SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 or 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: March 3, 2000 Commission file number 1-6187
ALBERTSON'S, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 82-0184434
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(State of Incorporation) (Employer Identification Number)
250 Parkcenter Boulevard, P.O. Box 20, Boise, Idaho 83726
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (208) 395-6200
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Item 5. Other Events.
On March 2, 2000, Albertson's, Inc. issued its press release reporting
preliminary unaudited sales for the fifty-three week year ended February 3,
2000, and fourteen-week quarter ended February 3, 2000, and confirming earnings
guidance, which is attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
Correction is made to the following statement under the heading "Quarterly
Financial Data" on page 39 of the Albertson's, Inc. Consolidated Financial
Statements filed as exhibit 99 to the Current Report on Form 8-K filed on
September 22, 1999 (the September 1999 8-K).
In the September 1999 8-K, Albertson's, Inc. reported that fourth quarter
1998 operating results included a pre-tax merger related stock option charge of
$195.3 million ($0.28 per share, after tax) related to the exercisibility of 6.4
million equivalent limited stock appreciation rights due to the approval by
ASC's stockholders of the Merger Agreement. The after-tax effect of the stock
option charge should have been $0.31 per share.
Exhibit
No. Description
99.1 Press Release dated March 2, 2000
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SIGNATURE
Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, Albertson's, Inc. has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
ALBERTSON'S, INC.
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(Registrant)
Date: March 3, 2000 /S/ A. Craig Olson
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A. Craig Olson
Executive Vice President,
Chief Financial Officer
<PAGE>
Index to Exhibits
Filed with the Current Report
on Form 8-K Dated March 3, 2000
Exhibit No. Description
99.1 Press Release dated March 2, 2000
Exhibit 99.1
FOR IMMEDIATE RELEASE
ALBERTSON'S, INC. REPORTS PRELIMINARY SALES AND CONFIRMS EARNINGS GUIDANCE
Albertson's, Inc. (NYSE:ABS) preliminary unaudited sales for the
fifty-three week year ended February 3, 2000, reached $37.5 billion, an increase
of 4.5% over the fifty-two weeks last year. Total sales for the year increased
5.4% when compared on a fifty-two week basis to the prior year and excluding
sales from divested stores from both years.
Preliminary unaudited sales for the fourteen-week quarter ended February 3,
2000, totaled $9.9 billion, an increase of 5.7% over the thirteen weeks last
year. Total sales increased 4.5% when compared on a thirteen-week basis to the
same quarter last year and excluding sales from divested stores from both
quarters. On a comparable fourteen-week basis, identical store sales increased
2.4% and comparable store sales (which include replacement stores) increased
2.8%.
"We are pleased with our increased sales momentum and the progress we have
made in integrating the operations of American Stores," said Gary Michael,
Chairman and CEO of Albertson's, Inc. "We have restored our tracking and
projection systems and our merger-related synergies, or cost savings, continue
to exceed our original expectations. Consequently, we remain comfortable with
consensus earnings estimates (which exclude merger related costs) of $0.70 per
share for the fourth quarter."
Sales and earnings results for the Company's fourth quarter and fiscal year
ended February 3, 2000, will be released after the New York Stock Exchange
closes on March 14, 2000.
Albertson's, Inc. is one of the largest retail food and drug chains in the
United States. Based in Boise, Idaho, the Company currently operates almost
2,500 retail stores in 37 states across the United States.
This release contains statements that are forward looking. These statements
are made based upon current expectations that are subject to risk and
uncertainty. The Company does not undertake to update forward-looking statements
in this news release to reflect actual results, changes in assumptions or
changes in other factors affecting such forward-looking information. Assumptions
and other information that could cause actual results to differ from those set
forth in the forward-looking information can be found in the Company's filings
with the Securities and Exchange Commission, including the Company's Form 10-Q.
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CONTACT:
Albertson's, Inc., Boise, Idaho
Investor Relations
A. Craig Olson 208/395-6284
Renee Bergquist 208/395-6622
Media Relations 208/395-6392
