Albertsons Companies, Inc. reported a net income of $958.6 million for the fiscal year ending February 22, 2025, translating to $1.64 per diluted share. This represents a decline from the previous year's net income of $1.3 billion, or $2.23 per diluted share. The company's total revenue for fiscal 2024 was approximately $80.4 billion, a 1.5% increase from $79.2 billion in fiscal 2023. The growth in revenue was primarily driven by a 2.0% increase in identical sales, with pharmacy sales being a significant contributor, alongside a notable 24% increase in digital sales.
In terms of operational metrics, Albertsons served approximately 36.2 million customers weekly and operated 2,270 stores across 34 states and the District of Columbia as of the end of the fiscal year. The company also reported a 15% increase in loyalty program membership, reaching 45.6 million members. The expansion of digital services, including Drive Up & Go curbside pickup and home delivery, was a key focus, with these services now available in over 2,200 stores. The company continues to enhance its omnichannel capabilities, which include partnerships with delivery services like Instacart and DoorDash.
Strategically, Albertsons faced challenges following the termination of its merger agreement with Kroger, which was officially ended in December 2024 due to regulatory hurdles. The company is currently pursuing legal action against Kroger for breach of contract, seeking a $600 million termination fee. Despite these challenges, Albertsons is focused on executing its "Customers for Life" strategy, which aims to drive customer engagement through digital initiatives and enhance its product offerings, including the launch of 279 new items in its Own Brands portfolio during the fiscal year.
Financially, the company reported an adjusted EBITDA of $4.0 billion, down from $4.3 billion in the previous year. Operating cash flows were approximately $2.7 billion, reflecting a slight increase from $2.7 billion in fiscal 2023. Albertsons' total debt decreased to $7.8 billion as of February 22, 2025, from $8.1 billion the previous year. The company also announced a share repurchase program of up to $2 billion, with $82.5 million spent on repurchasing shares during fiscal 2024. Looking ahead, Albertsons anticipates capital expenditures between $1.7 billion and $1.9 billion for fiscal 2025, as it continues to invest in store remodels and digital infrastructure.
About Albertsons Companies, Inc.
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