Albertsons' stock price has doubled since it went public. Can it keep the momentum going?
The grocery chain has made significant strides in recent months, particularly on the digital front, but still faces challenges as it looks to keep pace with rivals, analysts said.
Sam Silverstein, GroceryDive
Oct. 4, 2021
When Vivek Sankaran took over as president and CEO of Albertsons in March 2019, the food retailer was privately held, online shopping wasn't generally top-of-mind for grocery industry executives, and the Idaho-based supermarket operator was hardly seen as a digital trendsetter.
Fast forward 30 months, however, and Albertsons has rapidly morphed into a publicly traded company with a solid stock price, robust omnichannel capabilities and a growing reputation as a leader in using technology to connect with shoppers.
While Albertsons may still lag rivals Kroger and Walmart in size and sales, the company has come a long way since Sankaran's arrival, experts said.
"When Albertsons went public last year, one of the concerns we had was that their e-commerce channels were flat and they lagged their larger peers," said Arun Sundaram, an analyst at CFRA Research who follows publicly traded food retailers including Albertsons, Kroger and Sprouts Farmers Market...
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