Safeway 1999 Annual Report Download - page 9

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7
TAKING CARE OF INVESTORS
“I enjoy dealing with our stockholders and try to
deliver the same great service we provide in the stores.”
RASHIDA SUMINSKI, INVESTOR RELATIONS SPECIALIST, SAFEWAY CORPORATE HEADQUARTERS
J
ust as we must continuously win our
customers’ loyalty in the marketplace, we
must also earn our investors’ confidence in
the financial arena.
To improve communications with the
financial community, in July we held a con-
ference for supermarket industry analysts
and institutional investors. During
the conference we reiterated our commit-
ment to increasing sales, reducing costs,
managing capital effectively and pursuing
acquisitions. We also reviewed our
financial performance and discussed
our growth strategy.
To further enhance communications
with investors, we are expanding the
financial content of our web site to
include more useful, timely information
about the company. We also announced
a share repurchase program under
which we bought back $651 million
of an authorized $1 billion of our
common stock. In addition, we recently
completed an odd lot buyback program
to reduce administrative expenses.