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.
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.
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.'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.
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.
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.
Safeway, Inc., the parent company of The Vons Companies, Inc., announced layoffs which will include 28 workers at the Vons Pavilions headquarters in Arcadia.
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.
British retail giant Tesco considers selling its struggling U.S. grocery market Fresh & Easy Neighborhood Market. The El Segundo-based chain is losing money and Tesco has hired investment bank Greenhill to review options. Fresh & Easy has 200 stores in California, Nevada, and Arizona. There is a store in Arcadia (on Foothill Boulevard).
Vons Market, which operates 328 grocery stores in Southern California, has moved its corporate headquarters from El Monte to Michillinda Avenue, between Sunset Boulevard and Huntington Drive. The 240,000 square foot building, a former May Co. store that closed in January 1989, will house 950 Vons employees.
Ralphs grocery store at 1101 West Huntington Drive. This was at the corner of Huntington Drive and Sunset Boulevard. Brick exterior. Photo by Terry Miller.
Ralphs grocery store at 1101 West Huntington Drive. This was at the corner of Huntington Drive and Sunset Boulevard. Brick exterior. Photo by Terry Miller.
A U.S. District judge overturned convictions for bribery, mail, wire and tax fraud and harboring illegal immigrants, against George Torres, 52, of Arcadia, the former owner of Numero Uno supermarket chain. The judge threw out the more serious convictions for racketeering, conspiracy and solicitation of murder, back in June. Torres has been set free after 2 years in custody.