Safeway 2000 Annual Report Download - page 6

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4
Since becoming a corporate sponsor of Easter
Seals in 1985, the company and its employees have
raised almost $65 million to help people with dis-
abilities lead more productive, independent lives.
At Safeway, we believe integrating our values
with our work is good business as well as good
corporate citizenship.
OUTLOOK
Looking ahead, we are encouraged by several posi-
tive developments:
■■The increasing proficiency of our store-level
execution — from friendly service and fast
checkout to appealing displays and good in-stock
condition — which we believe gives us a significant
competitive advantage. Of further benefit, the
Genuardi’s acquisition should add approximately
$1 billion in annual sales going forward.
■■The continuing expansion of our gross margin,
largely the result of improved buying practices, bet-
ter shrink control and growing consumer accep-
tance of our award-winning private label brands.
■■The exceptional productivity of our capital
spending program. Our new stores are achieving
profitability faster and accounting for a significantly
larger share of overall earnings growth. We intend
to invest greater amounts of capital at higher levels
of return.
As we look back on 2000 — and over the
preceding 74 years of Safeway’s history — we are
gratified by our achievements. They reflect the
dedication and hard work of our employees,
who take pride in executing our priorities and
outperforming the competition. With their
ongoing support, we look for continued progress
in 2001 and beyond.
Steven A. Burd
Chairman, President and Chief Executive Officer
February 22, 2001