BOISE, ID - Albertsons Companies reported results for the third quarter of fiscal 2024, which ended November 30, 2024.

"We delivered solid operating and financial performance in the third quarter of fiscal 2024 in an environment where the consumer remains cautious," said Vivek Sankaran, Chief Executive Officer, in a release from the retailer. "Investments in our Customers for Life strategy drove increased digital engagement across our platforms, evidenced by strong growth in our digital sales, pharmacy operations, and membership in our loyalty program. We want to thank our teams for their ongoing commitment to serving our customers and supporting the communities in which we operate, especially during the holiday season."

Third Quarter of Fiscal 2024 Highlights

• Identical sales increased 2 percent
• Digital sales increased 23 percent
• Loyalty members increased 15 percent to 44.3 million
• Net income of $401 million, or $0.69 per share
• Adjusted net income of $420 million, or $0.71 per share
• Adjusted EBITDA of $1,065 million
• Increased quarterly common stock dividend by 25 percent to $0.15 per share

Sankaran added, "As we look ahead to the balance of fiscal 2024 and beyond, we are energized about our plans to accelerate growth through our Customers for Life strategy, leveraging investments to enhance digital engagement and omnichannel revenue growth, improve our value proposition with customers, and drive digital media growth. At the same time, we expect our robust productivity agenda to provide fuel to invest in the business. We look forward to driving growth and providing value to our customers and returns to our stockholders."

For more information from the report, click here.

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