Boise, Idaho, U.S.A.-based Albertsons reported an increase in sales in Q3 2024 and a slightly higher profit outlook for FY 2024.
The grocery chain reported an increase in identical store sales of 2 percent and a significant jump in digital sales of 23 percent. Overall, net sales and other revenue increased 1.2 percent to nearly USD 18.8 billion (EUR 18.2 billion) for the quarter ending 30 November, up from USD 18.5 billion (EUR 17.9 million) it posted during the same period of 2023.
"We delivered solid operating and financial performance in the third quarter of fiscal 2024 in an environment where the consumer remains cautious," Albertsons CEO Vivek Sankaran said, attributing the strong results to investments in its Customers for Life strategy. The initiative drove increased digital engagement across its platforms, growth in pharmacy operations, and membership in its loyalty program, according to the company.
Albertsons' adjusted EBITDA fell slightly to ...
