BOISE, Idaho — Since going to work at an Osco Drug store in Chicago as a 15-year-old high school student in early 1972, Mark Panzer has been a force in retail pharmacy. With hard work and the inspiration of role models, Panzer carved out a career in retailing that the editors at Mass Market Retailers
Albertsons Cos. president and chief executive officer Vivek Sankaran recently spoke with Mass Market Retailers editor-in-chief Jeffrey Woldt about the need to remain nimble and flexible as consumer behavior changes, the company’s response to COVID-19, and Albertsons’ growth strategy. This is an edited version of that conversation, which is available in video form on massmarketretailers.com.
BOISE, Idaho — Albertsons Cos. Foundation is awarding almost $14 million in grants from its Nourishing Neighbors community relief fund to local hunger-fighting organizations across the country. The grants include almost $4 million for 13 large grants to organizations across the United States as part of Nourishing Neighbors’ new innovation grant program, which awards grants
BOISE, Idaho – Albertsons Cos. reported net income of $586 million in its first quarter, with pandemic-related demand pushing up identical-store sales by 26.5%, the company said Monday. Digital sales increased 276% in the 16 weeks to June 20, as more shoppers sought to stock up on food and essentials from the safety of their
BOISE, Idaho — Albertsons Cos. has rejoined the ranks of publicly owned retailers following an initial public offering (IPO) of 50 million shares of common stock at $16 per share, or $800 million. Excluding a hefty debt load of almost $8.7 billion, the IPO values Albertsons Cos. at about $9.3 billion. The offering was smaller
NEW YORK — Mass Market Retailers on Tuesday evening honored the outstanding executives who were chosen as the publication’s Six Who Made a Difference in 2019. On hand to receive awards were the following executives: Brian Eason, Vice President of Consumer Health and Wellness, CVS Health. Lori Flees, Senior Vice President of Health and Wellness,
BOISE, Idaho — Vivek Sankaran, president of Frito-Lay North America, has been hired by Albertsons Cos. as the grocery chain’s new president and chief executive officer. The 55-year-old Sankaran is replacing Jim Donald, who took the helm in September, succeeding longtime CEO Bob Miller, who stayed on as chairman of the board of directors and
BOISE — Albertsons Cos. is working with Microsoft on cloud-based computing and artificial intelligence solutions that it says will provide new and transformative experiences for customers and employees. “We are reimagining the future to serve customers in a way they want to interact with us across all channels,” said Anuj Dhanda, Albertsons Cos. executive vice president and
The eleventh-hour collapse of the merger between Albertsons Cos. and Rite Aid Corp. in the face of opposition from the latter’s shareholders raises a host of questions for the two companies and the people who run them. The plug was pulled earlier this month, less than a day before Rite Aid stockholders were to have
CAMP HILL, Pa. — Rite Aid Corp. shareholders will vote on the company’s merger with Albertsons Cos. at a special meeting on August 9. If approved, the $24 billion transaction would take privately held Albertsons public and give its shareholders a majority stake in the combined company. The merged entity would be a top-five food
LAS VEGAS —IRI’s 2018 Growth Summit kicked off yesterday at the Wynn Las Vegas with a record-breaking attendance of approximately 1,500 participants. The Chicago-based market research firm’s 15th annual IRI Growth Summit, running from April 16-18 features visionaries and leaders from the world’s top consumer packaged goods manufacturers, retailers and media agencies.With an ever-changing marketplace,
The pending merger between Albertsons Cos. and Rite Aid, which was announced late last month after extensive negotiations, represents a major milestone for the companies involved and a potentially decisive turning point in the ongoing, if sometimes sporadic, effort by mass market retailers to more closely align nutrition, health and wellness in order to better