CEO Vivek Sankaran says well-executed strategic plan fueled strong sales, earnings growth
Albertsons Cos. tallied double-digit gains in identical sales and saw digital sales surge over 250% in its 2020 fourth quarter and fiscal year.
For the 12 weeks ended Feb. 27, net sales and other revenue totaled $15.77 billion, up 2.2% from $15.44 billion in the 13-week fiscal 2019 fourth quarter, Albertsons said Monday. The Boise, Idaho-based grocer attributed the uptick mainly to an 11.8% year-over-year rise in identical sales, partially offset by the impact of the 53rd week a year ago and lower fuel sales.
Full-year 2020 net sales and other revenue, covering 52 weeks, climbed 11.6% to $69.69 billion from $62.46 billion in 53-week fiscal 2019. A 16.9% identical-sales increase drove results, despite a partial offset from lower fuel sales and the extra week in 2019, according to the company.