- Albertsons Companies (ACI, Financial) reported Q4 2024 identical sales growth of 2.3% and digital sales growth of 24%.
- The company's loyalty program experienced a 15% increase, reaching 45.6 million members.
- A leadership transition was announced, with COO Susan Morris set to succeed retiring CEO Vivek Sankaran by May 1, 2025.
- Albertsons authorized a $2.0 billion share repurchase program and increased quarterly dividend by 25% to $0.15 per share.
Albertsons Companies, Inc. (ACI) reported its fourth-quarter and full-year fiscal 2024 results with a mixed performance, showcasing strong top-line growth but declining profitability metrics. The company's identical sales grew by 2.3% in the fourth quarter, mainly driven by robust pharmacy sales. Digital sales surged by 24%, reflecting effective e-commerce execution.
On profitability, Q4 net income decreased to $172 million, or $0.29 per share, from $250.5 million, or $0.43 per share, the previous year. Adjusted EBITDA fell to $855 million from $916 million, and the gross margin rate narrowed to 27.4% from 28.0% year-over-year.
Albertsons announced a leadership transition, with COO Susan Morris succeeding retiring CEO Vivek Sankaran effective May 1, 2025. The company also raised its quarterly dividend by 25% to $0.15 per share and initiated a $2.0 billion share repurchase program, indicating confidence in its long-term strategy despite near-term challenges.
Looking ahead to fiscal 2025, Albertsons projects identical sales growth of 1.5% to 2.5%, with an Adjusted EBITDA forecast between $3.8 billion and $3.9 billion. Capital expenditures are anticipated in the range of $1.7 billion to $1.9 billion.
