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Sep 09, 2023
Albertsons Q2 2024 Earnings Report
Reported strong growth in digital sales and pharmacy operations, driven by investments in the Customers for Life strategy.
Key Takeaways
Albertsons Companies, Inc. reported second quarter fiscal 2024 results with a net sales and other revenue of $18.6 billion, a 2.5% increase in identical sales, and a 24% increase in digital sales. Net income was $146 million, or $0.25 per share, and adjusted net income was $301 million, or $0.51 per share.
Identical sales increased 2.5%.
Digital sales increased 24%.
Loyalty members increased 15% to 43.0 million.
Net income of $146 million, or $0.25 per share.
Albertsons
Albertsons
Forward Guidance
As we look ahead to the balance of fiscal 2024, we expect to see continuing headwinds related to investments in associate wages and benefits, an increasing mix of our pharmacy and digital businesses which carry lower margins, and an increasingly competitive backdrop. We expect these headwinds to be partially offset by ongoing and new productivity initiatives.
Positive Outlook
- Ongoing productivity initiatives
- New productivity initiatives
Challenges Ahead
- Continuing headwinds related to investments in associate wages and benefits
- An increasing mix of our pharmacy and digital businesses which carry lower margins
- An increasingly competitive backdrop