This Beloved Grocery Chain Is Making a Comeback
Most grocery businesses had a difficult few years after the epidemic and before the biggest inflation in 40 years. One supermarket, though, appears to be turning around.
Albertsons, which manages 2,200+ shops including Safeway, Vons, Jewel-Osco, Acme, Tom Thumb, Star Market, and more, posted "better-than-anticipated" profits on July 26.
This year's sales are up almost 7% and digital sales are up 30%.
Vivek Sankaran, the supermarket's CEO, believes the change is due to its enhanced app and changing consumer behaviour.
Before the increasing visitation, Albertsons suffered a series of slumps, including a 10% sales decrease a year ago.
In 2016, all of its locations in Florida were sold off, and it sold Safeway in 2018.
No indication yet on whether "underperforming banners" would be cut, but experts think "rightsizing" its presence might benefit the business.
Albertsons' size and revenues have fluctuated, but its digital presence has improved, boosting its performance this quarter.
Its redesigned software offers customised shopping recommendations and enhanced options like two-hour delivery and expedited pickup, increasing revenues.
The company has also upgraded its name-brand assortment, including deli sandwiches. Ready Meals will be in over 1,000 locations by 2022.
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