Albertsons Companies, Inc. released its second quarter fiscal 2024 results, announcing an increase in digital sales of 24%. The growth is attributed to the company's investments in a Customers for Life strategy, which was created to drive digital sales and pharmacy operations. 

Net sales and other revenue were $18.6 billion during the 12 weeks ended on Sept. 7, 2024, compared to $18.3 billion during the same time the previous year. The increase was driven by a 2.5% increase in identical sales, with strong growth in pharmacy sales driving the identical sales increase.

The gross margin rate was unchanged, but selling and administrative expenses increased to 25.8% of net sales and other revenue during the second quarter of fiscal 2024 compared to 25.1% during the second quarter of fiscal 2023.

Net income decreased to $145.5 million, or $0.25 per share, during the second quarter of fiscal 2024, compared to $266.9 million, or $0.46 per share, during the second quarter of fiscal 2023.