BOISE, ID - Year-over-year growth headlined Albertsons Companies’ most recent financial report. The retailer recently released the results for the second quarter of fiscal 2024, which ended September 7, 2024.
"In the second quarter of fiscal 2024, investments in our Customers for Life strategy continued to drive strong growth in our digital sales and pharmacy operations," said Vivek Sankaran, Chief Executive Officer. "We also drove strong year-over-year growth in our loyalty members and omnichannel shoppers, and accelerated growth in our Albertsons Media Collective. We want to thank our teams for their ongoing commitment to serving our customers and supporting the communities in which we operate."
Highlights from the report include:
- Identical sales increased 2.5 percent
- Digital sales increased 24 percent
- Loyalty members increased 15 percent to 43 million
- Net income of $146 million, or $0.25 per share
- Adjusted net income of $301 million, or $0.51 per share
- Adjusted EBITDA of $901 million
"As we look ahead to the balance of fiscal 2024, we expect to see continuing headwinds related to investments in associate wages and benefits, an increasing mix of our pharmacy and digital businesses which carry lower margins, and an increasingly competitive backdrop," Sankaran added. "We expect these headwinds to be partially offset by ongoing and new productivity initiatives."
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