##### 



Exhibit 99.1
 
 For more information, contact:
 
 
 ALBERTSONS ANNOUNCES 2005 FOURTH
QUARTER AND ANNUAL RESULTS
  FOURTH QUARTER RESULTS




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2005 RESULTS
   2




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www.albertsons.com
   3




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ADDITIONAL INFORMATION
  4




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5




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ALBERTSONS, INC.
 Consolidated Earnings Statements13 Weeks Ended
    
    
    14 Weeks Ended
    
    
    52 Weeks Ended
    
    
    53 Weeks EndedFebruary 2, 2006
    
    
    February 3, 2005
    
    
    February 2, 2006
    
    
    February 3, 2005Sales
    
    $
    10,227
    
    
    
    100.00
    %
    
    $
    11,055
    
    
    
    100.00
    %
    
    $
    40,358
    
    
    
    100.00
    %
    
    $
    39,810
    
    
    
    100.00
    %Cost of sales
    
    
    7,371
    
    
    
    72.08
    
    
    
    7,979
    
    
    
    72.18
    
    
    
    29,038
    
    
    
    71.95
    
    
    
    28,648
    
    
    
    71.96Gross profit
    
    
    2,856
    
    
    
    27.92
    
    
    
    3,076
    
    
    
    27.82
    
    
    
    11,320
    
    
    
    28.05
    
    
    
    11,162
    
    
    
    28.04Selling, general and administrative expenses
    
    
    2,468
    
    
    
    24.13
    
    
    
    2,653
    
    
    
    24.00
    
    
    
    10,082
    
    
    
    24.98
    
    
    
    9,946
    
    
    
    24.98Restructuring charges (credits)
    
    
    
    
    
    
    
    
    
    
    1
    
    
    
    0.01
    
    
    
    
    
    
    
    
    
    
    
    (10
    )
    
    
    (0.02
    )Operating profit
    
    
    388
    
    
    
    3.79
    
    
    
    422
    
    
    
    3.82
    
    
    
    1,238
    
    
    
    3.07
    
    
    
    1,226
    
    
    
    3.08Interest expense, net
    
    
    125
    
    
    
    1.22
    
    
    
    139
    
    
    
    1.26
    
    
    
    529
    
    
    
    1.31
    
    
    
    499
    
    
    
    1.25Other (income) expense, net
    
    
    (1
    )
    
    
    (0.01
    )
    
    
    1
    
    
    
    
    
    
    
    (5
    )
    
    
    (0.01
    )
    
    
    (1
    )
    
    
    Earnings from continuing operations before income taxes
    
    
    264
    
    
    
    2.58
    
    
    
    282
    
    
    
    2.55
    
    
    
    714
    
    
    
    1.77
    
    
    
    728
    
    
    
    1.83Income tax expense
    
    
    100
    
    
    
    0.98
    
    
    
    96
    
    
    
    0.87
    
    
    
    252
    
    
    
    0.62
    
    
    
    254
    
    
    
    0.64Earnings from continuing operations
    
    
    164
    
    
    
    1.61
    
    
    
    186
    
    
    
    1.68
    
    
    
    462
    
    
    
    1.14
    
    
    
    474
    
    
    
    1.19Discontinued operations:Operating earnings (loss)
    
    
    
    
    
    
    
    
    
    
    3
    
    
    
    0.03
    
    
    
    (5
    )
    
    
    (0.01
    )
    
    
    (3
    )
    
    
    (0.01
    )Gain (loss) on disposal
    
    
    (3
    )
    
    
    (0.03
    )
    
    
    10
    
    
    
    0.10
    
    
    
    (21
    )
    
    
    (0.05
    )
    
    
    (45
    )
    
    
    (0.11
    )Income tax (expense) benefit
    
    
    1
    
    
    
    0.01
    
    
    
    (5
    )
    
    
    (0.05
    )
    
    
    10
    
    
    
    0.02
    
    
    
    18
    
    
    
    0.04Earnings (Loss) from discontinued operations
    
    
    (2
    )
    
    
    (0.02
    )
    
    
    8
    
    
    
    0.08
    
    
    
    (16
    )
    
    
    (0.04
    )
    
    
    (30
    )
    
    
    (0.07
    )Net earnings
    
    $
    162
    
    
    
    1.59
    %
    
    $
    194
    
    
    
    1.76
    %
    
    $
    446
    
    
    
    1.11
    %
    
    $
    444
    
    
    
    1.11
    %
 Earnings (Loss) Per Share:BasicContinuing operations
    
    $
    0.44
    
    
    
    

    

    
    $

    0.50
    
    
    
    
    
    
    $

    1.25
    
    
    
    
    
    
    $
    1.28Discontinued operations
    
    
    (0.01
    )
    
    
    
    
    
    
    0.02
    
    
    
    
    
    
    
    (0.04
    )
    
    
    
    
    
    
    (0.08
    )Net earnings
    
    
    0.44
    
    
    
    
    
    
    
    0.53
    
    
    
    
    
    
    
    1.21
    
    
    
    
    
    
    
    1.20DilutedContinuing operations
    
    $
    0.44
    
    
    
    
    
    
    $
    0.50
    
    
    
    
    
    
    $
    1.24
    
    
    
    
    
    
    $

    1.27Discontinued operations
    
    
    (0.01
    )
    
    
    
    
    
    
    0.02
    
    
    
    
    
    
    
    (0.04
    )
    
    
    
    
    
    
    (0.08
    )Net earnings
    
    
    0.43
    
    
    
    
    
    
    
    0.52
    
    
    
    
    
    
    
    1.20
    
    
    
    
    
    
    
    1.19Weighted Average
Common Shares Outstanding:Basic
    
    
    370
    
    
    
    
    
    
    
    369
    
    
    
    
    
    
    
    370
    
    
    
    
    
    
    
    369Diluted
    
    
    373
    
    
    
    
    
    
    
    373
    
    
    
    
    
    
    
    372
    
    
    
    
    
    
    
    372




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ALBERTSONS, INC.
  Consolidated Balance Sheet Data
 February 2, 2006
    
    
    
    February 3, 2005AssetsCurrent Assets:Cash and cash equivalents
    
    $
    406
    
    
    
    $
    273Accounts and notes receivable, net
    
    
    723
    
    
    
    
    675Inventories
    
    
    3,036
    
    
    
    
    3,119Assets held for sale
    
    
    22
    
    
    
    
    43Prepaid and other
    
    
    168
    
    
    
    
    185Total Current Assets
    
    
    4,355
    
    
    
    
    4,295Land, Buildings and Equipment, net
    
    
    9,903
    
    
    
    
    10,472Goodwill
    
    
    2,269
    
    
    
    
    2,284Intangibles, net
    
    
    844
    
    
    
    
    868Other assets
    
    
    500
    
    
    
    
    392Total Assets
    
    $
    17,871
    
    
    
    $
    18,311Liabilities and Stockholders EquityCurrent Liabilities:Accounts payable
    
    $
    2,203
    
    
    
    $
    2,250Salaries and related liabilities
    
    
    743
    
    
    
    
    739Self-insurance
    
    
    276
    
    
    
    
    263Current maturities of long-term debt and
capital lease obligations
    
    
    51
    
    
    
    
    238Other current liabilities
    
    
    607
    
    
    
    
    595Total Current Liabilities
    
    
    3,880
    
    
    
    
    4,085Long-term debt
    
    
    5,422
    
    
    
    
    5,792Capital lease obligations
    
    
    856
    
    
    
    
    857Self-insurance
    
    
    691
    
    
    
    
    632Other long-term liabilities and deferred credits
    
    
    1,315
    
    
    
    
    1,524Stockholders EquityCommon stock
    
    
    370
    
    
    
    
    368Capital in excess of par
    
    
    122
    
    
    
    
    66Retained earnings
    
    
    5,215
    
    
    
    
    4,987Total Stockholders Equity
    
    
    5,707
    
    
    
    
    5,421Total Liabilities and Stockholders Equity
    
    $
    17,871
    
    
    
    $
    18,311Total Common Shares
Outstanding at End of Period
    
    
    370
    
    
    
    
    368
 Condensed Consolidated Cash Flow Data
 52 Weeks Ended
    
    
    
    53 Weeks EndedFebruary 2, 2006
    
    
    
    February 3, 2005Cash Flows From Operating Activities:Net earnings
    
    $
    446
    
    
    
    $
    444Adjustments to reconcile net earnings to net
cash provided by operating activities:Depreciation and amortization
    
    
    1,152
    
    
    
    
    1,101Net deferred income taxes
    
    
    (125
    )
    
    
    
    85Discontinued operations noncash charges
    
    
    23
    
    
    
    
    71Other noncash (credits) charges
    
    
    (63
    )
    
    
    
    6Changes in operating assets and liabilities
    
    
    112
    
    
    
    
    407Net cash provided by operating activities
    
    
    1,545
    
    
    
    
    2,114Cash Flows From Investing Activities:Business acquisitions, net of cash acquired
    
    
    (22
    )
    
    
    
    (2,214
    )Capital expenditures
    
    
    (860
    )
    
    
    
    (1,050
    )Proceeds from disposal of land, buildings,
equipment, and assets held for sale
    
    
    364
    
    
    
    
    232Refundable deposit for tax related liabilities
    
    
    (81
    )
    
    
    
    -Other
    
    
    (5
    )
    
    
    
    (36
    )Net cash used in investing activities
    
    
    (604
    )
    
    
    
    (3,068
    )Cash Flows From Financing Activities:Proceeds from mandatory convertible security
    
    
    
    
    
    
    
    1,150Net commercial paper activity
    
    
    (349
    )
    
    
    
    349Proceeds from stock options exercised
    
    
    26
    
    
    
    
    11Proceeds from long-term borrowings
    
    
    37
    
    
    
    
    -Payments on long-term borrowings
    
    
    (242
    )
    
    
    
    (532
    )Mandatory convertible security financing costs
    
    
    
    
    
    
    
    (33
    )Dividends paid
    
    
    (280
    )
    
    
    
    (279
    )Net cash (used in) provided by financing activities
    
    
    (808
    )
    
    
    
    666Net decrease in cash and cash equivalents
    
    
    133
    
    
    
    
    (288
    )Cash and cash equivalents at beginning of period
    
    
    273
    
    
    
    
    561Cash and cash equivalents at end of period
    
    $
    406
    
    
    
    $
    273




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##### 



52 Weeks
    

53 WeeksFiscal 2005
    
    Fiscal 2004BeforeTaxes
    
    
    AfterTaxes
    
    
    PerDilutedShare
    
    
    BeforeTaxes
    
    
    AfterTaxes
    


    PerDilutedShareEarnings from continuing operations, as reported
    
    $
    714
    
    
    $
    462
    
    
    $
    1.24
    
    
    $
    728
    
    
    $
    474
    
    
    $
    1.27Strategic alternative costs
    
    
    22
    
    
    
    15
    
    
    
    0.04
    
    
    
    
    
    
    
    
    
    
    
    Hurricane costs
    
    
    20
    
    
    
    12
    
    
    
    0.03
    
    
    
    28
    
    
    
    18
    
    
    
    0.05Estimated hurricane earnings benefit1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (6
    )
    
    
    (4
    )
    
    
    (0.01
    )Early payment discounts change
    
    
    38
    
    
    
    23
    
    
    
    0.06
    
    
    
    
    
    
    
    
    
    
    
    Lease accounting change
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8
    
    
    
    5
    
    
    
    0.01Adjusted earnings from continuing operations
    
    $
    794
    
    
    $
    513
    
    
    $
    1.38
    
    
    $
    758
    
    
    $
    493
    
    
    
    1.32
 13 Weeks
    
    

14 WeeksFourth Quarter 2005
    
    
    Fourth Quarter 2004BeforeTaxes
    
    
    AfterTaxes
    
    
    PerDilutedShare
    
    
    BeforeTaxes
    
    
    AfterTaxes
    
    
    PerDilutedShareEarnings from continuing operations, as reported
    
    $
    264
    
    
    $
    164
    
    
    $
    0.44
    
    
    $
    282
    
    
    $
    186
    
    
    $
    0.50Strategic alternative costs
    
    
    16
    
    
    
    12
    
    
    
    0.03
    
    
    
    
    
    
    
    
    
    
    
    Hurricane costs
    
    
    2
    
    
    
    1
    
    
    
    0.00
    
    
    
    4
    
    
    
    3
    
    
    
    0.01Early payment discounts change
    
    
    38
    
    
    
    23
    
    
    
    0.06
    
    
    
    
    
    
    
    
    
    
    
    Lease accounting change
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8
    
    
    
    5
    
    
    
    0.01Adjusted earnings from continuing operations
    
    $
    321
    
    
    $
    200
    
    
    $
    0.54
    
    
    $
    294
    
    
    $
    194
    
    
    $
    0.52
 
  1
    
    The Company believes that the following factors contributed to the absence of measurable earnings benefits from the 2005 hurricanes: significant population migration leading up to
and following the 2005 hurricanes; greater store damage than experienced in 2004; and a slightly longer timeline to re-opening all affected stores than experienced in 2004.