Albertsons Swings to Loss on $774 Million Opioid Settlement

The grocer said the settlement resolves ‘substantially all’ opioid-related claims from state and local governments.

Shoppers at an Albertson's grocery store in Cheyenne, Wyo. on Nov. 23, 2024. David Zalubowski/AP Photo

Albertsons has agreed to pay $774 million to settle opioid-related claims, a move the grocery giant said pushed its fourth-quarter results into the red.

The Boise, Idaho-based company on April 13 reported a net loss of $480.8 million for the quarter, compared with net income of $171.8 million a year earlier. The loss was largely driven by a $774 million pretax charge related to the settlement, or about $600 million after taxes.