Albertsons' same-store sales surge 26.5per cent on grocery delivery demand

Albertsons' same-store sales surge 26.5per cent on grocery delivery demand

U.S. grocer Albertsons Cos Inc on Monday reported a 26.5per cent rise in same-store sales in its first quarter as a publicly listed company, driven by demand for home deliveries of groceries during the COVID-19 pandemic.

FILE PHOTO:  Customers leave an Albertsons grocery store with their purchases in Burbank
FILE PHOTO: Customers leave an Albertsons grocery store with their purchases in Burbank, California, U.S., July 17, 2012. REUTERS/Fred Prouser/File Photo

REUTERS: U.S. grocer Albertsons Cos Inc on Monday reported a 26.5per cent rise in same-store sales in its first quarter as a publicly listed company, driven by demand for home deliveries of groceries during the COVID-19 pandemic.

Net sales and other revenue rose to US$22.75 billion for the quarter ended June 20, from US$18.74 billion a year earlier.

Albertsons' net income rose to US$586.2 million, or US$1 per share, in the first quarter, from US$49 million, or 8 cents per share, a year earlier.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

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