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 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.
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.
Arcadia-based grocery chain Vons, a division of Safeway Inc., headquartered in Pleasanton, California, is closing its Vons supermarket at 2340 Foothill Boulevard, LaVerne, California. It has been there for 10 years and is underperforming.
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.
George Fasching, shown in a photo, is no longer selling gas at Fasching's Car Wash in Arcadia because he is unwilling to comply with a state mandate, effective April 1, 2009, that requires gas station owners to purchase new equipment to reduce vapor emissions at the pump.
Arcadia gets new power provider Clean Power Alliance. Arcadia has selected lean power as the default for all customers. Lean power provides 36% renewable energy at a 1-2% discount. Southern California Edison will continue to provide billing and customer support.
Getting a permit to install solar panels on homes in the San Gabriel Valley is costly. A Sierra Club report shows that San Gabriel Valley cities charge more than other Southland communities. The average permit cost to install a typical 20-panel system in Southern California is about $493. Arcadia's fee is $283. A chart shows the fees of surrounding cities.
Residential customers of Southern California Edison (SCE) may see increases of an average of 30% or more next year because of soaring fuel prices and costs to upgrade infrastructure.
Arcadia joins Clean Power Alliance of Southern California (formerly Los Angeles Community Choice Energy Authority). The alliance is made up of 31 member jurisdictions in Los Angeles and Ventura Counties that will purchase electricity for sale to their communities. Clean Power Alliance intends to purchase cleaner, more renewable electricity.