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Albertsons Captures Kroger in Comp Pace
Recent momentum forges a new parity among scaled conventionals. Recent momentum forges a new parity among scaled conventionals.
1 Min Read
Recent momentum forges a new parity among scaled conventionals.Photograph courtesy of Albertsons
Newly released sales results show Albertsons is growing same-store sales faster than its larger conventional rival, Kroger.
Boise, Idaho-based Albertsons has out-comped Kroger in two straight quarters, as well as four of the last five, according to a new note to clients from the investment bank Jefferies. While both retailers are growing comps modestly, this indicates a degree of parity between the big conventionals not seen in well more than a decade.
Image courtesy of Jeffries
The Jefferies report cited company filings over a similar time frame. Kroger’s most recent figures, from its fiscal third quarter ending Nov. 9, showed a 2.5% increase in same-store sales, excluding fuel. Albertsons, reporting for the period ending Nov. 30, showed a 2.7% gain.
Both retailers are looking up to the recent same-store sales pace of big-box rivals such as Walmart (up 3.2% in the U.S. in the third quarter) and Target (up 4.5%), although the latter company's figures tend to reflect a wider range of goods and services.
Image courtesy of Jeffries
The Jefferies figures illustrate a new parity between so-called “scaled” conventional grocers and highlight Albertsons’ gradual improvement from a share loser to a gainer. Its third-quarter figures marked its eighth straight quarter of positive same-store sales after a lengthy period of declining or modest quarterly comp gains.
