News: Safeway Inc (SWY)
4 Dec 2013
NEW YORK, Dec 4 - Activist investor Jana Partners LLC said in a regulatory filing on Wednesday that it reduced its stake in Safeway Inc, saying it was pleased with the steps the grocer has taken to exit the Chicago market and review its business.
- Specialty grocery retailer Fresh Market Inc cut its 2013 earnings forecast for the second time as it battles a weak U.S. consumer spending environment, sending its shares down as much as 16 percent after the bell.
* Cuts 2013 earnings/share forecast to $1.42-$1.47 from $1.50-$1.55
TORONTO - Two big Canadian grocers reported steep declines in quarterly profit on Wednesday in the face of escalating competition from the likes of Wal-Mart Stores Inc and Target Corp , a new entrant to the Canadian market.
(Deletes paragraph that quoted analyst Peter Sklar saying dividend increase traditionally took place in the fourth quarter after Sklar corrected his note on the issue)
NEW YORK, Oct 23 (IFR) - The cost of insuring Safeway Inc's debt against default rose sharply on Wednesday on a report that buyout firms are exploring a deal for all or part of the supermarket chain.
Oct 23 - The following corporate finance-related stories were reported by media:
NEW YORK - A handful of buyout firms, including Cerberus Capital Management LP, are exploring a deal for all or part of supermarket chain Safeway Inc , according to people familiar with the matter, in what could potentially shape up to be one of the largest leveraged buyouts since the financial crisis.
TORONTO - Empire Co Ltd , the operator of Canadian grocery chain Sobeys, said on Tuesday that Canada's competition watchdog approved its acquisition of substantially all of Safeway Inc's assets in Canada.
TORONTO, Oct 22 - Empire Co Ltd, the operator of Canadian grocery chain Sobeys, said on Tuesday that Canada's competition watchdog approved its acquisition of substantially all of Safeway Inc's assets in Canada.
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