Albertsons Companies Inc (NYSE:ACI), one of the largest food and drug retailers in the United States, stock rose 1.22% (As on Jan 12, 11:25:34 AM UTC-4, Source: Google Finance) after the company in the third quarter of FY 21 has reported the net sales and other revenue of $16.7 billion compared to $15.4 billion during the third quarter of fiscal 2020. The increase was driven by the Company’s 5.2% increase in identical sales, as well as higher fuel sales and sales related to stores acquired and opened since the third quarter of fiscal 2020. Retail price inflation and incremental sales related to administering COVID-19 vaccines contributed to the 5.2% identical sales increase. Q3 sales penetration increased 15 basis points year over year to 25.1%, with the strongest performance in the flour, deli and foodservice departments. Adjusted net income was $457.2 million, or $0.79 per Class A common share, during the third quarter of fiscal 2021 compared to $386.6 million, or $0.66 per Class A common share, during the third quarter of fiscal 2020. Adjusted EBITDA was $1,051.2 million, or 6.3% of sales, during the third quarter of fiscal 2021 compared to $967.7 million, or 6.3% of sales, during the third quarter of fiscal 2020. Year to date, the company had launched 540 new products, including 143 in the third quarter and are on track to launch over 800 this year. The company’s next priority is the acceleration of the digital and omni channel capabilities.

Meanwhile, in November, the company had announced the launch of the Albertsons Media Collective, a retail media network that will offer business partners a digital marketing platform and omni channel solutions to reach the extensive customer network. During the quarter, the company continued to benefit from the retail and supply chain operations, merchandising and procurement initiatives that the company had previously laid out. And the company continues to expect to achieve the targeted $1.5 billion in annual gross savings by the end of fiscal year 2022. The company is also continuing to install energy efficiency and refrigeration upgrades and have installed these in over 700 stores through Q3 ’21.

Additionally, the company has declared a cash dividend of $0.12 per share of common stock for the fourth quarter of fiscal 2021. The cash dividend is payable on February 10, 2022, to stockholders of record as of the close of business on January 26, 2022.