KR - What's Going On With Albertsons Stock Post Q4 Results & Updated Divestiture Plan? | Benzinga
Albertsons Companies Inc (NYSE:ACI) reported fourth-quarter FY23 sales growth of 0.4% year-on-year to $18.34 billion, missing the analyst consensus estimate of $18.47 billion.
The increase was driven by a 1.0% increase in identical sales, partially offset by lower fuel sales and wholesale revenue. Digital sales increased 24%.
Gross margin rate expanded 20 basis points to 28%. The operating margin was 2.3%, and operating income for the quarter slid 1.7% to $426.2 million.
The company held $188.7 million in cash and equivalents as of February 24, 2024. Operating cash flow for fiscal 2023 totaled $2.66 ...