Albertsons Companies, Inc. Reports Fourth Quarter and Full Year Results Boise, ID - April 22, 2024 Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the fourth quarter of fiscal 2023 and full year fiscal 2023, which ended February 24, 2024. Fourth Quarter of Fiscal 2023 Highlights • Identical sales increased 1.0% • Digital sales increased 24% • Loyalty members increased 16% to 39.8 million • Net income of $251 million, or $0.43 per share • Adjusted net income of $318 million, ...

Albertsons Companies, Inc. (ACI) is likely to register a marginal increase in the top line when it reports fourth-quarter fiscal 2023 results on Apr 22 before market open. The Zacks Consensus Estimate for revenues is pegged at $18,417 million, which indicates growth of 0.8% from the prior-year reported figure.The bottom line of this operator of membership warehouse clubs is expected to decrease year over year. The Zacks Consensus Estimate for fourth-quarter earnings per share has been stable at 54 cents ove ...

The lawsuit filed by the Biden administration's Federal Trade Commission (FTC) to block the proposed $24.6 billion merger between Kroger and Albertsons has kick-started a debate over whether the tie-up would undermine competition, as the agency contends, or if it would be beneficial for consumers. The deal would see Kroger acquire Albertsons and its subsidiaries to position the supermarkets to better compete with big-box retailers like Walmart and Costco. Kroger has said that no stores would close due to th ...

LOS ANGELES, CA - OCTOBER 14: A shopper visits Albertsons at 3901 Crenshaw Blvd on Friday, Oct. 14, ... [+] 2022 in Los Angeles, CA. Kroger, that parent company of Ralphs, plans to buy Albertsons, parent company of Vons, in a deal valued at $24.6 billion, a merger that would combine the two largest grocery-store chains in the U.S. (Jason Armond / Los Angeles Times via Getty Images)Los Angeles Times via Getty ImagesKroger and Albertsons ACI , two of the nation’s largest supermarket chains agreed to merge in ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

HOUSTON, TEXAS - SEPTEMBER 09: A customer loads his truck after shopping at a Kroger grocery store ... [+] on September 09, 2022 in Houston, Texas. Kroger stock increased six percent as the company surpassed profit and sales expectations. (Photo by Brandon Bell/Getty Images)Getty Images(Disclosure: I am an investor in Albertson's.) The FTC announced that will sue to block the merger of Kroger KR and Albertson's, the two largest U.S. companies that only sell groceries.On the face of it, it seems obvious that ...

The FTC has filed against the proposed Kroger and Albertsons deal (Sarah A. Miller/Idaho ... [+] Statesman/Tribune News Service via Getty Images)TNSAntitrust regulator The Federal Trade Commission filed a lawsuit Monday in an attempt to spike Kroger's long-running attempt to buy rival grocer Albertsons, claiming the merger of the two major grocers would result in higher prices for shoppers and lower wages for workers.In a release, the FTC claimed the deal would hurt supermarket competition for shoppers and ...

Core Viewpoint - The Federal Trade Commission (FTC), along with eight states and Washington, D.C., has filed a lawsuit to block Kroger's proposed $24.6 billion acquisition of Albertsons, citing anti-competitive concerns [1][2]. Group 1: Lawsuit Details - The FTC issued an administrative complaint and filed the lawsuit in the U.S. District Court for the District of Oregon [2]. - Attorney Generals from Arizona, California, Illinois, Maryland, Nevada, New Mexico, Oregon, Wyoming, and Washington, D.C. have joined the lawsuit [2]. - The FTC claims the merger would eliminate competition between the supermarket rivals, leading to higher grocery prices, reduced choices, and lower product quality, while also putting jobs at risk [2]. Group 2: Company Responses - Kroger stated that blocking the merger would harm consumers and workers, contradicting the FTC's intentions [2]. - Albertsons expressed disappointment over the FTC's stance, arguing that blocking the merger would strengthen larger multi-channel retailers like Amazon, Walmart, and Costco [2]. Group 3: Merger Background - In October 2022, Kroger agreed to acquire Albertsons for $24.6 billion, or $34.10 per share, with unanimous approval from both companies [4]. - The proposed merger has faced opposition from legislators and consumer groups, with lawsuits filed in Washington state and Colorado to block the deal [4]. - To address anti-competitive concerns, Kroger and Albertsons agreed to sell 413 stores and other assets to C&S Wholesale Grocers in September [4]. Group 4: Employment Impact - The merger would operate more than 5,000 stores across the country, employing over 700,000 workers, according to the FTC [3].

Core Viewpoint - The Federal Trade Commission (FTC) and eight states are suing to block Kroger's $24.6 billion acquisition of Albertsons, citing concerns over increased grocery prices for consumers [1][2]. Group 1: Legal and Regulatory Concerns - The FTC argues that the merger would eliminate competition between Kroger and Albertsons, leading to higher prices for groceries and essential household items for millions of Americans [1][4]. - The lawsuit is supported by states including Arizona, California, and Illinois, which have raised concerns about access to groceries and pharmacies in rural areas [2][4]. - The Biden administration is actively opposing large mergers that could lead to price hikes across various sectors, including groceries [4]. Group 2: Market Impact and Consumer Concerns - The merger is expected to exacerbate existing grocery price inflation, which has already strained consumer finances [4]. - Kroger has proposed divesting 413 stores and eight distribution centers to gain regulatory approval, but the FTC has deemed this proposal inadequate [5]. - Lawmakers, including Senators Elizabeth Warren and Bernie Sanders, have expressed opposition to the merger, highlighting its potential negative impact on consumers and suppliers [7]. Group 3: Kroger's Position - Kroger defends the merger by stating it has consistently reduced prices since 2003 and argues that blocking the deal would strengthen larger non-unionized competitors like Walmart and Amazon [2][4]. - The company claims that the merger would allow it to compete more effectively against these retail giants [2].

The Federal Trade Commission (FTC) sued to block the proposed $24.6 billion merger of Kroger and Albertsons, alleging that the deal is anticompetitive. The deal has faced fierce pushback from the government over concerns that it would lead to higher prices and lower-quality goods for millions of Americans. "Kroger’s acquisition of Albertsons would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today," said Henry Liu, dir ...