Safeway 2000 Annual Report Download - page 9

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7
pound, ounce or other unit of measure. On nutritional labeling as well,
we moved early and voluntarily to provide useful information to consumers.
■■At only 576 square feet in overall size, Mr. Skaggs’ first store was minuscule
compared to our 55,000 square-foot-prototype superstore today. The pro-
gression from small to large stores has been continuous over the years, keep-
ing pace with consumers’ changing needs and interests. Here, too, Safeway
has been a champion of innovation. In the 1930s, for example, our stores
were among the first to have adjacent parking lots. Decades later, we helped
lead the way in recycling, electronic scanning, energy management, comput-
erized inventory control and a host of other operational improvements that
have enabled us to serve our customers better at lower cost. ■■Although the
scope and complexity of our business have changed dramatically since 1926,
our basic operating philosophy remains the same. Central to that philosophy
is a disarmingly simple idea: Take care of our customers, employees and
stockholders, and share with them the success they help make possible. This
principle has enabled Safeway to emerge from humble beginnings to its cur-
rent status as one of North America’s preeminent food and drug retailers.
1988
> Company divests Kansas
City, Little Rock and
Houston Divisions and parts
of Richmond Division.
> Safeway sells Southern
California Division to
The Vons Companies, Inc.,
receiving a 30% interest
in Vons along with cash
proceeds.
1990
> Safeway becomes a
publicly traded company
again, selling 46 million
shares in IPO.
1993
> Steve Burd, a longtime
consultant to Safeway,
is named CEO and begins
implementing a new
growth strategy.
1997
> Safeway and Vons merge,
with Safeway acquiring
the Vons common shares
it did not already own.
1998
> Safeway common stock
is added to S&P 500 Index.
> Company acquires
Dominick’s Supermarkets,
Inc.
1999
> Safeway acquires
Carr-Gottstein Foods Co.
> Company acquires
Randall’s Food Markets,
Inc.
2000
> Safeway announces
acquisition of Genuardi’s
Family Markets, Inc.
> Company joins 10 other
leading international
retailers as a founding
member of the WorldWide
Retail Exchange.