April 14, 2004 |
Safeway Inc.'s board of directors is recommending that shareholders vote against proposals that seek to separate the posts of chairman and chief executive held by Steven Burd, a government filing said Tuesday. The board of Pleasanton, Calif.
July 25, 2003 |
Supermarket giant Safeway Inc. said Thursday that its fiscal second-quarter profit fell 48% partly because of restructuring expenses and write-downs related to its troubled Dominick's chain in the Midwest. Net income in the quarter ended June 14 dropped to $161 million, or 36 cents a share, from $309.3 million, or 63 cents, a year earlier. The latest earnings fell below analysts' consensus estimate of 47 cents a share. Sales at the Pleasanton, Calif.
April 16, 2003 |
Supermarket giant Safeway Inc. on Tuesday warned of a lower-than-expected profit in its fiscal first quarter, a result of slumping sales, lower margins and higher expenses. The Pleasanton, Calif.-based company, which operates about 1,700 stores including Vons and Pavilions in Southern California, blamed its declining profit on the high cost of streamlining its marketing efforts and continued soft sales.
April 6, 2004 |
A group of disgruntled Safeway Inc. investors said they met with a majority of the company's stockholders Monday, hoping to turn up the heat on the slumping supermarket giant and force a change in command later this spring. About 55% of Safeway's outstanding shares were represented at an hourlong meeting held in New York, with 93 representatives either showing up in person or participating by telephone, said New York State Comptroller Alan Hevesi, one of the meeting's leaders.
February 1, 2004
Safeway Inc. execs get millions while grocery workers get the shaft ("Safeway Rewards 11 Top Execs," Jan. 26). Chief Executive Steven Burd should be ashamed, but I don't think he and his fellow executives have any feelings. After all, they've cashed in their stock and made a bundle. Now the company can fall apart. Grocery companies and grocery workers have lost too much already, more than they can ever make up. But Burd and his cohorts are raking it right into their pockets, while the employees could possibly lose their pensions, health plans and any hope they have of enjoying a decent life.
September 9, 2004 |
Safeway Inc. Chief Executive Steven Burd said Wednesday that its new labor contract in Southern California should lower the pay gap by one-third between it and non-union rivals such as Wal-Mart Stores Inc., helping to free up capital to expand and remodel Safeway's stores.
April 7, 2004 |
The Oregon Public Employees Retirement System joined the campaign to oust from the board of Safeway Inc. Chairman Steven Burd and two directors, bolstering an effort launched by four state pension funds in March. The five funds, which hold 7.5 million company shares, are protesting a 60% decline in Safeway's stock price in the last five years, directors' ties to buyout firm Kohlberg Kravis Roberts & Co. and their business links to the No. 3 U.S. supermarket chain.
January 31, 2011
Your Jan. 3 story "Is It Your Boss' Business?" contains a misrepresentation about Safeway's experience controlling healthcare costs. Here are the facts straight from the source. Safeway's "all in" healthcare costs (for employees and the company) are the same today as they were five years ago, which is 33% lower than the national average increase in healthcare costs. During this period, Safeway reversed the national trend of rising obesity within our workforce and reduced the weight of that same group year-over-year.
September 27, 2002 |
Lower prices for meat and food staples, as well as consumers forsaking fancier labels for cheaper brands, caused profit at Safeway Inc. to slide 9% in its fiscal third quarter, the company said Thursday. The nation's third-largest supermarket chain, which operates under the Vons name in Southern California, reported profit of $281.3 million, or 60 cents a share, compared with $309.2 million, or 60 cents, a year earlier. Sales rose 1.2% to $8.1 billion for the period ended Sept. 7.
May 4, 2005 |
Safeway Inc.'s first-quarter profit more than tripled, but its shares fell almost 5% as it warned Wall Street of a weaker-than-expected second quarter. The Pleasanton, Calif.-based owner of Vons and Pavilions stores said its net income surged to $131.3 million, or 29 cents a share, for the period ended March 26, up from $43.1 million, or 10 cents, a year earlier when it was struggling with a supermarket strike in Southern California.