BOISE, ID - Albertsons is reflecting on a successful quarter through the release of its latest financial results. In its report, the retail chain revealed that its net sales and other revenue reached $18.6 billion during the third quarter of fiscal 2023 (12 weeks ended December 2, 2023). This represents a $400 million climb from the $18.2 billion reported during the third quarter of fiscal 2022.

"We delivered another solid quarter amidst a challenging economic backdrop," said Vivek Sankaran, Chief Executive Officer. "We want to thank all our teams for their commitment to serving our customers and communities. As we look ahead, our ambition is to create Customers for Life, in part through our focus on operational excellence in our stores, driving growth in our digital and pharmacy operations, and deepening our relationships with our customers."

This growth in net sales was primarily driven by the grocer’s 2.9 percent increase in identical sales. The company also continued to grow its digital business, seeing a 21 percent sales increase during the third quarter of fiscal 2023.

"While we are benefiting from our productivity initiatives, we expect to continue to see the impacts of investments in associate wages and benefits, cycling significant prior year food inflation, customers receiving less government assistance, the resumption of student loan payments and other types of payment deferrals, inflationary cost increases, and the outsized growth of our pharmacy and digital businesses as we continue to lean into increased customer engagement in our Customers for Life strategy," Sankaran continued.

Other key highlights from the report include:

• Loyalty members increased 17 percent to 38.5 million
• Net income of $361 million, or $0.62 per share
• Adjusted net income of $462 million, or $0.79 per share
• Adjusted EBITDA of $1,107 million

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