Albertsons Companies, Inc.

Welcome to the Albertsons Company's fourth quarter and fiscal year and 2024 earnings conference call. Thank you for standing by. All participants will be in listen-only mode until the Q&A session. This call is being recorded. I would like to hand the call over to Melissa Plaisant, Senior Vice President, Investor Relations, Treasury, and Risk Management. Please go ahead.

Good morning, and thank you for joining us for the Albertsons Company's fourth quarter and fiscal year-end 2024 earnings conference call. With me today from the company are Vivek Shankaran, our CEO, Susan Morris, our COO and CEO-elect, and Sharon McCollum, our president and CFO. Today, Vivek will make a few parting comments on his retirement, and then Susan will update you on our strategic priorities and our progress and path forward against them. Then Sharon will provide the details related to our fourth quarter 2024 financial results and our 2025 financial outlook before handing it back over to Susan for some closing remarks. After management comments, we will conduct a Q&A session. I'd like to remind you that management may make statements during this call that are or could include forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not limited to historical facts but contain information about future operating or financial performance. Forward-looking statements are based on our current expectations and assumptions and involve risks and uncertainties that could cause actual results or events to be materially different from those anticipated. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements are and will be contained from time to time in our SEC filings, including on Forms 10Q, 10K, and 8K. 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. Please keep in mind that included in the financial statements and management's prepared marks are certain non-GAAP measures, and the historical financial information includes a reconciliation of net income to adjusted net income and adjusted EBITDA. And with that, I'll hand the call over to Vivek.

Thanks, Melissa. Good morning, everyone, and thank you for joining us today. First, let me say a few words about my upcoming retirement and Susan's succession to the role of CEO. It has been an honor to serve as the Albertson CEO and work alongside the best people in the industry. My tenure has spanned the COVID-19 pandemic, our initial public offering, and our reemergence as a standalone company following our 2022 review of strategic alternatives. What I'm most proud of is that throughout this journey, we have stayed true to our customers, invested in strengthening our business and advancing our customers for life strategy. This strategy has firmly positioned the company for its next chapter of growth and value creation for our shareholders. Within the few months since the termination of the merger, our mojo is back. We are executing once again like we used to. and we have proof points and therefore more conviction to say that our strategy is right and working. Thank you for your support through all of it. For those of you who don't already know Susan, let me introduce you. Susan is a homegrown talent, starting her career at Albertsons nearly 40 years ago at a store in the Denver market. During her tenure, He has taken on roles of increasing responsibility, including store operations, supply chain, and merchandising. He's been the steward of our retail operations for my six years here. He has become one of the most influential leaders across the industry. He has extensive knowledge of all facets of the industry and our company, a strong track record of driving operational excellence, and most importantly, a passion for serving our customers, our associates, and our communities. She has been a top partner with me since the day I arrived and an integral part of developing and leading our customers for life strategy. I'm delighted she is taking the reins and cannot wait to see the next great chapters of our company under her leadership. Susan, it's all yours.