March 20, 2004 |
Safeway Inc., the No. 3 U.S. grocery chain, said Chief Executive Steven Burd gave up a $181,000 bonus last year as the company endured a 4- 1/2 month strike and saw shares fall 6.2%. Burd's salary last year was unchanged at $1 million and he realized $13 million from exercising options, according to a Securities and Exchange Commission filing.
March 18, 2004 |
Kroger Co. said Wednesday that it would close 15 underperforming Ralphs supermarkets in Southern California in the next two months as it girded for competition with Wal-Mart Stores Inc. Kroger said it would try to transfer the 600 employees to other Ralphs markets and that layoffs were unlikely. The company said the closings were unrelated to the 4 1/2-month supermarket strike and lockout that recently was settled.
September 5, 2002 |
Supermarket chain Vons, a unit of Safeway Inc., said it now offers online grocery ordering and delivery to customers in many parts of Los Angeles and Orange counties. Other chains such as Albertson's Inc., Stater Bros. Markets and Bristol Farms have launched similar programs in the Southland. All these services charge a delivery fee, usually about $10, and prices for goods are generally the same as those in their stores.
September 3, 2003 |
U.S. Bancorp, the eighth-biggest U.S. bank by assets, will open 163 branches in Safeway Inc. stores, including Vons, in the next two years to increase the bank's presence in California and Arizona. The new outlets would boost U.S. Bancorp's in-store branch network by one-third to 446, the bank said. Most of the branches will be in Sacramento, San Diego, San Francisco and Los Angeles. The remainder will be in Phoenix and Tucson. U.S. Bancorp shares rose 22 cents to $24.12 on the NYSE.
April 5, 2007 |
Safeway Inc. rewarded its chief executive with a 2006 pay package valued at $11.5 million for leading the grocer to its highest profit in five years, according to an analysis of a regulatory filing. Steve Burd, Pleasanton, Calif.-based Safeway's CEO for the last 14 years, received $2.64 million in nonequity incentives to supplement a $1.33-million salary and $212,298 in perquisites, according to documents filed with the Securities and Exchange Commission.
October 12, 2007 |
Safeway Inc.'s fiscal third-quarter profit climbed 12% to match analysts' projections, the latest payoff from the grocer's recent recipe of cutting labor costs while spending on store improvements to attract more shoppers. The Pleasanton, Calif.-based company earned $194.6 million, or 44 cents a share, during the three months ended Sept. 8. That compared with $173.5 million, or 39 cents, in the year-earlier quarter. Revenue rose a lower-than-expected 4% to $9.78 billion.