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.
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.
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.
Safeway, Inc., the parent company of The Vons Companies, Inc., announced layoffs which will include 28 workers at the Vons Pavilions headquarters in Arcadia.
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.
The union for the Arcadia Police Department and the Arcadia City Council have reached an agreement. The contract gives officers a 24.4% increase in salaries and benefits over the next 4 years. The department is still down by 14 officers.
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.
City administrators and negotiators for the Arcadia Police Department have not yet reached a contract agreement. Officers want an immediate 10% raise for the first year and 4% increases the second and third years. City council has offered salaries that would make Arcadia police the second or third highest paid in cities surveyed.
Safeway shares rose 10% but analysts question the future. Arcadia-based Vons/Pavilions, which is owned by Safeway, faces a tough food environment and the many problems confronting the economy.
Unemployment rates fell significantly last month throughout Los Angeles County, the Inland Empire, and California. Arcadia's unemployment is 5.8% for September, 2012.
The Board of Education of the Arcadia Unified School District has approved a one year contract with the teachers union that includes a 5 percent pay raise.
Racing returns to Santa Anita Park and another tragedy strikes as horse named Arms Runner fell on the dirt track crossover and had to be euthanized. This was the 23rd horse death since December 23. Trumpeter Jay Cohen was back after three months out with Bell's Palsy.
Grocery workers and community organizers protest outside Vons corporate offices in Arcadia, to push for better health care benefits in contract negotiations.
Enrollment in Arcadia schools, for the 8th school month declined compared to the same month last year. Enrollment overall, slipped from 7,553 to 7,419.