Store, Digital Sales Boost Albertsons Q2

Albertsons reported a robust second quarter performance, as the supermarket retailer increased both its store and digital sales.

Sales and other revenue increased 11.2% to $15.8 billion during the second quarter ended September 12, 2020, compared to $14.2 billion during the 12 weeks ended September 7, 2019. The increase was driven by the company’s 13.8% increase in identical sales, partially offset by lower fuel sales. Identical sales benefited from the company’s 243% growth in digital sales and an increase in store sales.

Net income was $284.5 million during the second quarter of fiscal 2020 compared to $294.8 million during the second quarter of fiscal 2019. Net income for the second quarter of fiscal 2019 included the benefit of gains related to sale leaseback transactions. Adjusted net income was $356.4 million, or $0.60 per share, during the second quarter of fiscal 2020 compared to $99.2 million, or $0.17 per share, during the second quarter of fiscal 2019.

“We continue to successfully execute against our strategic priorities, which translated into outstanding second quarter results. We have a value proposition that is resonating with customers and driving market share gains across all of our markets,” said Vivek Sankaran, president and CEO, Albertsons. “We are in the early stages of a transformation to become a modern, growing food retailer providing a wide assortment of high quality fresh and essential goods to customers, and we remain well-positioned to generate differentiated performance and deliver an excellent shopping experience.”