Albertsons Companies Inc Stock Price, News & Analysis

Albertsons Companies (NYSE: ACI) has initiated its inaugural Innovation Launchpad competition, targeting small and independent brands in the food, beverage, and pet sectors. This competition aims to discover innovative products that meet evolving consumer demands, including low sugar and plant-based options. During the Natural Products Expo West on March 8, 60 applicants will showcase their offerings, with the top three winners receiving prizes worth $170,000, which includes cash and industry recognition. Successful entries may see their products distributed across Albertsons' various banners.

Albertsons Companies (NYSE: ACI) has launched its annual application process for certified diverse-owned suppliers, reinforcing its commitment to diversity, equity, and inclusion. The program targets businesses that are at least 51% owned by women, minorities, LGBTQ+ individuals, veterans, or people with disabilities, encouraging them to partner with Albertsons. The initiative also includes access to early payment terms through a collaboration with C2FO, enabling these suppliers to unlock low-cost capital. Interested businesses can apply at rangeme.com/albertsonsdiversityprogram23 by January 23, 2023.

Afresh Technologies has successfully rolled out its AI-powered predictive ordering and inventory management platform across over 2,000 Albertsons stores in a record seven months. This implementation, which typically takes years, aims to enhance fresh produce management, reduce food waste by 25%, and increase sales by an average of 3%. Afresh's technology allows for better forecasting and inventory control, addressing the unique challenges of fresh food. Albertsons aims to eliminate food waste going to landfill by 2030, making this partnership crucial for sustainability efforts.

Albertsons Companies, Inc. (ACI) reported strong financial results for Q3 fiscal 2022, revealing net income of $376 million ($0.20/share) and adjusted net income of $505 million ($0.87/share), showcasing a 7.9% increase in identical sales and a remarkable 33% growth in digital sales. Despite a gross margin rate decline to 28.2%, ongoing productivity initiatives helped reduce selling and administrative expenses. However, a special cash dividend of $6.85/share was temporarily restrained by legal action from the Washington Attorney General, pending Supreme Court review.

Albertsons Companies, Inc. (NYSE: ACI) has declared a cash dividend of $0.12 per share for the fourth quarter of fiscal 2022. This cash dividend will be payable on February 10, 2023, to shareholders recorded by the close of business on January 26, 2023. The Company operates 2,270 retail stores and is committed to enhancing community welfare, evidenced by its $200 million contribution in food and financial support in 2021.

Albertsons Companies (NYSE: ACI) will release its Q3 fiscal 2022 financial results on January 10, 2023, before market opening. The results cover the period ending December 3, 2022. Notably, in connection with its merger agreement with Kroger Co., Albertsons will not host a conference call or provide guidance for these results. As of September 10, 2022, Albertsons operates 2,272 stores across 34 states and the District of Columbia, including 1,722 pharmacies and 402 fuel centers.

Albertsons Companies, Inc. (NYSE: ACI) announced that the Washington State Supreme Court has expedited the review of a temporary restraining order against its $6.85 per common share Special Dividend. The review date is now January 17, 2023, moved from February 9, 2023. The company asserts that the lawsuits challenging the dividend from various state Attorneys General lack merit, supported by previous court rulings. Meanwhile, the proposed merger with Kroger remains under regulatory review.

Albertsons Companies, Inc. (NYSE: ACI) announced a $6.85 Special Dividend, pending a review by the Washington State Supreme Court on February 9, 2023. A temporary restraining order currently halts payment until further notice. Additionally, the U.S. Circuit Court denied a motion from various Attorneys General seeking to block the dividend. The Company believes these legal claims are baseless. Furthermore, the merger with The Kroger Co. is moving forward through regulatory review.

Albertsons Companies, Inc. (NYSE: ACI) announced that the State of Washington Supreme Court has extended a temporary restraining order against its $6.85 per share Special Dividend as the court reviews an appeal. The order will stay in effect until further notice. Albertsons has filed a motion to expedite this review and maintains that the claims by the Washington Attorney General and similar lawsuits from California, Illinois, and Washington, D.C. lack legal standing. The company’s merger with The Kroger Co. continues through regulatory scrutiny.