Retail giant Albertsons reported sales and profit gains in the second quarter of 2018.
Sales and other revenue rose $192.4 million, or 1.4 percent, to $14 billion for the quarter, and gross profit margins increased to 27.2 percent, up from 27 percent in the second quarter of 2017.
The chain also reported positive identical sales of 1 percent, adjusted EBITDA growth of 13.1 percent and e-commerce sales gains of 113 percent.
"We are pleased with our second quarter results as identical sales grew for the third consecutive quarter and Adjusted EBITDA grew over 13% in the quarter compared to last year," says Jim Donald, Albertsons’ CEO. "We are energized and enthusiastic about our company and our ability to generate free cash flow and deliver our balance sheet. The team continues to innovate through our digital engagement with customers in both the four-wall and no-wall environment, through our continued expansion of natural and organic Own Brands offerings and through the automation of our distribution centers which we believe will deliver strong returns going forward."