Safeway 2001 Annual Report Download - page 9

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7
New Ventures While our primary focus is on
our core business, food and drug retailing, we are actively exploring
a number of potential new business opportunities. Among those cur-
rently in operation is Safeway SELECT Bank. Established
with a leading financial
institution, it combines
the convenience of an online
bank with an in-store presence. Customers
can access a wide range of banking products
and services and pay no fees in connection
with their day-to-day banking. We have
also launched the first phase of our new
online home shopping service. Unlike previous business
models of the Internet grocery concept, ours has several key advantages –
notably, it is store-based using proven technology and the experience of
a major British retailer, coupled with our significant purchasing leverage,
our well-established brand identity and our extensive store system.
NEW VENTURES
■■At year end, Safeway
SELECT Bank operated 118
in-store pavilions in California,
Colorado, Nevada, Arizona,
Oregon and Washington.
■■We launched a new
online grocery shopping and
home delivery service in the
Portland, Oregon area in
December 2001.
■■We participated in
online auctions and utilized
other Web-based technologies
to enhance supply chain
economics.
■■We continued to explore a
wide range of potential revenue
sources from non-traditional
uses of our asset base.
GIVING OUR BEST:
Genuardi’s Acquisition
External Growth
The Genuardi’s acquisition
in 2001 increased our sales
base and expanded our pres-
ence in the Mid-Atlantic
region. Genuardi’s is renowned
for exceptional quality and
superior service.
Safeway SELECT Bank
Financial Services
At Safeway SELECT Bank,
customers not only get no-
fee day-to-day banking, free
unlimited check writing and
a wide variety of financial
products, they also can earn
“Bank Rewards” dollars valid
for free groceries.