Albertsons Companies Inc Stock Price, News & Analysis

Albertsons Companies, Inc. (NYSE: ACI) announced a plan to offer $750 million in senior notes due 2028. These notes will refinance an equivalent amount of 3.5% senior notes maturing on February 15, 2023. The net proceeds from this offering, along with available cash, will cover the repayment and associated fees. The notes will be offered to institutional buyers under U.S. securities regulations. As of December 3, 2022, Albertsons operates 2,270 retail stores, including 1,720 pharmacies across 34 states. The company continues to navigate numerous risks and uncertainties that may impact its future performance.

Kimco Realty (NYSE: KIM), the leading publicly traded owner of open-air grocery-anchored shopping centers, announced its 2022 dividend distributions, totaling $0.840 for common shares. The dividends were allocated across four payments, with the last at $0.230 per share. Kimco also recognized a long-term capital gain of approximately $251 million from selling shares of Albertsons Companies (NYSE: ACI). This gain will be distributed to shareholders of record as part of their taxable income, with each receiving a federal tax credit corresponding to the income tax paid by Kimco. Detailed information is available on the company's investor relations website.

Albertsons Companies (NYSE: ACI) has announced the rescheduling of its $6.85 per share Special Dividend payment to January 20, 2023, for stockholders of record as of October 24, 2022. This decision follows the lifting of a temporary restraining order on January 17, 2023, imposed by the Supreme Court of Washington, which previously prevented the payment. The company retains the right to revise its outlook based on future events and risks, emphasizing the uncertainty surrounding forward-looking statements.

Albertsons Companies (NYSE: ACI) announced that the Washington Supreme Court denied the Attorney General's motion to stop the payment of a special dividend of $6.85 per common share. The Company will begin distributing the dividend to shareholders of record as of October 24, 2022, after the temporary restraining order was lifted. The dividend payment was initially scheduled for November 7, 2022. Additionally, Albertsons' proposed merger with Kroger is undergoing regulatory review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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.