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
BOISE, Idaho — Albertsons Cos. announced on Tuesday that president and chief operating officer Wayne Denningham plans to retire near the end of the company’s fiscal year. Denningham garnered over 40 years with the company, having started working as a clerk as a teenager. The company has named Susan Morris executive vice president and chief
BOISE, Idaho — Albertsons Cos. has signed a deal with Instacart to offer same-day grocery deliveries in more than 1,800 stores by mid-2018, the company announced Tuesday. “Instacart’s extensive delivery network combined with Albertsons Companies’ existing home delivery services and established, robust e-commerce offering creates a fantastic customer proposition,” said Albertsons chief marketing and merchandising
BOISE, Idaho — Albertsons Cos. has appointed Jonathan Mayes as senior vice president of external affairs and chief diversity officer. In this post Mayes will be responsible for overseeing and leading the company’s diversity and inclusion efforts, along with the its government relations, sustainability and philanthropy departments. “As one of the largest employers in the