Safeway announced that it has entered into an agreement to sell its Canadian operations through a sale of the net assets of Canada Safeway Limited to Sobeys, a Canadian food retailer and wholly-owned subsidiary of Empire Company Limited, for $5.7 billion in cash plus the assumption of certain liabilities.
Royal Ahold is quadrupling the size of its share-buyback program amid strong first-quarter 2013 sales and the sale of its majority stake in a supermarket chain, the Netherlands-based supermarket operator said.
The Safeway Foundation and Stand Up To Cancer, a program of the Entertainment Industry Foundation, have teamed up to develop a print, radio and digital public service announcement featuring actress and SU2C Ambassador Marcia Cross. The PSA is designed to increase awareness for the fight against prostate cancer.
Safeway and the Safeway Foundation on Friday announced they raised and donated more than $10.8 million in April for Easter Seals, Special Olympics and a range of other charities that support people with disabilities.
Safeway announced that Robert Edwards, currently the company's president, will succeed Steven Burd as CEO when Burd retires as chairman and CEO on May 14. Edwards, 57, will also join the company's board of directors.
Safeway shares dropped dramatically Thursday morning as the company reported $10 billion in sales for its first quarter 2013 ended March 23, which is essentially flat as compared with the first quarter of 2012.
There may be a new metric to track retail success or failure, according to a Motley Fool article posted last week — employees per thousand square feet. The metric helps draw a correlation between service and sales productivity.