Advertisement
YOU ARE HERE: LAT HomeCollectionsSafeway Inc
IN THE NEWS

Safeway Inc

FEATURED ARTICLES
BUSINESS
March 6, 2014 | By Tiffany Hsu
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.
ARTICLES BY DATE
BUSINESS
April 20, 2014 | By Marc Lifsher
The job : Bill Dombrowski is president of the California Retailers Assn., a trade group based in Sacramento that includes most of the country's largest store chains, including 7-Eleven Inc., Safeway Inc., Macy's Inc., Wal-Mart Stores Inc. and Home Depot Inc. For the last 20 years, he's crafted political and legislative strategies for the association, whose members generate more than $570 billion in annual sales and employ nearly 2.8 million people....
Advertisement
BUSINESS
April 28, 2006 | From the Associated Press
Safeway Inc.'s first-quarter profit rose 9%, continuing the grocer's recent gains from cost cutting that alienated many employees and from store improvements that are reeling in more shoppers. The Pleasanton, Calif.-based company said it earned $142.9 million, or 32 cents a share, for the three months ended March 25. That compared with net income of $131.3 million, or 29 cents, a year earlier. Revenue for the latest period totaled $8.89 billion, a 3% increase.
BUSINESS
March 17, 2014 | By Ricardo Lopez
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.
BUSINESS
September 26, 1997 | (Bloomberg News)
Safeway Inc.'s third-quarter earnings rose 42%, partly on increased sales from its purchase of Los Angeles-based Vons Cos. earlier this year. The food and drug retailer's profit from operations rose to $150 million, or 60 cents a share, from net income of $105.9 million, or 44 cents, a year earlier. The most recent quarter's results exclude a charge for the early retirement of debt.
BUSINESS
January 10, 1997 | Times Staff and Wire Reports
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.
BUSINESS
October 21, 1998 | Bloomberg News
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.
BUSINESS
October 1, 1999 | Bloomberg News
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.
BUSINESS
July 29, 1999 | Melinda Fulmer
Safeway Inc., under pressure from Wall Street to continue growing, said it will spend $1.4 billion to open as many as 75 new stores and remodel 250 others next year. The announcement is part of the No. 3 U.S. supermarket company's plan to boost earnings 15% over the next five years. That target does not include additional earnings from the planned acquisition of Houston-based Randall's Food Markets, announced last week.
BUSINESS
April 25, 2013 | By Tiffany Hsu
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%.
BUSINESS
March 6, 2014 | By Tiffany Hsu
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.
BUSINESS
October 24, 2013 | By Shan Li
Safeway Inc. shares have climbed for two straight days on speculation of a buyout offer just weeks after the grocery giant deflected another potential takeover. Buyout rumors erupted this week on reports that private equity firm Cerberus Capital Management was involved in discussions to acquire some or all of Safeway, which also operates the Vons and Pavilions chains. Cerberus currently owns a supermarket business that operates Albertsons and Shaw's. Investors responded by snapping up Safeway's stock, which rose nearly 10% this week to close at $36.06 on Thursday.
BUSINESS
April 25, 2013 | By Tiffany Hsu
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%.
BUSINESS
April 28, 2006 | From the Associated Press
Safeway Inc.'s first-quarter profit rose 9%, continuing the grocer's recent gains from cost cutting that alienated many employees and from store improvements that are reeling in more shoppers. The Pleasanton, Calif.-based company said it earned $142.9 million, or 32 cents a share, for the three months ended March 25. That compared with net income of $131.3 million, or 29 cents, a year earlier. Revenue for the latest period totaled $8.89 billion, a 3% increase.
BUSINESS
October 1, 1999 | Bloomberg News
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.
BUSINESS
July 29, 1999 | Melinda Fulmer
Safeway Inc., under pressure from Wall Street to continue growing, said it will spend $1.4 billion to open as many as 75 new stores and remodel 250 others next year. The announcement is part of the No. 3 U.S. supermarket company's plan to boost earnings 15% over the next five years. That target does not include additional earnings from the planned acquisition of Houston-based Randall's Food Markets, announced last week.
BUSINESS
October 24, 2013 | By Shan Li
Safeway Inc. shares have climbed for two straight days on speculation of a buyout offer just weeks after the grocery giant deflected another potential takeover. Buyout rumors erupted this week on reports that private equity firm Cerberus Capital Management was involved in discussions to acquire some or all of Safeway, which also operates the Vons and Pavilions chains. Cerberus currently owns a supermarket business that operates Albertsons and Shaw's. Investors responded by snapping up Safeway's stock, which rose nearly 10% this week to close at $36.06 on Thursday.
BUSINESS
March 17, 2014 | By Ricardo Lopez
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.
BUSINESS
October 21, 1998 | Bloomberg News
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.
BUSINESS
September 26, 1997 | (Bloomberg News)
Safeway Inc.'s third-quarter earnings rose 42%, partly on increased sales from its purchase of Los Angeles-based Vons Cos. earlier this year. The food and drug retailer's profit from operations rose to $150 million, or 60 cents a share, from net income of $105.9 million, or 44 cents, a year earlier. The most recent quarter's results exclude a charge for the early retirement of debt.
Los Angeles Times Articles
|