Albertsons Companies NYSE: ACI said shareholders approved five management proposals at its 2026 annual meeting, including the election of 10 directors, the appointment of Deloitte & Touche LLP as its independent auditor and amendments to the company’s certificate of incorporation.
Shareholders also approved, on an advisory basis, compensation paid to the company’s named executive officers for fiscal 2025. The company said the amendment eliminating certain supermajority voting requirements and a separate amendment limiting certain officer liability as permitted under Delaware law also passed.
A shareholder proposal from Oxfam seeking a report on the company’s human-rights policy and human-rights due-diligence practices did not receive a majority of votes cast and failed to pass. Albertsons’ board had recommended shareholders vote against the proposal.
Gina Cummings, vice president of policy and program at Oxfam America, told shareholders that Albertsons faced human-rights-related risks in its operations and supply chain. She cited workplace injury fines, labor disputes, reporting on child labor at milk suppliers and alleged forced labor in seafood supply chains. Cummings also said the company lacked a published human-rights policy and a clearly outlined due-diligence process. The company’s board said its reasons for opposing the proposal were detailed in its proxy statement.
New Operating and Leadership Structure
In a business update following the formal meeting, Chief Executive Officer Susan Morris outlined Albertsons’ strategy to become “the most loved grocer in every community” it serves. Morris said the company operates more than 2,200 retail stores, over 1,700 pharmacies, 405 fuel stations, 22 distribution centers and 19 food and beverage manufacturing plants.
The company also reported approximately 280,000 employees, service to more than 36 million customers per week, and a $16 billion own-brand portfolio that includes O Organics, Open Nature and Signature brands.
Morris highlighted changes to the company’s leadership organization. Michelle Larson expanded her responsibilities as executive vice president and chief merchandising officer to include digital operations. Evan Rainwater serves as chief supply chain officer, while Mike Withers now leads operations across the company’s store network as executive vice president of operations. Allison Pinkham joined as executive vice president and chief human resources officer.
Morris also said President and Chief Financial Officer Sharon McCollam plans to retire. McCollam will remain in her role until a successor is named and then will serve in an advisory capacity through the end of the fiscal year.
Albertsons is also restructuring its operating model under what Morris called the “ACI Edge.” The initiative will consolidate 11 divisions into four regions and centralize center-store merchandising. The four regions will be California, West, South and East.
According to Morris, the changes are intended to speed decision-making, improve product availability and preserve localized execution in fresh food, service and other store-level functions. She said the company aims to combine the benefits of national scale with the local customer connections of its individual store banners.
Fiscal 2025 Results and Capital Returns
Albertsons said it ended fiscal 2025 with $83.2 billion in sales, $3.9 billion in adjusted EBITDA and $2.06 billion in adjusted free cash flow.
The company invested $1.84 billion in capital expenditures during fiscal 2025, including spending to modernize its store fleet, expand artificial intelligence, digital and technology capabilities, and enhance its supply chain. Albertsons remodeled 94 stores and opened nine new locations during the year, Morris said.
The company returned approximately $1.8 billion to shareholders during fiscal 2025, including $323 million in dividends and nearly $1.5 billion in share repurchases. That total included completion of a $750 million accelerated share repurchase program.
Morris said Albertsons increased its fiscal 2026 dividend rate by 13% to $0.68 per share. Its capital-allocation priorities are to invest in the business, maintain and grow the dividend over time, and repurchase shares opportunistically while maintaining a strong balance sheet, she said.
Fiscal 2026 Outlook
For fiscal 2026, Albertsons said it is planning for a softer unit-sales environment as lower-income consumers remain under pressure, grocery-industry unit trends soften and potential supplier cost increases could add affordability pressure.
The company expects identical sales to decline between 0.5% and 1.5%. Excluding an expected 150-basis-point full-year headwind from the Pharmacy IRA, it expects identical sales to range from flat to up 1%.
- Adjusted EBITDA is projected at $3.55 billion to $3.625 billion.
- Adjusted earnings per share are expected to range from $1.75 to $1.85, including approximately $600 million in planned share repurchases.
- The effective income tax rate is expected to be 24% to 25%.
- Capital expenditures are forecast at $1.9 billion to $2 billion.
Morris said the company expects its investments in customer value to pressure near-term earnings but views them as necessary to improve customer engagement, accelerate unit growth and strengthen its longer-term business trajectory. She added that pharmacy trends remain healthy and digital continues to generate outsized growth.
About Albertsons Companies (NYSE:ACI)
Albertsons Companies, Inc NYSE: ACI is one of the largest food and drug retailers in the United States, operating a diversified portfolio of grocery store banners. Founded in 1939 by Joe Albertson in Boise, Idaho, the company has grown through both organic expansion and strategic acquisitions. Its core business activities encompass the sale of fresh produce, meat, bakery items, deli offerings, pharmacy services, and general merchandise. The company's retail operations are complemented by an in-house private-label program, featuring brands such as O Organics, Open Nature, and Lucerne, which cater to a range of customer preferences and price points.
Throughout its history, Albertsons Companies has pursued growth via mergers and partnerships.
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