Key Developments: Safeway Inc (SWY.N)

SWY.N on New York Stock Exchange

34.86USD
31 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Whole Foods Market Inc acquires seven dominick's leases from Safeway Inc
Monday, 3 Feb 2014 04:05pm EST 

Whole Foods Market Inc:Says the acquisition of leases from Safeway Inc. for seven locations formerly operated as Dominick's stores.Says terms of the agreement were not disclosed.  Full Article

Safeway Inc declares quarterly dividend
Friday, 6 Dec 2013 09:00am EST 

Safeway Inc:Declares a regular quarterly cash dividend of $0.20 per share.Says the cash dividend will be payable on Jan. 9, 2014 to stockholders of record at the close of business on Dec. 19.  Full Article

Roundy's Inc announces strategic acquisition of 11 Dominick's stores from Safeway Inc
Monday, 2 Dec 2013 04:00pm EST 

Roundy's Inc:Says it has signed a definitive agreement to acquire 11 Dominick's stores from Safeway Inc. in a $36 million cash and lease assumption transaction.Says the company expects to close the transaction in the second half of December, 2013.  Full Article

Safeway Inc Completes Sale of Canadian Operations to Sobeys
Monday, 4 Nov 2013 11:24am EST 

Safeway Inc announced that it has completed the sale of the net assets of Canada Safeway ULC (formerly Canada Safeway Limited) to Sobeys Inc., a wholly-owned subsidiary of Empire Company Limited, in accordance with the asset purchase agreement announced on June 12, 2013 and the consent agreement with the Competition Bureau announced on October 22, 2013. Proceeds from the transaction of CAD5.8 billion in cash (approximately CAD4.0 billion after taxes and expenses) and $400-$450 million in U.S. tax benefits related to the exit of the Chicago market will be used to pay down $2.0 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.  Full Article

Safeway Inc Increases Stock Repurchase Authorization By $2 Billion
Friday, 18 Oct 2013 09:25am EDT 

Safeway Inc. announced that its Board of Directors increased the authorized level of the Company's stock repurchase program by $2.0 billion. Through the end of the third quarter of 2013, Safeway had approximately $0.8 billion remaining under its previously authorized stock repurchase program. Safeway's stock repurchase authorization does not have an expiration date, and the timing of repurchases will depend on market conditions. Stock repurchases may be effected from time to time through open market purchases or pursuant to a Rule 10b5-1 plan. The stock repurchase program may be accelerated, suspended, delayed or discontinued at any time.  Full Article

Safeway Inc Announces Sale Of Four Dominick's Stores
Thursday, 10 Oct 2013 06:30pm EDT 

Safeway Inc announced, as part of its plan to exit the Chicago market, it has sold four of its Dominick's stores in the greater Chicago area to New Albertsons, Inc., which operates Jewel-Osco grocery stores. The four stores are: 1340 S. Canal Street, Chicago, IL; 550 N. Clybourn Avenue, Chicago, IL; 14200 S. Bell Road (at 143rd), Homer Glen, IL; and 1340 Patriot Boulevard, Glenview, IL. During a short transition period, the stores will continue to operate under the Dominick's banner until Jewel-Osco can complete their conversion to Jewel-Osco stores. Dominick's will be working with Jewel-Osco and the unions to ease the transition for store employees, and to facilitate continued employment for as many of them as possible. Safeway has decided to exit the Chicago market and focus its efforts in other operating areas where its business is stronger.  Full Article

Safeway Inc Lowers FY 2013 EPS Guidance
Thursday, 10 Oct 2013 04:15pm EDT 

Safeway Inc announced that for fiscal 2013, it expects adjusted diluted EPS of $0.93 to $1.00, compared to previous guidance of $1.02 to $1.12 and $0.99 in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.09 for fiscal 2013.  Full Article

Safeway Inc To Exit Chicago Market
Thursday, 10 Oct 2013 04:05pm EDT 

Safeway Inc announced that it intends to exit the Chicago market, where it operates 72 Dominick's stores, by early 2014. This will result in a cash tax benefit of $400 million to $450 million which will be available in the short-term to partly offset the cash tax expense on the sale of the net assets of Canada Safeway Limited (CSL). We expect to use the cash tax benefit and any other cash proceeds from the disposal of Dominick's properties to buy back stock and to invest in growth opportunities.  Full Article

Safeway Inc Recalls Several Varieties of Angel Food Cake Due To Undeclared Soy and Milk Allergens
Thursday, 26 Sep 2013 08:50pm EDT 

Safeway Inc announced that it is voluntarily recalling six Angel Food Cake products because they contain the undeclared allergens soy and milk. People who have an allergy or severe sensitivity to soy or milk run the risk of a serious or life- threatening allergic reaction if they consume these products. The following recalled products with the indicated Sell By Dates are found in the Bakery department only: Angel Food Cake (UPC# 2113010510); Holiday Decorated Angel Food Cake Angel Food Cups 4 Count; Cake Angel Food Loaf; Angel Food Cake Loaf 2 CT; and Angel Food Cake Fruit Topped. The Sell By Dates is September 1, 2013to October 1, 2013.  Full Article

Safeway Inc Declares Quarterly Dividend
Friday, 23 Aug 2013 02:27pm EDT 

Safeway Inc announced that Board of Directors declared a regular quarterly cash dividend of $0.20 per share. The cash dividend will be payable on October 10, 2013 to stockholders of record at the close of business on September 19, 2013.  Full Article

UPDATE 1-Sobeys-owner Empire posts better-than-expected profit

Sept 10 - Empire Co Ltd, the operator of Canadian grocery chain Sobeys Inc, reported a better-than-expected quarterly profit, helped by its recently acquired Safeway Canada.

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