Shares of Safeway Inc. fell 4.5 percent after the Pleasanton-based parent company of Arcadia-based Vons/Pavilions said it expects second-quarter earnings will be below Wall Street estimates.
Steve Burd, Safeway chairman and CEO, told analysts that parent company of Arcadia-based Vons/Pavilions expects to continue rebounding from the 5-month labor strike that ended March 2004. Safeway reversed losses with a $202.7 million fourth-quarter profit in 2004.
Safeway Inc., parent company of Arcadia-based Vons/Pavilions, is changing operations to comply with a new law that calls for a 25 percent reduction in California's carbon emissions by the year 2020.
Safeway Inc.'s profit slid 4% in the second quarter as the nation's number 3 supermarket chain continued to battle lingering effects from last winter's polarizing labor strikes.
Last winter's 4 1/2 month strike had a devastating impact on Safeway Inc., parent company of Vons/Pavilion headquartered in Arcadia. First quarter profits fell 73.5 % to $43.1 million from $162.6 million during the same quarter for the prior year.
Safeway, Inc., the parent company of The Vons Companies, Inc., announced layoffs which will include 28 workers at the Vons Pavilions headquarters in Arcadia.
A class action lawsuit is allegedly underway against Safeway Inc. The claim is that a store manager at one of their locations was peeping at women in the restroom. Carpenters Local 409 also claim Vons has been negligent in paying standard wages to carpenters.
Residents in much of the San Gabriel Valley can now shop for groceries online from Arcadia based Vons Company. Vons.com offers the same products as found in the stores at the same price, but charges $9.95 for delivery.
Arcadia had a job growth of 3 percent from 1991 to 1999, according to a report from the San Gabriel Council of Governments. Arcadia job growth netted out at 652.
Arcadia-based Myricom, Inc. which develops and sells high-speed networking components, is one of the nation's 500 fastest growing privately held companies, according to INC. magazine.
The Westfield Group will acquire 15 department stores which are owned by Federated Department Stores, Inc., including stores in Arcadia and West Covina. Robinsons-May in Arcadia and Macy's in West Covina will become property of Westfield and converted for other uses.
Sushi restaurant owner James Wei, 42, was shot dead by a robber who can be seen in surveillance videotape. The restaurant named Osaka Ya is in the Pavilions Shopping Center. Police are seeking the public's help in identifying the gunman.