business news in context, analysis with attitude

• Albertsons Companies said yesterday that its Q3 revenue increased 1.8 percent to $13.8 billion compared to $13.6 billion during the same period a year ago, driven by a 1.9 percent increase in same-store sales as well as higher fuel sales; these increases, the company said, were “partially offset by a reduction in sales related to the stores closed in the first three quarters of fiscal 2018.” However, “Net income was $45.6 million during the third quarter of fiscal 2018 compared to net income of $218.1 million during the third quarter of fiscal 2017,” the company said.

Two wins pointed to by the company - Q3 e-commerce sales growth was 73 percent, while private label sales penetration “increased to an all-time high of 25.2 percent.”

Jim Donald, Albertsons’ president/CEO, said in a prepared statement that the company continues “to gain traction in our efforts to deliver a seamless shopping experience for our customers in both the four-wall and no-wall environment.”
KC's View: