Thank you, Sharon. Our productivity initiatives are delivering and there is more to come to help offset inflation and fund our growth. "But we're far away from that, in my opinion.". That's what we are focusing on. Can you just give us a sense or just paint the picture. And that's the foundation, right, for creating value. So we'll talk more about it at the end of Q4, but the ones that you summarized, I absolutely agree with, and those are the puts and takes we're considering. To this end, we have been automating production planning and simplifying tasks in our fresh departments, resulting in better quality, higher in stocks, and more time for customer interactions. We still see -- but there's noise, right? We also, Simeon, are competing with a very broad set of competitors every day in the market where we compete. They traded up to premium wines, and they have stayed with that behavior," he said. But remember, we will carry over into 2022 on top of the 2022 plan. We also gained unit and dollar market share in food and MULO on both a one- and two-year basis. Of shoppers surveyed, 70% said their grocery store spending would stay the same post-pandemic versus pre-pandemic, while 19% said it would increase and 11% said it would decrease, for a 7% net . Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Yes. But in general, what you'll find is that we are paying a higher wage level than the -- of the market. Sankaran also told Cramer that some pandemic-era buying habits have persisted, even as the economy has been reopening from public-health restrictions. And heading into the fourth quarter, over 80% of our households are now able to receive their Drive Up & Go orders in two hours. And then follow-up to that, I mean what percentage of purchases are completed with the loyalty card? So that's how we play it, and there's things we control that we focus down -- focus on pretty hard. And a lot of that capacity should be coming on just about now, right? And finally, we expect our capital expenditures to now be in the range of $1.8 billion to $1.9 billion, slightly lower than our previous range of $1.9 billion to $2 billion due to supply-related constraints. Good morning and thank you for joining us for the Albertsons Companies' Third Quarter 2021 Earnings Conference Call. A Division of NBCUniversal. How broad-based is that? To enable the delivery of 37 million healthy breakfast to those in need, we collected $9 million, thanks to the generosity of our customers and the Thanksgiving and other 100,000 meals were provided to those in need with the help of one of our third-party delivery partners. That's helpful for Albertsons' financial performance, he said. We also earned recognition and transportation as a top green fleet in 2021 from heavy-duty trucking for our 100% zero emissions refrigerated grocery delivery trucks. Albertsons CEO Vivek Sankaran told CNBC on Wednesday that the U.S. consumer has, so far, been able to handle rising inflation. How will the consumer react going forward? The great news for us is that, as Vivek mentioned earlier, the winning model, the work that we're doing on the consolidation of procurement is going extremely well. But as inflation goes up, you don't see the same degree of unit growth, but it's stable. He has worked as Senior VP:Strategy & Dev at PEPSICO INC; SVP GM, South Business Unit Frito Lay at PEPSICO INC; and President/COO at Frito-Lay North America Inc.. But obviously, you're just having a blowout year this year. And I think the fresh portfolio is also playing to our advantage because you're seeing people eating at home, and our fresh is growing faster than the rest of store. This allows store management to spend more time on the sales floor assisting customers, ensuring improved store conditions and interacting with and training employees. During the quarter, we continued to benefit from the retail and supply chain operations, merchandising and procurement initiatives that we have previously laid out. Vivek Sankaran was just 10 months into his tenure as president and CEO of Albertsons Companies when the pandemic hit. So that's how to think about that. Thank you to opposing counsel who just told the judge that my law student was a kind and smart attorney, who the bar will be lucky to have. I mean this is the big question, right? Please go ahead. But as you guys think about your planning, which I'm sure you're doing for next year and the years to come, is your expectation as a CEO that EBITDA should grow just naturally, even if the year was good? It's not zero unmet potential. Co-presented "Separating Children From Their Parents" at the Michigan Statewide Conference on Abuse and Neglect, Plymouth, Michigan. Sankaran provided the MFC update in a rundown of Albertsons' progress in its strategic priorities, which include the acceleration of its digital and omnichannel capabilities. The customer is still strong. Our next question comes from the line of Ken Goldman with JPMorgan. 734.936.9706. Presented "A Revolution of ValuesThree Fundamental Principles that Should Guide Child Welfare Reform" and "Legal Representation as a Prevention Strategy" at the Wyoming Joint Symposium on Children and Youth, Cheyenne. Subscribe Today. A clinical professor of law at the University of Michigan Law School, Sankaran directs both the Child Advocacy Law Clinic and the Child Welfare Appellate Clinic, through which law students represent children and parents in trial and appellate proceedings. But when we all go back into it, we are all more technology enabled. Yes, Michael, we had -- we've dispensed 11 million vaccines to date, probably one of the highest on a per store basis in the -- from a pharmacy standpoint, 3 million in the . Excluding the impact of fuel, gross margin rate increased by approximately 40 basis points, primarily driven by sales leverage, productivity initiatives and improved pharmacy margins related to COVID-19 vaccine, partially offset by investments related to our growth in digital sales and an increase in product and supply chain costs driven by the current inflationary environment. Bill Agee got fed up with his home town and moved away. It sounded like you're expecting inflation to accelerate. Here are further demographic highlights of the leadership team: The Albertsons executive team is 29% female and 71% male. A long-term sustainable performance creates value. So the things that we are doing is doing what we can to control things we control, which is internal, right? I will now turn to our updated outlook. If you can maybe provide color in terms of the monthly trends during the quarter and then any color on quarter-to-date trends as well. DC? He serves on the boards of Catapult Health, Bypass Mobile, Peeractive as well as the Jay Baker Retail Program at Wharton. "Even today, we are selling so many flowers. Assistant (s) Jackie Julien. Prior to that, he served as the company's president and chief operating officer, a position he was named to in 2016. But from a Q4 perspective, we do anticipate revenues being in line with where they were in Q3. While other CEOs were trying to figure out how to shift their teams to remote . We're expecting the quarters to look very similar. ". Two quick questions. You may disconnect your lines at this time. And more recently, with Omicron, I think you're seeing people eating more at home again, and we're all -- so the trends remain very positive from a top line. Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram, Questions, comments, suggestions for the "Mad Money" website? Are there any early learnings that you have? So it's going slightly faster to catch up with it over this year. Please proceed with your question. Sign up for free newsletters and get more CNBC delivered to your inbox. Larry Johnston never cottoned to Boise and eventually, he broke the company up and sold it off. So I think as you look at it as a management team and enhancing shareholder value, how should we think about it, especially because you are sitting on a pretty big chunk of cash on the balance sheet and it's growing? As the CEO & Director of Albertsons Companies, the total compensation of Mr Sankaran at Albertsons Companies is 8,483,335. For example, in loyalty, our new unified mobile app consolidates the customer's entire digital experience into one place where they can shop, download deals, request pharmacy services, and utilize gas and grocery rewards. View all articles by Vivek . They traded up to shellfish. We do expect, as I said earlier, for our vaccinations to continue in our stores, and quite frankly, are doing everything we can to promote it. The second thing that's very promising for us is we gain massive wallet share when people engage with us in omnichannel. Please proceed with your question. So just to add two areas I wanted to hit on quickly. One is I was hoping to get a little more clarity on what you were saying about gross margin in fourth quarter, Vivek. This net worth approximation does not reflect any other assets that Mr. Sankaran may own. And as we told you guys before, it's something we put a lot of energy into, increasing the loyalty base that we have, connecting them more with the pharmacy, and connecting them more with e-commerce, and we are seeing that retention. Spoke at a panel discussion, "Death by a Thousand Cuts: Recent Trends in Family Law," at the NAACP National Convention, Detroit. Sankaran will start his new job April 25th, according to the SEC filing. Share. Our excellent locations near where people live provide us with a competitive advantage. We can talk about the digital marketing platform that we're investing in. Both Miller and Donald will remain on the companys board of directors. Our next question comes from the line of Michael Montani with Evercore ISI. And is it you expect less vaccines? We'll see benefit again in the fourth quarter, but that we're rolling it by category. Sharon, you've talked about investment. Our next question comes from the line of Simeon Gutman with Morgan Stanley. We're up to $149 million. The increase in employee costs was primarily driven by market-driven wage rate increases and incremental labor to support the increase in fresh sales. First, our stores continue to be the foundation of our business and now allow us to serve our customers, both in-store and online. And I think that's creating this challenge. to time in our SEC filings, including on Forms 10-Q, 10-K and 8-K. Any forward-looking statements we make today are only as of today's date, and we undertake no obligation to update or revise any such statements as a result of new information, future events or otherwise. And maybe secondly, right, if you think about -- I don't know what work you've been able to do around wallet share, right, in your -- I don't know if your top decile through the lowest one. Gross margin rate was 28.9% in Q3 2021 compared to 29.3% in Q3 2020 and 28.3% in Q3 2019. Sankaran joined the Boise . In 2009, Sankaran founded the Detroit Center for Family Advocacy, the first organization in the country to provide multidisciplinary legal assistance to families to prevent the unnecessary entry of children into foster care. He joined Giant Eagle as CIO in 2013. Professor Vivek Sankaran, '01, advocates for the rights of children and parents involved in child welfare proceedings. All participants will be in listen-only mode until the Q&A session. Is this happening to you frequently? There are some states where SNAP, I guess, benefits to the consumer. Omnichannel households increased by 4x versus Q3 '19, and sales retention remained strong. Ed, let me provide what we know. So more to come on that, and we'll give you more of an outlook on that in 2022. And as the -- as that increases, we get even more through into it. Here is what I believe will be dramatically different as the world goes back into promotions in the future, and I don't know when that is. We now expect full year ID sales in the range of negative 0.8% to negative 1.2% compared to previous guidance of negative 2.5% to negative 3.5%, representing an updated two-year stacked ID range of 15.7% to 16.1% compared to prior guidance of 13.4% to 14.4%. So -- and we find that once they engage in our loyalty program, you see that. It sounds like you think inflation is going to maybe be as high, if not higher for you guys in the fourth quarter versus 3Q? ", As a result, he said, "we haven't seen the consumer affected yet by that level of inflation. We've put out over $50 million this quarter. Rob, the first thing, our Own Brands penetration, if you look at it, is back to where it used to be pre-pandemic, which we like, right? And we are continuing to promote that in our stores. Albertsons Companies, Inc., through its subsidiaries, engages in the operation of food and drug stores in the United States.