Effective sales-driving efforts, and improved economy and consumer confidence helped Albertsons Co. post strong identical-store sales gains in the fourth quarter and fiscal year, the retailer said in an amendment to a stock prospectus filed with federal securities regulators Thursday.
Non-fuel ID sales for the fourth quarter ended Feb. 27 improved by 4.7%, with Safeway stores posting 5.8% comp gains in the quarter, the company said. Sales for the fiscal year totaled $58.7 billion with a net loss of $502 million. Same-store sales for the year improved by 4.4%.
Adjusted EBITDA for the year totaled $2.7 billion and free cash flow — defined as adjusted EBITDA less capital expenditures — totaled $1.7 billion.
"In addition to realizing increased sales, profitability and free cash flow through the implementation of our operating playbook, we expect synergies from the Safeway acquisition to enhance our profitability and free cash flow over the next few years," Albertsons said.
As previously reported, the Boise, Idaho-based company is seeking to raise around $1.5 billion through the sale of 65.3 million shares in an initial public offering at a proposed price of $24.50 per share.
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