April 27, 2007 |
Safeway Inc.'s first-quarter profit rose 22% with the nation's second-largest grocer off to its fastest start in six years, but management said Thursday that it was too early to raise earnings projections for the rest of 2007. The Pleasanton, Calif.-based company made $174.4 million, or 39 cents a share, during the three months that ended March 24, compared with $142.9 million, or 32 cents, a year earlier.
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.
December 13, 2006 |
Safeway Inc. said Tuesday that plans including organic baby food and massive growth in its relatively unknown Blackhawk gift card unit should help increase long-term earnings per share by 12% to 15% and perhaps top Wall Street's expectations in 2007. The No. 3 U.S. grocer, which met with analysts and investors, also said it planned to spend $1.7 billion to open about 25 stores and remodel about 275 others next year. Shares of Safeway closed up 71 cents, or 2.2%, at $33.
October 13, 2006 |
Safeway Inc.'s effort to lure shoppers from upscale rivals such as Whole Foods Market appears to be paying dividends at the checkout counter. The Pleasanton, Calif.-based parent of the Vons and Pavilions grocery chains said Thursday that fiscal third-quarter profit jumped 42% as it continued to roll out stores based on its so-called lifestyle format, which features high-end meat and produce as well as design flourishes such as subdued lighting and earth-tone color schemes.
July 21, 2006 |
Vons parent Safeway Inc. beat analysts' earnings expectations for the second quarter and raised its outlook for the remainder of the year, providing the strongest indication yet that the nation's third-largest grocer has finally recovered from years of labor strife and sales erosion. The Pleasanton, Calif.-based company said Thursday that it made $246.2 million, or 55 cents a share, in the three months ended June 17.
July 11, 2006 |
Safeway Inc. was dismissed Monday from an antitrust suit claiming that the company and two of its competitors used a mutual-aid agreement to lessen the effect of the supermarket labor dispute in Southern California that ended more than two years ago. Safeway's Vons unit, which operates some of the Southern California stores that were involved in the 4 1/2 -month dispute, is still a defendant in the lawsuit brought by California Atty. Gen. Bill Lockyer. U.S.
April 28, 2006 |
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.
December 15, 2005 |
Vons parent Safeway Inc. said Wednesday that profit might rise as much as 15% next year as the grocery company benefited from remodeled stores. Earnings will probably climb to $1.55 to $1.65 a share, Pleasanton, Calif.-based Safeway said in a statement. The company said comparable-store sales would increase about 3% in 2006, exceeding its forecast gain of as much as 2.8% this year. Safeway, the third-largest U.S.
December 1, 2005 |
A U.S. appeals court ruled Wednesday that a financial mutual-aid pact among the three grocery chains involved in the Southern and Central California labor dispute last year could be challenged on antitrust grounds, a spokesman for state Atty. Gen. Bill Lockyer said. Lockyer filed a lawsuit alleging that the agreement -- under which the chains shared nearly $150 million to help one another during the strike and lockout -- violated U.S. antitrust laws.