September 26, 1997 |
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.
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.
October 24, 2013 |
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.
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.