Albertsons Releases First Quarter Financials for 2018
BOISE, Idaho (KLIX) – Albertsons Companies Inc., based in Boise, today released results for its first fiscal quarter of 2018.
"We are pleased with our first quarter results as both identical sales and Adjusted EBITDA increased for the second consecutive quarter," Chairman and CEO Bob Miller said in a prepared statement. "We continue to roll out unique options for our customers as we strive to differentiate through our best in class Own Brands and rapidly expanding eCommerce offerings.”
For the quarter, the company reported that sales and other revenue increased $193.4 million, or 1.0 percent, to $18.7 billion during the 16 weeks ended June 16. Also, it reported it experienced a net quarterly loss was $17.7 million, compared to a net loss of $204.9 million in the first quarter of fiscal 2017. For the full report, click here.
The company also is planning a merger with Rite Aid later this year.
"Together we will be a differentiated leader in Food, Health and Wellness," said President Jim Donald. "We expect to realize $375 million in annual run-rate cost synergies within three years, and have the opportunity to generate $3.6 billion in annual sales synergies to fuel our future growth."