In this file:

 

·         Albertsons CEO looks ahead after disappointing IPO

·         Albertsons Pulls Off Downsized IPO After Years of Trying

 

 

Albertsons CEO looks ahead after disappointing IPO

In an interview with Grocery Dive, Vivek Sankaran shrugged off the company's lower-than-expected share price and discussed how it will capitalize on favorable consumer trends long term.

 

Jeff Wells, GroceryDive 

June 29, 2020

 

Albertsons has waited a long time to go public, and when the moment finally came it wasn’t the home run the company had hoped for. The grocer’s stock debuted on the New York Stock Exchange at $16 a share and raised $800 million, below the $18 to $20 share price range the company sought.

 

In an interview with Grocery Dive shortly before the markets closed on Friday, CEO Vivek Sankaran chalked the result up to the volatility of the market.

 

“When you begin this process, you begin it at a certain time and with a certain aspiration in mind, and then the markets do what they do,” he said. “The way we think about it is, in what is arguably one of the biggest human calamities in the world with COVID, we IPO’d. A new group of investors put their confidence in us.”

 

Investors may have been nervous about Albertsons’ long-term prospects post-COVID. But Sankaran said he’s seeing consumer habits taking shape that could boost at-home food spending for years to come — most notably the renewal of family cooking traditions and the increase in people working from home.

 

“I think we’re all going to ask ourselves, do we really need to go back like we did like clockwork to our offices or is there another way of working?” he said. “The more people stay at home, the more they’re going to shop our stores.”

 

Albertsons has so far this year benefited from strong execution and having stores in prime locations, Sankaran said. And it will continue to improve its omnichannel shopping experience while also investing in efficiency. The company is continuing to update stores with more fresh items, expand its online operations and competitively price its products. Its supply chain, knocked back at first by panic buying in March and April, has recovered and is strengthening, Sankaran said.

 

E-commerce has gained renewed importance for Albertsons, he noted...

 

more, including links

https://www.grocerydive.com/news/albertsons-ceo-looks-ahead-after-disappointing-ipo/

 

 

Albertsons Pulls Off Downsized IPO After Years of Trying

 

Joshua Franklin, Reuters

via PerishableNews.com - June 29, 2020

 

U.S. supermarket operator Albertsons Companies Inc ACI.N decided to go ahead with a downsized $800 million initial public offering (IPO) on Thursday, the culmination of multiple attempts by its private equity owner Cerberus Capital Management LP to cash out.

 

Cerberus has been an investor in Albertsons since 2006 and has been trying to take the company public since 2015. The grocer’s anemic growth had faced pushback from IPO investors, as well as shareholders of Rite Aid Corp (RAD.N), the pharmacy chain it tried to merge with two years ago.

 

The COVID-19 pandemic buoyed Albertsons’ fortunes, however, as consumers stocked up on food while staying at home. Albertsons’ sales...

 

more

https://www.perishablenews.com/retailfoodservice/albertsons-pulls-off-downsized-ipo-after-years-of-trying/