Boise, ID - July 27, 2020
Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the first quarter of fiscal 2020, which ended June 20, 2020.
First Quarter of Fiscal 2020 Highlights
- Identical sales growth of 26.5%
- Digital sales growth of 276%
- Diluted net income per share of $1.00; Adjusted net income per share of $1.35
- Net income of $586 million
- Adjusted EBITDA of $1.7 billion, an increase of 93% compared to the first quarter last year
- COVID-19 related investments of approximately $615 million to support and protect our front-line associates and customers, including more than $275 million in appreciation pay and $53 million for hunger relief in our communities
Albertsons Companies Announces Tentative Agreement with UFCW Local Unions Regarding Pension Benefits for Associates
Will establish new plan to safeguard benefits for associates
BOISE, ID – July 21, 2020 - Albertsons Companies, Inc. (NYSE: ACI) announced today that it has entered into a tentative agreement with the trustees of the United Food and Commercial Workers International Union (“UFCW”) Union-Industry Pension Fund (“National Fund”), providing that ACI will permanently cease to have any obligation to contribute to the National Fund, a multiemployer pension plan, and will completely withdraw from the National Fund, effective as of June 30, 2020. ACI and the UFCW local unions have entered into a Memorandum of Understanding (MOU) that will instead establish a Variable Annuity Pension Plan (the “VAPP”), effective as of July 1, 2020, providing for future security and service benefits for ACI associate.