Content about Economic history

April 15, 2014

Safeway on Monday completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings owned by Safeway.

PLEASANTON, Calif. — Safeway on Monday completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings owned by Safeway. After the completion of the distribution, Safeway no longer owns any shares of Class B common stock of Blackhawk.

April 11, 2014

Safeway was selected to receive the 2014 Military Officers Association of America's Distinguished Service Award, which honors individuals or organizations for their strong support of national defense and the uniformed service community, the company announced Thursday.

PLEASANTON, Calif. — Safeway was selected to receive the 2014 Military Officers Association of America's Distinguished Service Award, which honors individuals or organizations for their strong support of national defense and the uniformed service community, the company announced Thursday. The company was recognized by MOAA for its "outstanding support as an employer of Guard and Reserve members and veterans."

April 11, 2014

Safeway on Thursday announced the receipt of a request for additional information and documents from the Federal Trade Commission in connection with the FTC's review of the Safeway/Albertson's merger.

PLEASANTON, Calif. — Safeway on Thursday announced the receipt of a request for additional information and documents from the Federal Trade Commission in connection with the FTC's review of the Safeway/Albertson's merger. 

The second request extends the waiting period imposed by the Hart−Scott−Rodino Antitrust Improvements Act of 1976 until 30 days after Safeway and Albertsons have substantially complied with the second request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. 

 

March 28, 2014

Safeway on Friday announced the expiration of the 21-day "go-shop" period pursuant to the terms of the previously announced definitive merger agreement under which AB Acquisition has agreed to acquire all outstanding shares of Safeway.

PLEASANTON, Calif. — Safeway on Friday announced the expiration of the 21-day "go-shop" period pursuant to the terms of the previously announced definitive merger agreement under which AB Acquisition has agreed to acquire all outstanding shares of Safeway.

March 25, 2014

Safeway on Monday announced it has been named one of the 2014 World's Most Ethical Companies by the Ethisphere Institute.

PLEASANTON, Calif. — Safeway on Monday announced it has been named one of the 2014 World's Most Ethical Companies by the Ethisphere Institute. This is the fourth time and third consecutive year that Safeway has been recognized by Ethisphere for its commitment to maintaining superior business practices. Safeway is the only U.S. large retailer to receive this distinction. 

March 7, 2014

Supervalu on Thursday announced that two of its directors, Mark Neporent and Lenard Tessler, have stepped down from the board of directors effective immediately.

MINNEAPOLIS — Supervalu on Thursday announced that two of its directors, Mark Neporent and Lenard Tessler, have stepped down from the board of directors effective immediately. Neporent and Tessler were both appointed to the board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium, under the terms of the Tender Offer Agreement entered into with Symphony Investors and Cerberus in connection with Supervalu's sale of five banners to an affiliate of Symphony Investors.  

March 6, 2014

Cerberus won the bid for Safeway. Safeway and Albertsons on Thursday announced a definitive agreement under which AB Acquisition will acquire all outstanding shares of Safeway in a deal valued at more than $9.1 billion.

PLEASANTON, Calif. — Cerberus won the bid for Safeway.

Safeway and Albertsons on Thursday announced a definitive agreement under which AB Acquisition will acquire all outstanding shares of Safeway in a deal valued at more than $9.1 billion. The transaction is expected to close in the fourth quarter of this year. 

The companies will operate independently until closing. 

March 6, 2014

Cerberus Capital Management is attempting to lock down a deal to secure Safeway as part of an acquisition that could exceed $9 billion, The Wall Street Journal reported Wednesday.

NEW YORK — Cerberus Capital Management is attempting to lock down a deal to secure Safeway as part of an acquisition that could exceed $9 billion, the Wall Street Journal reported Wednesday

February 27, 2014

Deutsche Bank on Thursday speculated that either Cerberus or Kroger could acquire Safeway.

NEW YORK — Deutsche Bank on Thursday speculated that either Cerberus or Kroger could acquire Safeway. 

The firm noted that divestitures in a Kroger acquisition would exceed those in a Cerberus buyout.  

A Bloomberg report published last week suggested Cerberus was the lead bidder for Safeway's operations. 

February 24, 2014

Cerberus Capital Management is the lead bidder for Safeway, according to a Bloomberg report published Saturday that cited people with knowledge of the matter.

NEW YORK — New Albertsons is on its way to becoming more than 1,300 stores larger. Cerberus Capital Management is the lead bidder for Safeway, according to a Bloomberg report published Saturday that cited people with knowledge of the matter. 

Cerberus is the only firm willing to swallow Safeway whole, the paper reported. 

February 20, 2014

Bloomberg on Thursday lined up the potential suitors in discussion with Safeway on a sale of the grocer, citing people with knowledge of the matter.

NEW YORK — Bloomberg on Thursday lined up the potential suitors in discussion with Safeway on a sale of the grocer, citing people with knowledge of the matter. 

Firms CVC Capital Partners and Leonard Green & Partners are among the the interested parties, as is Cerberus Capital Management. 

KKR & Co. bought Safeway in 1986 for about $4.3 billion, according to data compiled by Bloomberg. The retailer went public in 1990.

February 19, 2014

Safeway on Wednesday afternoon confirmed it is in discussions concerning a possible transaction involving the sale of the company.

PLEASANTON, Calif. — Safeway on Wednesday afternoon confirmed it is in discussions concerning a possible transaction involving the sale of the company. However, the company declined to comment further at this time. "Although the discussions are ongoing, the company has not reached an agreement on a transaction, and there can be no assurance that these discussions will lead to an agreement or a completed transaction," Safeway stated as part of its earnings release. 

January 29, 2014

Global consumer confidence held steady at an index of 94 for three consecutive quarters, ending 2013 one point higher than it started and three points higher than the same time period the previous year, according to consumer confidence findings released by Nielsen.

NEW YORK — Global consumer confidence held steady at an index of 94 for three consecutive quarters, ending 2013 one point higher than it started and three points higher than the same period the previous year, according to consumer confidence findings released Wednesday by Nielsen.

January 8, 2014

InMarket is piloting its iBeacons offering in select Safeway and Giant Eagle stores beginning Tuesday, according to published reports.

SEATTLE — InMarket is piloting its iBeacons offering in select Safeway and Giant Eagle stores beginning Tuesday, according to published reports. 

The small, low-power Bluetooth transmitters work in tandem with iPhones running iOS 7 and is part of inMarket’s Mobile to Mortar program, which will deliver saving incentives to shoppers and increase sales for vendors. The iBeacons will be installed at the entry of each store. When the app detects an iBeacon at the entryway of a store, it will push a coupon or other discount to the customer’s phone.

December 30, 2013

Suitors for the remainder of Safeway's Dominick's stores in Chicago, which are now shuttering their doors, are beginning to come forward, according to a report published Saturday in the Chicago Sun-Times.

CHICAGO — Suitors for the remainder of Safeway's Dominick's stores in Chicago, which are now shuttering their doors, are beginning to come forward, according to a report published Saturday in the Chicago Sun-Times

Whole Foods has recently acquired six Dominick's stores, the Sun-Times reported, citing real estate sources. And Jewel may buy as many as 16 Dominick's locations. 

December 19, 2013

The purchase of as many as 10 Dominick's stores may be under consideration by independent grocery chains affiliated with the Centrella cooperative, Crain's Chicago Business reported Thursday, citing sources close to the deal.

CHICAGO — The purchase of as many as 10 Dominick's stores may be under consideration by independent grocery chains affiliated with the Centrella cooperative, Crain's Chicago Business reported Thursday, citing sources close to the deal. 

December 16, 2013

More Americans now say they are loosening the purse strings in advance of the holiday season, and fewer say they are tightening their belts, according to a recent survey.

NEW YORK — More Americans now say they are loosening the purse strings in advance of the holiday season, and fewer say they are tightening their belts, according to a recent Citi national survey released Monday. Only 35% said they would be spending less than last year, reflecting the lowest level of holiday budget cutbacks since the financial crisis. As many as 63% of Americans plan to spend more (11%) or the same (52%) on holiday shopping this year.

December 13, 2013

Safeway on Friday announced a comprehensive initiative to make its online grocery shopping website more accessible and usable for Safeway shoppers with visual impairments.

PLEASANTON, Calif. — Safeway on Friday announced a comprehensive initiative to make its online grocery shopping web site more accessible and usable for Safeway shoppers with visual impairments. The site enhancements are the result of collaboration between Safeway and several visually impaired customers.  

Safeway has adopted the Web Content Accessibility Guidelines version 2.0 level AA as its accessibility standard and has already made significant enhancements to its online shopping website to meet this standard and will continue to do so over the next year.

December 11, 2013

Safeway on Tuesday evening announced the appointment of Brian Baer to president of the company's Eastern Division.

PLEASANTON, Calif. — Safeway on Tuesday evening announced the appointment of Brian Baer to president of the company's Eastern Division.

"Brian's proven management skills and experience will serve our customer base well in the Eastern Division," stated Kelly Griffith, Safeway EVP retail operations.

December 6, 2013

Safeway on Friday announced that its board of directors met yesterday and declared a regular quarterly cash dividend of $0.20 per share.

PLEASANTON, Calif. — Safeway on Friday announced that its board of directors met yesterday and declared a regular quarterly cash dividend of $0.20 per share. 

The cash dividend will be payable on Jan. 9 to stockholders of record at the close of business on Dec. 19.

Safeway operates 1,406 stores in the United States and had annual sales of $37.5 billion in 2012.

December 2, 2013

Safeway on Monday announced it has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's.

PLEASANTON, Calif. — Safeway on Monday announced it has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's. Roundy's will take possession of the stores during a transition period that will take place over the next two months.

The transaction is subject to customary closing conditions. 

November 21, 2013

Safeway on Thursday announced the launch of its Help Us End Hunger (Every Bag Counts) food drive to help make the holidays brighter for people who rely on the assistance of food banks.

PLEASANTON, Calif. — Safeway on Thursday announced the launch of its Help Us End Hunger (Every Bag Counts) food drive to help make the holidays brighter for people who rely on the assistance of food banks.

The company is joining with customers, Kraft, local food banks and broadcast partners to collect food donations at Safeway stores through Christmas. 

To make the donation process easier, a specially produced Every Bag Counts shopping bag filled with the items food banks need the most will be available for $10 at all Safeway stores. 

November 4, 2013

Safeway on Monday announced that it has completed the sale of the net assets of Canada Safeway to Sobeys, a wholly-owned subsidiary of Empire Company.

PLEASANTON, Calif. — Safeway on Monday announced that it has completed the sale of the net assets of Canada Safeway to Sobeys, a wholly-owned subsidiary of Empire Co.

Proceeds from the transaction of $3.8 billion in cash after taxes and expenses and between $400 and $450 million in U.S. tax benefits related to the exit of the Chicago market will be used to pay down $2 billion of debt, with the majority of the remainder to be used to buy back stock. In addition, some of the proceeds may be used to invest in growth opportunities, Safeway reported.

October 30, 2013

Safeway will take over prescriptions from an Oregon grocery store, according to published reports.

NEW YORK — Safeway will take over prescriptions from an Oregon grocery store, according to published reports.

The Albany, Ore., Democrat-Herald reported that Safeway in Albany, Ore., would take over prescription files from Ray's Food Store in North Albany, starting on Thursday.

The owner of Ray's, C&K Market, said earlier this month that it would stop operating the pharmacy, which will close at 4 p.m. Pacific time Wednesday, and Ray's customers have been notified, the newspaper reported.

 

October 24, 2013

Catalina Health on Thursday announced it will complete installation of all Safeway pharmacies into its retail pharmacy network at the end of November.

ST. PETERSBURG, Fla. — Catalina Health on Thursday announced it will complete installation of all Safeway pharmacies into its retail pharmacy network at the end of November. Safeway will be utilizing Catalina Health pharmacy programs to disseminate information to their customers to encourage prescription medication adherence and compliance and advocate healthy lifestyles.