Albertsons Cos. reported roughly $18.7 billion in first-quarter net sales and revenue, up slightly from the same period in 2018.
“The increase was driven by the company’s 1.5% increase in identical sales, partially offset by a reduction in sales related to the stores closed in fiscal 2018 and the first quarter of fiscal 2019,” Albertsons wrote in a news release.
The company has 2,268 stores, down from 2,300 in the first quarter of 2018.
Among the highlights Albertsons listed was net income for the quarter: $49 million compared to a loss of $17.7 million for the same time last year.
Same-store sales were up 1.5%, and digital and e-commerce sales were up 33%, according to the release.
Albertsons reported $362 million in capital expenditures for the first quarter, including investments in e-commerce and digital capabilities, 6 new store openings and 28 remodels.
“I am pleased with the position of our business at Albertsons Cos.,” Vivek Sankaran, president and CEO, said in the release. “Identical sales were positive for the sixth consecutive quarter, and we continue to expand our e-commerce and digital capabilities. We are focused on our sales momentum and will continue to elevate the end-to-end customer experience as we work to create a next-generation food retailer. We recognize the ever-changing retail consumer and are working swiftly to adapt our business to allow customers to shop with us whenever, wherever and however they want.
“We also continue to delever the balance sheet, which will reduce interest expense and increase financial flexibility,” Sankaran said.
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