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BUSINESS
March 26, 1987
The El Monte-based grocery company, which was converted to private ownership in a highly leveraged buyout last year, said in a filing with the SEC that the loss resulted from high interest costs and the lingering effects of a strike in late 1985. The filing was made in anticipation of the company's merger with Allied Supermarkets, a Detroit company. That deal, which will result in Vons' going public again, will produce indebtedness of about $567 million, the company said.
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BUSINESS
May 10, 2000 | Melinda Fulmer
An Orange County Superior Court jury awarded Lynne Rayburn, a female manager for Vons Cos. in Orange County, $5.2 million in punitive and compensatory damages for her sexual-discrimination claim against the company. Rayburn, who has been employed by Vons since 1971, was demoted in 1996 from her position as a district manager for several store departments to general merchandise manager for a single store.
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BUSINESS
September 3, 1999 | MELINDA FULMER, TIMES STAFF WRITER
Southern California's top three supermarket chains did not conspire to fix or raise the price of eggs, a jury in San Diego found Thursday. The 9-3 verdict in favor of Ralphs Grocery Co., Vons Cos. and Lucky Stores Inc., ended a six-week trial in San Diego County Superior Court in which consumers claimed the chains monitored one another's prices and conspired to keep them artificially high.
BUSINESS
November 14, 1996 | Times Staff and Wire Reports
Arcadia-based Vons Cos. made no official response to Safeway Inc.'s $1.7-billion merger offer, letting a two-week deadline pass and prompting speculation that Vons may be seeking a better offer. . . .
NEWS
January 2, 1987 | Associated Press
Allied Supermarkets Inc. and Vons Cos. Inc. said today they agreed to merge the companies and sell Allied's holdings in Michigan in transactions valued at more than $700 million. The combined companies will be headquartered in El Monte, Calif., Allied and Vons said.
BUSINESS
May 26, 1989
Vons to Open New Markets: Vons Cos. will open as many as 16 new supermarkets in Southern California by the end of next year, Chairman and Chief Executive Roger Stangeland said. He told shareholders at Vons annual meeting in Pasadena that most of the new stores would open in urban areas. Vons is based in El Monte. Stangeland also said the conversion of 143 Safeways to the Vons format should be completed by the end of June.
BUSINESS
May 30, 1986
Roger E. Stangeland, chairman of Vons Cos. (formerly HMI Holdings), said his firm will acquire the 10-store, Pasadena-based Pantry supermarket chain from the Dallas-based firm for undisclosed terms. The stores are located in the San Gabriel Valley and parts of Orange County. Closing is expected within 30 days. Pantry Stores will operate as a separate division of El Monte-based Vons and will retain the Pantry name.
BUSINESS
February 28, 1995 | Times Staff and Wire Reports
Vons Earnings Drop: The Arcadia-based company announced a year-end net income of $26.6 million, compared to $31.6 million the previous year. The results include restructuring charges of $33 million and $56.9 million in 1994 and 1993, respectively. The decline in income before one-time charges in 1994 reflects the impact of Vons Cos.'
BUSINESS
November 14, 1996 | Times Staff and Wire Reports
Arcadia-based Vons Cos. made no official response to Safeway Inc.'s $1.7-billion merger offer, letting a two-week deadline pass and prompting speculation that Vons may be seeking a better offer. . . .
BUSINESS
November 12, 1996 | Times Staff and Wire Reports
Los Angeles-based Vons Cos. is expected to agree soon to merge with Safeway Inc., creating the nation's second-largest supermarket chain, although some analysts still believe a higher bid is possible. "The offer might be improved slightly, but it would surprise me if Vons rejected Safeway's bid and the deal got hostile," one analyst said. Oakland-based Safeway already owns a third of Vons' stock, and the two firms share directors. Safeway has offered to issue 1.
BUSINESS
November 1, 1996 | GEORGE WHITE, TIMES STAFF WRITER
Vons Cos. on Thursday reported a 59% jump in third-quarter profit, a surprisingly strong showing that analysts said validates Safeway Inc.'s unsolicited takeover bid announced the day before. The sharp profit jump--the latest sign of resurgence at the Arcadia-based company--came as supermarket analysts predicted that Vons will eventually agree to the buyout.
BUSINESS
July 24, 1996 | TOM PETRUNO
In a stock market starving for good earnings news, Vons Cos. served up a blockbuster report on Tuesday. The Southland supermarket chain said it earned $22.7 million, or 51 cents a share in the second quarter, up 57% from $14.5 million, or 33 cents a year earlier. Sales rose 11% to $1.26 billion. The quarter's results were far above analysts' consensus estimate of 42 cents a share, according to earnings-tracker Zacks Investment Research. Wall Street responded by pushing Vons shares up $1.
BUSINESS
April 28, 1995 | Times Staff And Wire Reports
Vons Earnings Up 17%: The Arcadia-based supermarket chain posted net income of $14 million, or 32 cents a share, in the first quarter, up from $9 million, or 21 cents a share, a year earlier. The year-ago quarter included a charge of $3 million related to the Northridge earthquake. Revenue remained unchanged at $1.14 billion, although Vons Cos. had 21 fewer stores in the quarter than it did a year ago.
BUSINESS
February 20, 1995 | Times Staff Reports
Vons to Report Earnings: Vons Cos. will disclose today how price reductions and job cuts have affected its bottom line when it releases the financial report for its fourth quarter and fiscal year. The Arcadia-based supermarket chain said it reduced prices on 12,000 items during the first half of 1994 in a bid to boost sagging sales. The company has also eliminated 730 administrative and support positions to reduce operating costs. For the nine months ended Oct.
BUSINESS
February 20, 1995 | Times Staff Reports
Vons to Report Earnings: Vons Cos. will disclose today how price reductions and job cuts have affected its bottom line when it releases the financial report for its fourth quarter and fiscal year. The Arcadia-based supermarket chain said it reduced prices on 12,000 items during the first half of 1994 in a bid to boost sagging sales. The company has also eliminated 730 administrative and support positions to reduce operating costs. For the nine months ended Oct.
BUSINESS
January 21, 1995 | GEORGE WHITE, TIMES STAFF WRITER
Abandoning its stake in warehouse-style retailing, Vons Cos. said Friday it will close all eight of its discount EXPO stores and expand its more upscale Pavilions chain in a bid to boost profits. The EXPO stores--in Victorville, Cudahy, Huntington Park, Fontana, Colton, El Monte, Montebello and Pomona--are set to close Sunday. The company said it will convert most of the EXPO sites to Vons stores.
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