Albertsons yesterday reported Q3 results that included a 225 percent increase in e-commerce sales and a 12.3 percent same-store sales increase.
According to the announcement, Albertsons' Q3 sales were $15.4 billion, up from $14.1 billion during the same period a year ago. Net income was $123.7 million during the third quarter of fiscal 2020 compared to $54.8 million during the third quarter of fiscal 2019.
Albertsons CEO Vivek Sankaran told analysts yesterday, "We continue to see fewer trips per household but larger baskets … We are encouraged that customers spending more time at home are looking to us."
Sankaran also is quoted as saying that "the trend that I think is going to continue to stick, even after the pandemic, is all of us working just a little bit more at home, having that flexibility to work more at home. And when people work more at home, you eat more breakfasts and lunches at home, and that’s going to drive more in-home consumption. So, the broad theme I’ll leave you with is what we’re excited about is this notion of in-home consumption, either cooking at home or eating at home, both of which drive more sales from people like us who carry a wide variety of fresh product."