Albertsons reaps stronger sales gains in third quarter
Curbside pickup, delivery expansion fuel 9% online sales growth
Russell Redman, Supermarket News
Jan 11, 2022
Albertsons Cos. topped the high end of Wall Street’s earnings-per-share forecast for its fiscal 2021 third quarter as the supermarket giant tallied robust gains in net and identical sales.
For the 12-week quarter ended Dec. 4, net sales and other revenue climbed 8.6% to $16.73 billion from $15.41 billion a year earlier, Albertsons reported Tuesday. The Boise, Idaho-based food and drug retailer said the growth reflects a 5.2% year-over-year uptick in identical sales, as well as higher fuel sales, sales from new and acquired stores, retail price inflation and incremental sales from administering COVID-19 vaccines.
Albertsons posted net and comparable sales increases in the third quarter after gains of 4.7% and 1.5%, respectively, in the fiscal 2021 second quarter and atop growth of 9.3% in net sales and 12.3% in identical sales in the fiscal 2020 third quarter.
“In Q3 2021, ID sales increased 5.2% and 17.5% on a two-year stack. We also gained unit and dollar market share in food and MULO [multi-outlet retail channel] on both a one- and two-year basis,” President and CEO Vivek Sankaran told analysts in a conference call on Tuesday...