Albertsons records higher sales amid shaky economy

Group 1 - Economic conditions impacted shopping behavior across income levels, with lower-income customers buying fewer items and prioritizing essentials, while middle-income households traded down in some categories due to reduced spending capacity [3] - Albertsons enhanced personalized promotions and loyalty programs in Q3, while managing cost inflation and investing in its private label portfolio, aiming to increase brand penetration from 25% to 30% [4][5] - The company utilized artificial intelligence to improve customer experience and increase basket size, with the "Ask AI" tool leading to a 10% increase in basket size among users [6] Group 2 - Online sales for Albertsons rose by 21% in Q3, with digital penetration reaching approximately 9.5%, and the e-commerce business is expected to become profitable by the end of the year [7] - Net sales and other revenue increased by nearly 2% in Q3 to about $19.1 billion, primarily driven by strong pharmacy sales, with identical sales up by 2.4% despite delays in SNAP benefits distribution [8]