In evaluating our financial results and forward-looking statements, you should carefully consider the risks and uncertainties more fully described in the "Risk Factors" section or other sections in our reports filed with the SEC including the most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Additional Information and Where to Find It. These conversions represented approximately 15% of the convertible preferred stock outstanding as of the end of the third quarter of fiscal 2021. retail consumer behavior and environment and the Company's industry; ability to attract and retain qualified associates; failure to achieve productivity initiatives; increased rates of food price inflation or future deflation; and. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. See the reconciliation of Net income to Adjusted net income above for further details. See the reconciliation of Net income to Adjusted net income above for further details. Risks and uncertainties that could cause actual results to differ materially from such statements include: All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements and risk factors. You can identify forward-looking statements by the use of words such as "outlook," "may," "should," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions which are intended to identify forward-looking statements. Adjusted EBITDA was $1,158.0 million, or 6.4% of Net sales and other revenue, during the third quarter of fiscal 2022 compared to $1,051.2 million, or 6.3% of Net sales and other revenue, during the third quarter of fiscal 2021. Albertsons Companies is a leading food and drug retailer in the United States. (3) Includes $44.7 million in bonus payments related to front-line associates during the third quarter of fiscal 2020. (6) Represents the conversion of convertible preferred stock to the fully outstanding as-converted Class A common shares as of the end of each respective period, for periods in which the convertible preferred stock is antidilutive under GAAP. The following table is a reconciliation of Net Debt Ratio on a rolling four quarter basis: Cash and cash equivalents, net of Special dividend payable, Total debt net of cash and cash equivalents, net. On December 9, 2022, the Superior Court ruled in favor of the Company and denied the Washington Attorney General's request for a preliminary injunction, but extended the temporary restraining order in order for the Washington Attorney General to seek review from the Washington Supreme Court. Adjustments to reconcile net income to net cash provided by operating activities: Gain on property dispositions and impairment losses, net, Operating lease right-of-use assets amortization, Contributions to pension and post-retirement benefit plans, net of (income) expense, Gain on interest rate swaps and energy hedges, net. NAPA, Calif., Sept. 30, 2021 /PRNewswire/ -- The Napa Valley Wine Academy (NVWA), America's Premier W. See more . (d) (Gain) loss on interest rate and commodity hedges, net: Total (Gain) loss on interest rate and commodity hedges, net. The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. On December 19, 2022, the commissioner of the Washington Supreme Court announced that the Court will, sitting en banc, consider the Washington Attorney General's application for review. Net sales and other revenue was $16.7 billion during the third quarter of fiscal 2021 compared to $14.1 billion during the third quarter of fiscal 2019. Albertsons Companies, Inc. and Subsidiaries, Condensed Consolidated Statements of Operations, (dollars in millions, except per share data), December 3, A favorable economic backdrop together with the heroic performance of our frontline retail, distribution, and manufacturing teams contributed to these better-than-expected results," said Vivek Sankaran, CEO. This press release includes "forward-looking statements" within the meaning of the federal securities laws. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. (4) Represents incremental pay that is legislatively required in certain municipalities in which we operate. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. Stockhouse membership requires an email address which must be shared by Facebook. Brand campaigns will begin February 27, 2022, and allow partners to access some of the most valuable positions across Albertsons Companies websites and apps, tapping into over 100 million shoppers across the country, including more than 2,200 store locations and over 27 million members of the companys Just for U loyalty program. Media opportunities include advertising placements on Albertsons owned properties such as its homepage, department, category, sub-category, email, search, app, pharmacy, as well as on Albertsons off-site targeted ad placements. Other companies may have different definitions of Non-GAAP Measures and provide for different adjustments, and comparability to the Company's results of operations may be impacted by such differences. Meanwhile, our latest consensus estimate is . All rights reserved. Includes gains of $19.0 million and $106.3 million during the second quarter of fiscal 2022 and fourth quarter of fiscal 2021, respectively, and the $607.2 million charge in the fourth quarter of fiscal 2020 related to the withdrawal from the Combined Plan. See the reconciliation of Net income to Adjusted net income above for further details. All rights reserved. You may obtain copies of all documents filed by the Company with the SEC regarding this transaction, free of charge, at the SEC's website, www.sec.gov or from the Company's website at https://www.albertsonscompanies.com/investors/overview/. You can sign up for additional alert options at any time. Gross margin rate increased to 28.9% during the third quarter of fiscal 2021 compared to 28.3% during the third quarter of fiscal 2019. On December 28, 2022, the Court scheduled the en banc conference to take place on January 17, 2023. In 1939, Joe Albertson, a former Safeway district manager, took $5,000 he saved and $7,500 he borrowed from his wife's Aunt Bertie, and partnered with L.S. (1) Includes costs related to closures of operating facilities and third-party consulting fees related to our strategic priorities and associated business transformation. An email was sent with password retrieval instructions. 2022, Current maturities of long-term debt and finance lease obligations, Current maturities of operating lease obligations, Long-term debt and finance lease obligations, TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY, Condensed Consolidated Statements of Cash Flows. A replay of the webcast will be available for at least two weeks following the completion of the call. The campaign told from the perspective of what food sees is designed to boost awareness and drive positive perception of the grocer’s strengths in high-quality fresh produce, meats and seasonal ingredients, and to build a more emotional connection between customers and their local Albertsons Cos. banner. Supplemental Two-Year Results, Net income per Class A common share two-year CAGR, Adjusted net income per Class A common share two-year CAGR. Cookies are used to offer you a better browsing experience and to analyze our traffic. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans' outreach. 1 Based on combined results for each company's most recent fiscal year, respectively. After submitting your request, you will receive an activation email to the requested email address. In 2021, along with the Albertsons Companies Foundation, the Company contributed nearly $200 million in food and financial support, including approximately $40 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat. By default, joining or signing in using your Facebook account will work and the email address will be shared by Facebook automatically. Such risks and uncertainties could cause actual results to differ materially from those expressed or forecasted by us. The Company will hold a conference call today at 8:30 a.m. Eastern Time, which will be hosted by Vivek Sankaran, CEO, and Sharon McCollam, President & CFO. To learn more about Albertsons Cos., visit albertsonscompanies.com. The following tables reconcile Net income to Adjusted net income, and Net income per Class A common share to Adjusted net income per Class A common share for the 12 weeks ended December 4, 2021, December 5, 2020 and November 30, 2019: November 30, 2019 At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. On November 1, 2022, the Attorney General for the State of Washington ("Washington Attorney General") filed a motion for a temporary restraining order to prevent the payment of the Special Dividend. Offer Expires 01/12/24. The following table is a reconciliation of Net Debt Ratio on a rolling four quarter basis: Total debt (including finance leases and excluding operating leases), Total debt net of cash and cash equivalents. The Sincerely brand platform is designed to deepen the emotional connection at every customer touchpoint. 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