Content about Economic history

April 30, 2013
Safeway names CEO

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.

April 25, 2013
Safeway Q1 profit up

Safeway Inc. said it earned $118.9 million, in the first quarter ended March 23, up from $72.9 million a year earlier, helped by tax benefits.

March 15, 2013
Safeway names new EVP retail ops

Safeway Inc. said that Bruce Everette, 61, is retiring as EVP retail operations after a 44-year career at Safeway.

February 27, 2013
J.C. Penney Q4 loss worse than expected; same-store sales fall 32%

There were no signs of relief for J.C. Penney Co. in the fourth quarter as the company reported a wider-than-expected net loss of $552 million, compared with a loss of $87 million in the year-ago period.

February 4, 2013
Safeway names former Starbucks finance chief as CFO

Safeway Inc. announced that it has named Peter J. Bocian as EVP and CFO, effective Feb. 19.

January 29, 2013
Report: Supervalu sets rate on $2.4B loan for Cerberus sale

Bloomberg reported Tuesday that Supervalu Inc. has set the rate it will pay on $2.4 billion of loans to fund the sale of five supermarket chains to a Cerberus Capital Management LP-led investor group.

January 23, 2013
Safeway rises on speculation of buyout interest

Shares of Safeway Inc. shares rose as much as 9% on Wednesday on rumors of increased buyout interest for its Canada operations by Canadian grocer Metro Inc. and Loblaw Companies Ltd.

January 10, 2013
Supervalu in deal with private-investor group led by Cerberus

Supervalu Inc. announced that it has reached a deal to sell its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies to a private equity group in a transaction valued at $3.3 billion.

January 3, 2013
Burd resigns as Safeway chairman, CEO

The hunt is on for a new chief executive at Safeway following the resignation of longtime chairman and CEO Steve Burd.

November 9, 2012
Safeway to hire at least 1,000 military veterans in 2013

Safeway Inc. announced it will expand its support of America's military veterans by hiring at least 1,000 military veterans in 2013 to add to the 1,300 hired to date in 2012.

October 11, 2012
Safeway Q3 net up, helped by sales of Genuardi’s stores

Safeway Inc. posted a lower profit from continuing operations for the third quarter on Thursday, but its net profit rose to $157 million from $130.2 last year, helped by the sale of some of its Genuardi's stores.

October 2, 2012
Safeway extends social responsibility program

Pleasanton, Calif. -- Grocer Safeway Inc. said Tuesday it has extended its corporate social responsibility commitment with the introduction of a new program it calls Heart of Safeway Pledge, which encourages consumers and communities to be more conservative and socially responsible.

September 5, 2012
Safeway to take Blackhawk unit public

Safeway Inc. announced that it plans to take its Blackhawk Network Holdings Inc. gift card and payment services unit public.

September 4, 2012
Gordmans names former Safeway exec to HR post

Midwestern department store retailer Gordmans said that it has named Roger Glenn as senior VP human resources.

July 19, 2012
Safeway profit slips in Q2; on track to open 10 Lifestyle stores in 2012

Safeway Inc. reported that profit for the second quarter dropped to $121.7 million from $146 million in the same period last year.

April 26, 2012
Safeway profits soar in Q1; 10 Lifestyle stores on tap in 2012

Safeway Inc. reported that net income for the first quarter rose to $81.6 million, from $25.1 million in the year-earlier period.

April 25, 2012
‘No Easy Deals’: High hopes, lack of space can make retail deals difficult

One of the biggest storylines in retail over the past few months has been the legitimately good news that retailers are finally back in the hunt for space.

March 15, 2012
Dollar General appoints executive VP store operations

A former Safeway executive has joined Dollar General as its executive VP store operations.

February 23, 2012
Safeway profit down 6%

Safeway Inc. posted a drop in quarterly net income amid higher commodity costs.

October 4, 2011
Claire's Stores names head of European business

Claire's Stores, Inc. said Tuesday that it has named Beatrice Lafon President of the European Division, effective immediately.

September 27, 2011
Focus on: Retail Finance

Lending to retailers is once again on the rise, as capital flows back into the market and retailers that stayed afloat during the recession look to strengthen their competitive positions. During the economic downturn, the more nimble and savvy retailers cut costs, reduced inventory levels, renegotiated leases and closed underperforming stores. 


July 21, 2011
Safeway profit up in Q2, on track to open 26 new stores

Safeway reported Thursday that net income for the second quarter rose to $145.8 million from $141.3 million in the year-ago period, helped by rising prices and gas sales.

June 7, 2011
Safeway inks new $1.5 billion revolving credit agreement

Safeway said Tuesday it has signed a new $1.5 billion revolving credit agreement that replaces a $1.6 billion facility.

February 24, 2011
Target's profit up 11%

Target Corp. reported Thursday that net income for the quarter ended Jan. 29 rose 11% to $1.04 billion, helped by improved revenues and fewer write-offs of bad credit-card debt.

February 8, 2011
Consumer credit increases for third straight month

A report released Tuesday by the Federal Reserve said that U.S. consumer borrowing rose in December for a third consecutive month, led by the first increase in credit-card charges in more than two years as holiday sales improved.

© 2013