- Albertsons Cos., reported comparable store sales declined 0.4% in its fourth quarter, according to Supermarket News. The Boise, ID-based company filed the information with federal securities in preparation for its IPO.
The retailer saw pro forma sales of $59.7 billion, a 1.6% growth year over year.
Perishable products represented nearly 40.9% of total sales in fiscal 2016, an increase of 0.6% from the prior year.
With an anticipated IPO, Albertsons net loss of $131 million in its last fiscal year isn’t great news for the company. The sales could be a springboard, however, for its rumored merger with Sprouts.
Analysts see a deal between the two retailers as a smart way to keep up with some of the growing competition —especially retailers like Wal-Mart, Amazon and Dollar General, which are pulling market share away.
The more recent rumor that Albertsons may be in the market to purchase Whole Foods is also still buzzing, although the signature natural and organic retailer has also seen sales drop in recent months. Some analysts say this deal is less likely, but it's apparent that Albertsons is planning for something big.
However, the last high profile deal to which Albertsons was linked — a takeover of Price Chopper earlier this year — didn't end up going through. With a long-pending potential IPO, it's unknown whether Albertsons will concentrate on improving from within.
Regardless of whether the company takes over any natural foods grocer, shoppers are bound to see something new in stores under the Albertsons banner. In its filing, Albertsons said it foresees reaching nearly $1.4 billion in capital expenditures this year — or about 2.3% of sales. The company anticipates it will complete approximately 150 upgrade and remodel projects, and open 15 new stores this year.