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.
City of Arcadia receives over $1.5 million in annual revenue from Santa Anita Park, according to a report from Keyser Marston Associates, which was commissioned for the city's Economic Development Division. Over the next five years, the racetrack is estimated to generate $7.5 million in sales tax, pari-mutuel revenue and property tax. According to the report submitted in the fourth quarter of 2019, Santa Anita Park is responsible for 1,160 jobs annually.
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.
Sriracha lovers feel the heat as shortage persists. Huy Fong Foods, Inc. reports no relief in sight because of drought in Mexico. The hot chili sauce with the rooster logo is experiencing a shortage of red jalapenos peppers. This week the Arcadia branch of 99 Ranch Mareket had the 17-ounce bottle on sale for $5.98, down from $7.99. Huy Fong Foods is located in Irwindale.
Food critic Merrill Shindler writes about comfort food and mentions two in Arcadia: Din Tai Fung (dumplings) at Westfield Santa Anita mall and Moffett's Family Restaurant, which serves chicken pies.