Albertsons sees sales rise over 20% in Q1 2020
Digital sales grow by 276% as increase in demand due to COVID-19 continues
Michael Browne, Supermarket News
Jul 27, 2020
On the heels of debuting as a publicly traded company in June, Albertsons Cos. continued its streak of strong sales with its first-quarter 2020 earnings report showing sales up by 21.4% to $22.8 billion during the 16 weeks ended June 20, 2020.
The increase was driven by the Boise, Idaho-based supermarket retailerís 26.5% increase in identical sales, partially offset by a reduction in sales related to store closures and lower fuel sales. Identical sales benefited from a whopping 276% growth in digital sales and an increase in store sales, both largely driven by the COVID-19 pandemic. Albertsons reported that its delivery options now reach 90% of its stores, and accelerated expansion of curbside pickup (Drive Up and Go) is on track to reach 1,600 stores.
Since the beginning of fiscal 2020, Albertsons has experienced significant increases in product demand and overall basket size in stores and in its e-commerce business as customers responded to the circumstances around COVID-19. Due to these circumstances, Albertsons said it was unable to predict the continuing impact of COVID-19 on its business for the balance of the year with reasonable certainty. The ongoing pandemic has dramatically changed the landscape of food-at-home consumption and Albertsons continues to prioritize the health and safety of its associates, customers and communities, said the company...