Business & Tech
Boise's Albertsons Announces Growth
Pandemic consumers flocked to the grocery store, driving up profits.
BOISE, ID — With many restaurants closed and many of us working from home and having time to fix meals, trips to the grocery store became more frequent, boosting revenue for the grocery giant.
Click here to subscribe to our free breaking news alerts delivered to your inbox and mobile devices. You can also download our free Patch mobile app on Android or iPhone.
Find out what's happening in Boisefor free with the latest updates from Patch.
Boise-based Albertsons saw revenue of $69.7 billion last year according to information released by the company for fiscal year 2020. Sales jumped 16.9% with the company adding 11 million new customers.
Albertsons also saw a 258% increase in digital sales. Even with the increased sales, the company took a $144 million loss in the fourth quarter due to a $449.4 million payment to the company's pension plan.
Find out what's happening in Boisefor free with the latest updates from Patch.
The company announced 2021 growth to be between 6 and 7.5% and a two year growth of between 9.4 to 10.9%.
Albertsons remodeled 409 stores last year, about 17% of its locations.
Stay connected! Like Boise Patch on Facebook and follow us on Twitter.
Have a news tip or suggestion on how I can improve Boise Patch? Maybe you're interested in having your business become one of our latest sponsors? Email any and all inquiries to me at john.braese@patch.com.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.