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.
March 2, 2007 |
Of all those who've lauded Gov. Arnold Schwarzenegger's plan for universal health coverage -- Democratic lawmakers, administration factotums, think-tank policy wonks and assorted others -- none has stood out quite like Steve Burd, the chairman and chief executive of Safeway Inc.
February 23, 2007 |
Safeway Inc.'s fourth-quarter profit surged 77% to cap the grocer's best performance in five years, a comeback driven by contentious cost-cutting and a recent makeover that has infused more elegance into its stores. Although the results released Thursday exceeded analyst expectations, the showing still wasn't enough to satisfy investors who were apparently disappointed by Safeway's slowing sales growth and conservative outlook for this year. Safeway shares fell by more than 3%.
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.