Safeway 1998 Annual Report Download - page 9

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96 97 98
ock split two-for-one in January.
ned definitive agreement to
chase shares of The Vons
mpanies, Inc. that Safeway
not already own.
cycled more than 300 million
unds of corrugated cardboard,
addition to large amounts of
stic, glass, aluminum, batteries
d tires.
ntical-store sales increased
1%.
A expense margin declined
fourth consecutive year,
22.48% of sales.
erating cash flow increased
7.18% of sales, marking
st time it exceeded 7% on
annual basis in Safeway’s
-year history.
pital expenditures rose to
20 million.
Completed Vons acquisition.
Began construction of new
762,000 sq. ft. distribution center
in Maryland.
Cumulative fundraising total for
Easter Seals, since becoming a
corporate sponsor in 1985,
exceeded $50 million.
Contributed approximately
$40 million worth of food and
non-food products to food
banks in the U.S. and Canada.
Recorded positive identical-store
sales for fifth year in a row.
O&A expense as percentage
of sales declined 35 basis points
on a pro forma basis (to reflect
acquisition of Vons), continuing
a five-year trend.
Operating cash flow margin
improved to 7.70% of sales.
Capital spending increased
to $829 million.
Stock split two-for-one in Februar y.
Opened new distribution center
in Maryland.
Signed definitive agreement to
acquire Carr-Gottstein Foods Co.
Acquired Dominick’s
Supermarkets, Inc.
Added to S&P 500 Index.
Identical-store sales
increased 3.7%.
O&A expense margin declined
28 basis points to 22.56%
of sales.
Operating cash flow as percentage
of sales increased to 8.75%.
Capital expenditures exceeded
$1 billion.