ADVFN - Advanced Financial Network.
HOME» NYSE » S » SWY Stock Price » SWY Stock News

Safeway Share News

 Safeway Inc. Stock Price
SWY Stock Price
 Safeway Inc. Stock Chart
SWY Stock Chart
 Safeway Inc. Stock News
SWY Stock News
 Safeway Inc. Company Information
SWY Company Information
 Safeway Inc. Stock Trades
SWY Stock Trades

Supervalu To Cut 800 Office Jobs By Feb 25 In Turnaround Effort

DOW JONES NEWSWIRES Supervalu Inc. (SVU) plans to eliminate about 800 corporate and regional office jobs by Feb. 25 as the supermarket operator continues its efforts to reduce overall operating costs. The company currently has about 135,000 employees and said the reductions will include both current positions and open jobs that won't be filled. Supervalu, whose brands include Albertsons, Save-A-Lot and Shaw's, has struggled with rising food costs and competition from lower-price rivals such as Kroger Co. (KR) and Safeway Inc. (SWY). Hoping to reverse persistent same-store sales declines, the company has been cutting costs and lowering grocery prices. "These reductions are necessary to help further strengthen and accelerate Supervalu's business turnaround in a very competitive marketplace," said Chief Executive and President Craig Herkert. Supervalu reported last month its fiscal third-quarter loss widened on larger writedowns and weaker sales, causing the company to lower its fiscal 2012 guidance for the second quarter in a row. And later that month, Fitch Ratings downgraded Supervalu's issuer default rating to B, one notch further into junk territory, citing the supermarket operator's continued sales declines, market share losses and pressured margins. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Safeway (SWY)
DateTimeHeadline
07/25/201415:02:08Greenlight Notes Short Positions in Safeway, Lorillard -Reuters
07/13/201406:18:25MARKET SNAPSHOT: Tech, Bank Earnings To Test Economic Recovery
06/16/201409:37:19U.S. Hot Stocks: Hot Stocks to Watch
04/04/201411:12:42Blackstone Reaches $5.4 Billion Deal for Gates Global
03/17/201417:37:48Attorneys General Urge Major Retailers to Stop Selling Tobacco...
03/17/201416:00:51Major Retailers Urged to Stop Selling Tobacco Products
03/17/201415:31:14Attorneys General Urge Major Retailers to Stop Selling Tobacco...
03/17/201413:17:32Correction to Tobacco Products Story
03/17/201410:43:20Attorneys General Urge Major Retailers to Stop Selling Tobacco...
03/07/201416:53:55MARKET SNAPSHOT: Stocks End Mostly Higher; S&P 500 Notches Record
03/07/201415:03:30MARKET SNAPSHOT: U.S. Stocks Mostly Rise; Nasdaq Slips Into Red
03/06/201419:54:36Cerberus Agrees to Buy Safeway for $9 Billion
02/20/201416:54:51MARKET SNAPSHOT: Stocks Close Higher On Markit PMI, Deal Boost
02/20/201412:01:37MARKET SNAPSHOT: Stocks Rise, Shaking Off Weak Philly Fed Data
02/20/201410:45:08MARKET SNAPSHOT: Stocks Waver After Philly Fed Disappoints
02/19/201415:56:12MARKET SNAPSHOT: U.S. Stocks Fall After Fed Minutes
02/19/201415:18:30MARKET SNAPSHOT: U.S. Stocks Move Lower After Fed Minutes
02/19/201413:22:12MARKET SNAPSHOT: U.S. Stocks Abruptly Reverse Amid Nervousness
02/19/201410:53:22MARKET SNAPSHOT: U.S. Stocks Higher On Upbeat Earnings, Deal...
02/17/201408:52:36MARKET SNAPSHOT: Dividend Hikes, Consumer Clues Eyed In Week...

Safeway and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad