Albertsons Companies Inc Stock Price, News & Analysis

Albertsons Companies has partnered with Phosphorus to offer at-home COVID-19 test kits in select markets, with plans for broader availability by October. These saliva tests provide results within 72 hours of lab receipt and received Emergency Use Authorization from the FDA. The test process includes a brief online questionnaire reviewed by a pharmacist, with results delivered via email or text. Currently, the tests require out-of-pocket payment without direct insurance billing. This initiative aims to enhance testing accessibility while alleviating pressure on healthcare systems.

On September 2, 2020, Albertsons Companies (NYSE: ACI) announced that President and CEO Vivek Sankaran will speak at the Goldman Sachs 27th Annual Global Retailing Conference on September 9, 2020, at 4:10 p.m. ET. The presentation will be available via webcast, accessible on the Company’s website. Following the event, a replay will be available for about two weeks. Albertsons operates 20 retail banners across 34 states and has committed significant funds to community support, including $53 million for hunger relief and $5 million for social justice initiatives.

Albertsons Companies is expanding its pharmacy services to address decreased child immunization rates due to the COVID-19 pandemic. With support from the U.S. Department of Health and Human Services, pharmacies will now offer immunizations for children aged three and up without appointments at over 1,700 locations. This initiative aims to safeguard children's health by ensuring they receive necessary vaccinations, especially the flu shot, which is critical during the pandemic. Enhanced safety measures, such as mask requirements and sanitation protocols, are in place to protect patients.

Albertsons Companies (NYSE: ACI) has announced a new interactive webcast series called “Albertsons Insights,” set to launch on August 27, 2020, at 11 am ET. This series aims to showcase key aspects of the business and its growth initiatives. The inaugural session will focus on labor relations and multiemployer pension plans, featuring key executives including Bob Dimond and Dan Dosenbach. Future sessions will cover additional topics relevant to the financial community. Interested participants can access the webcast via the company's investor relations webpage.

Albertsons Companies (NYSE: ACI) announced an upsized private offering of $750 million in two series of senior notes: 3.250% due 2026 and 3.500% due 2029. The offering is set to close around August 31, 2020. Net proceeds, combined with $60 million in cash, will fund the redemption of outstanding notes due in 2024 and 2025, including $250 million in 5.750% senior notes. Expected redemption dates are September 11 and September 16, 2020. The new notes are offered under Rule 144A and Regulation S, and have not been registered under the Securities Act.

Albertsons Companies (NYSE: ACI) intends to offer $1,250 million in new senior notes due 2026 and 2029. The proceeds, alongside $50 million in cash, will be used to redeem existing 6.625% Senior Notes due 2024 and cover related expenses. The redemption is contingent upon successfully completing the offering. The new notes will be offered to qualified institutional buyers under Rule 144A and international investors under Regulation S. The notes are unregistered and cannot be sold in the U.S. without registration or an exemption.

Albertsons Companies (ACI) announced a tentative agreement with UFCW to withdraw from the National Fund, effective June 30, 2020. This will eliminate ACI's obligation to contribute to the multiemployer pension plan. Instead, a new Variable Annuity Pension Plan (VAPP) will be established, providing future benefits for employees. ACI plans to pay approximately $286 million to satisfy withdrawal liabilities by June 30, 2023. While a pre-tax charge of $286 million will be incurred, it will not affect Adjusted EBITDA or net income for fiscal 2020.

Albertsons Companies (NYSE: ACI) has launched 13 new Own Brands ice cream products just in time for National Ice Cream Day on July 19. The offerings include innovative flavors such as Signature Select Unicorn Cotton Candy Ice Cream and plant-based options from Open Nature. The new items aim to meet diverse consumer preferences, enhancing customer satisfaction and delight. With a commitment to quality and variety, Albertsons continues to innovate its product line to cater to evolving market demands.