Albertsons: Meaning (information, definition, explanation, facts)

Albertsons (NYSE:ABS) is a grocery store chain that operates under the brands Jewel, Osco, Acme, Savon, Super-Saver Foods, and Max Foods, as well as Albertsons. The company announced April 30, 2004 that it has completed the acquisition of JS USA Holdings Inc., adding the Shaw's and Star Markets brands.

Albertsons was founded by Joe Albertson in 1939 in Boise, Idaho. In 1969, it partnered with Skagg's to create the first combination grocery/drug store. Later, Albertsons acquired Seessel's, Smitty's, Super One Foods, Buttrey Food and Drug, and Bruno's.

An ad in the Idaho Daily Statesman touted Joe Albertson's first store as "Idaho's largest and finest food store." The store was filled with perks that, at the time, were brand new: free parking, a money-back guarantee, even an ice cream shop. The store was located at 17th and State Streets in downtown Boise. While the original store is no more -- a replacement facility stands on the original site. When the chain opened it's 1,000th store, it was located just a few miles from store number one -- at 36th & State in Boise.

Albertsons operates more than 2,500 stores across the country. With the addition of Shaw's, Albertsons will have stores in 37 states and approximately 230,000 associates. It is ranked number four in sales by Supermarket News -- behind Wal-Mart, Kroger and Costco. Only Kroger has more stores.

The company is in the midst of a pitched battle with retail giant Wal-Mart. Wal-Mart's size and scale allows the company to undercut Albertsons in price.

Albertsons is increasingly progressive in the area of technology, recently adding a "check out while you go" system, where shoppers can scan items as they shop, and quickly pay before leaving.

Albertson's also allows (in certain areas) customers to shop from home via the company's website. Pickups can be arranged at the store, or the items may be delivered to the customer's home.

Albertsons has contracts with the United Food and Commercial Workers, the largest grocery union in the United States. In late 2003 and early 2004, Albertsons, along with competitor Ralphs, locked out its workers who were members of the UFCW in Southern California, in sympathy with competitor Vons (owned by Safeway, Inc.), whose UFCW workers were on strike. The issues in contract negotiations included health care benefits and wage structure.