remain committed to further strengthening our relationships with our customers, offering a superior shopping experience and generating value for all stakeholders."
Fourth Quarter of Fiscal 2020 Results
Sales and other revenue was $15.8 billion during the 12 weeks ended February 27, 2021 ("fourth quarter of fiscal 2020") compared to $15.4 billion during the 13 weeks ended February 29, 2020 ("fourth quarter of fiscal 2019"). The increase in sales was primarily driven by the Company's 11.8% increase in identical sales, partially offset by the impact of the 53rd week in the fourth quarter of fiscal 2019 and lower fuel sales. Identical sales also benefited from the Company's 282% growth in digital sales.
Gross profit margin increased to 28.9% during the fourth quarter of fiscal 2020 compared to 28.6% during the fourth quarter of fiscal 2019. Excluding fuel, gross profit margin increased 10 basis points. The increase was primarily attributable to improvements in shrink expense and continued sales leverage, partially offset by our growth in digital sales and strategic investments in price.
The following information was filed by Albertsons Companies, Inc. (ACI) on Monday, April 26, 2021 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.