InBev names Peacock, Edmond leaders of Anheuser-Busch, following acquisition completion
ST. LOUIS European brewing giant InBev has announced the names of two of its top executives with plans for them to lead the North American Anheuser-Busch team, upon closure of the $52-billion acquisition deal now in the works.
InBev has stated that David Peacock, currently serving as vice president at A-B’s domestic beer arm, will take over as president of A-B. InBev also said that Luiz Fernando Edmond, who currently serves as zone president covering northern Latin America for InBev, will be shifted to zone president of North America, a position that also will cover the A-B business.
InBev has also said that A-B will maintain its North American headquarters in St. Louis and plans for the newly combined company to be dubbed.Anheuser-Busch InBev. Current shareholders of A-B will meet Nov. 12 to vote on the acquisition.
Safeway announces its Q3 earnings for 2008
PLEASANTON, Calif. Safeway today reported a net income total of $199.7 million, or $0.46 per diluted share, for 2008’s third quarter. This total compares to its net income for the same time 2007, $194.6 million, or $0.44 per diluted share.
Safeway said that its total sales were up by 3.9 percent, totaling $10.2 billion for the third quarter 2008, up from last year’s third quarter total of $9.8 billion. The company said that the rise was caused by profits from Safeway’s Lifestyle stores as well as an increase in fuel prices. Same-store sales were up 2.8 percent with fuel (0.5 percent not considering fuel).
“During the third quarter we took action to provide our customers with better everyday values,” chairman, chief executive officer and presiden, Steve Burd, said in a statement. “As we begin the fourth quarter, our sales momentum is building, with identical-store sales (excluding fuel) currently above 1.5 percent, and we are continuing to reduce costs. We continue to believe our diluted earnings per share for 2008 will be in the range of $2.25 to $2.35 for this 53-week year.”
Meijer adds bulk groceries to its list of online shopping items
HOLLAND, Mich. Meijer grocery chain has announced the start of its Grocery By The Case bulk shopping program online.
More than 2,000 dry goods and groceries have been added to the Web site and free delivery is offered for orders over $150, the company has said.
Meijer said it is expanding its bulk offerings to better compete with bulk chain stores, such as Costco and Sam’s Club. It will offer a special discounted delivery charge to elderly customers every other Friday for $3.