1. News
April 13, 2022

Albertsons registers 0.1% decline in full-year sales for FY21

The company expects its FY22 adjusted net income to be between $2.70 and $2.85 for each of its shares.

US-based grocery retailer Albertsons Companies has reported a 0.1% drop in its identical sales for the fiscal year 2021 (FY21) compared with the prior year.

For the 52 weeks to 26 February, the company’s digital sales grew by 5% from the previous year and 263% compared with two years prior.

Albertsons registered a net income of $1.62bn, or $2.70 to a share, while its adjusted net income was $1.78bn, or $3.07 to a share.

For the fourth quarter (Q4), which ended on 26 February, the company’s net sales and other revenue were $17.4bn, compared with $15.8bn in Q4 2020.

This growth was driven by identical sales and higher fuel sales growth of 7.5%.

Digital sales for the quarter increased by 5% from FY20 and 287% from two years previous.

Albertsons registered a net income of $455m, or $0.79 to a share, in Q4, while its adjusted net income was $437m, or $0.75 to a share.

Albertsons CEO Vivek Sankaran said: “We are pleased with our fourth quarter and full-year 2021 results and the continuing momentum we are seeing as we enter 2022.

“Our strategy is working, and we are executing well against industry-wide pressures.

“We want to recognise and thank all of our retail, distribution and manufacturing teams for their commitment to and care of our customers and their communities.”

For FY22, Albertsons expects its identical sales to grow by approximately 2% to 3% and an adjusted net income in the range of $2.70 to $2.85 for each share.

The company operated a network of 2,276 retail stores as of 26 February.

During Q4, Albertsons launched an express grocery delivery service in the US in partnership with on-demand delivery company DoorDash.

The service allows customers to receive deliveries of fresh groceries in less than 30 minutes.