Safeway 1999 Annual Report Download - page 6

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Alaska’s leading retailer. On the acquisition date, Carrs
operated 49 stores and the state’s largest food warehouse
and freight network, which should significantly enhance
the efficiency of our combined operations. We have
operated our own stores in Alaska since 1960.
In September we acquired Randall’s Food Markets,
Inc., a Texas-based supermarket chain that, at the close
of the transaction, operated 117 stores in the Houston,
Dallas/Fort Worth and Austin areas under the Randalls
and Tom Thumb banners. Like the Dominick’s merger
in 1998, the combination with Randall’s extends our
geographic reach into new operating areas.
Over the past three years, we have completed four
mergers, acquiring almost 600 stores with combined
sales of more than $11 billion. Acquisitions continue to
be a key element of our long-range growth strategy.
Outlook
We are pleased with our operating results in 1999,
particularly the strong sales trend in the fourth quarter
that has continued into the current year. As we roll out
and refine a series of new sales-building initiatives in
the months ahead, and as we continue to analyze acqui-
sition possibilities and other opportunities to grow our
business, we are excited about Safeway’s future.
Success requires a team effort. All of us at Safeway
work hard to exceed our customers’ expectations. In
addition, many of our people are actively involved in
their communities, giving tirelessly of themselves to
improve the quality of life for their families and neigh-
bors. With our employees’ ongoing support and enthusi-
asm, we are confident we will continue “taking care of
business” in 2000 and beyond.
Steven A. Burd
Chairman, President and Chief Executive Officer
February 25, 2000