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Albertsons sales tick up, loss narrows in 1Q

Albertsons Cos. grew sales by 1.9% and identical store sales by 2.9% in the fiscal first quarter ended June 18, the company said in an updated stock prospectus filed with federal regulators Friday.

Jon Springer, Executive Editor

July 29, 2016

1 Min Read

Albertsons Cos. grew sales by 1.9% and identical store sales by 2.9% in the fiscal first quarter ended June 18, the company said in an updated stock prospectus filed with federal regulators Friday.

Sales for the 16-week period totaled $18.4 billion, Albertsons said. The company posted a $134 million loss for the period on an actual basis, and a $43 million loss on a pro-forma basis. The loss narrowed from the same period last year, when Albertsons lost $153 million.

The company filed the prospectus in advance of a planned initial public offering. The company reiterated plans to sell 65.3 million shares of stock at a prosed price of $23 to $26 per share in the offering.

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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