Albertsons’ same-store sales surge 26.5% on grocery delivery demand

(Reuters) – U.S. grocer Albertsons Cos Inc on Monday reported a 26.5% rise in same-store sales in its first quarter as a publicly listed company, driven by demand for home deliveries of groceries during the COVID-19 pandemic.

Net sales and other revenue rose to $22.75 billion for the quarter ended June 20, from $18.74 billion a year earlier.

Albertsons’ net income rose to $586.2 million, or $1 per share, in the first quarter, from $49 million, or 8 cents per share, a year earlier.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)