January 10, 1997 |
Oakland-based Safeway Inc. more than doubled the number of shares it will buy back from Kohlberg Kravis Roberts & Co. to 32 million from 15 million as part of its plan to buy Vons Cos. The shares will be bought for $43 each immediately after the Vons acquisition has been completed, the company said. Raising the stock buyback will limit the increase of Safeway shares outstanding after the acquisition to about 9 million, and will help its per-share earnings, the company said.
October 21, 1998 |
Safeway Inc. filed with the Securities and Exchange Commission to sell as much as $1.6 billion of debt securities, saying it may use the money to pay for pending acquisitions. The Pleasanton-based supermarket company agreed last week to buy Dominick's Supermarkets Inc. for about $1.8 billion in cash and assumed debt. Safeway also is purchasing Carr-Gottstein Foods Co. for $330 million in cash and assumed debt.
October 1, 1999 |
Shares of Safeway Inc. tumbled after the firm disappointed investors by matching Wall Street earnings estimates for its fiscal third quarter. Pleasanton, Calif.-based Safeway, the nation's second-largest supermarket chain, said its profit rose 15% in the latest quarter to $223.4 million, or 44 cents a share. The results matched the average estimate of analysts surveyed by First Call Corp. but they were less than estimates of 46 cents published on the StreetIQ Web site, http://www.streetiq.com.
April 25, 2013 |
Safeway Inc. stock slid nearly 20% in morning trading Thursday as the Northern California supermarket giant - facing competition from dollar stores and Wal-Mart - reported flat revenue in the first quarter. The Pleasanton company said revenue for the period ended March 23 dipped slightly to $9.99 billion from $10 billion a year earlier - a dent that Safeway attributed to lower fuel sales and the sale of its Genuardi's stores. But same-store sales - a gauge that strips out volatility by only considering stores open at least a year and excludes the impact of fuel - rose 1.5%.
March 6, 2014 |
Albertsons parent Cerberus Capital Management is setting its sights on the grocery throne currently occupied by Kroger, buying up rival Safeway Inc. in a deal valued at more than $9 billion. Through its AB Acquisition arm, Cerberus said Safeway shareholders will receive $40 a share, including $32.50 a share in cash. Board members of Safeway, which is based in Pleasanton in Northern California, unanimously approved the transaction. The company runs the Vons and Pavilions chains in Southern California.
March 17, 2014 |
Twenty-eight attorneys general from 24 states, three U.S. territories and Washington, D.C. are pressuring five retailers, including Walgreen Co. and Wal-Mart Stores Inc., to follow the move by CVS Caremark Corp. and end sales of tobacco. CVS Caremark in early February announced it would stop selling cigarettes and other tobacco products. The pharmacy and retail chain, which has increased its business providing medical care through clinics, said "the sale of tobacco products is inconsistent" with its purpose. Health advocates cheered the move and said it would probably spur other retailers to do the same. The effort was spearheaded by Eric T. Schneiderman and Michael DeWine, attorneys general of New York and Ohio, respectively.