Albertsons reports Q1 adjusted EPS 55c, consensus 54c

Reports Q1 revenue $24.88B, consensus $24.69B. Identical sales increased 2.8% in Q1. Digital sales increased 25% in Q1. Loyalty members increased 14% to 47.3M. “In the first quarter, we delivered solid operating and financial performance, while investing in our core operations and improving our customer value proposition,” said Susan Morris, Chief Executive Officer. “Ongoing investments in our strategic priorities drove increased engagement across our digital platforms, evidenced by strong growth in our digital sales, pharmacy operations, and membership in our loyalty program. To fuel these investments, we leveraged our productivity engine to drive efficiencies throughout our operations.”