Safeway 2007 Annual Report Download - page 42

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SAFEWAY INC. AND SUBSIDIARIES
Item 6. Selected Financial Data (continued)
(Dollars in millions, except
per-share amounts)
52 Weeks
2007 (1)
52 Weeks
2006 (1)
52 Weeks
2005 (1)
52 Weeks
2004
53 Weeks
2003
Financial Statistics
Comparable-store sales
increases (decreases) (3) 4.4% 4.4% 5.9% 0.9% (2.4%)
Identical-store sales increases
(decreases) (3) 4.1% 4.1% 5.8% 0.3% (2.8%)
Identical-store sales increases
(decreases) without fuel (3) 3.4% 3.3% 4.3% (1.3%) (4.5%)
Gross profit margin 28.74% 28.82% 28.93% 29.58% 30.02%
Operating & administrative
expense as a percentage of
sales (4) 24.55% 24.84% 25.77% 26.30% 26.37%
Operating profit as a
percentage of sales 4.2% 4.0% 3.2% 3.3% 1.6%
Cash capital expenditures $ 1,768.7 $ 1,674.2 $ 1,383.5 $ 1,212.5 $ 935.8
Depreciation & amortization 1,071.2 991.4 932.7 894.6 863.6
Total assets 17,651.0 16,273.8 15,756.9 15,377.4 15,096.7
Total debt 5,655.1 5,868.1 6,358.6 6,763.4 7,822.3
Total stockholders’ equity 6,701.8 5,666.9 4,919.7 4,306.9 3,644.3
Other Statistics
Stores opened during the year 20 17 21 33 40
Stores closed during the year 38 31 48 48 31
Total stores at year end 1,743 1,761 1,775 1,802 1,817
Remodels completed (5)
Lifestyle remodels 253 276 293 92 19
Other remodels 15 8222356
Total remodels completed 268 284 315 115 75
Total retail square footage at
year end (in millions) 80.3 80.8 81.0 82.1 82.6
(1) 2007, 2006 and 2005 include stock-based compensation expense of $48.4 million ($0.07 per diluted share), $51.2 million ($0.07
per diluted share) and $59.7 million ($0.08 per diluted share), respectively. For additional information, see the caption “Stock-Based
Employee Compensation” in Note A and the caption “Additional Stock Plan Information” in Note G to the consolidated financial
statements set forth in Part II, Item 8 of this report.
(2) No common stock dividends were declared prior to the second quarter of 2005.
(3) Defined as stores operating the same period in both the current year and the previous year. Comparable stores include replacement
stores while identical stores do not. 2005 sales increase includes an estimated 130-basis-point improvement in comparable-store
sales and an estimated 140-basis-point improvement in identical-store sales due to the impact of the Southern California strike
which ended in the first quarter of 2004. 2004 sales increase includes an estimated reduction of 60 basis points due to the impact
of this strike. 2003 sales decrease includes the estimated 240-basis-point impact of the Southern California strike.
(4) Management believes this ratio is relevant because it assists investors in evaluating Safeway’s ability to control costs.
(5) Defined as store remodel projects (other than maintenance) generally requiring expenditures in excess of $0.2 million. Excludes
acquisitions.
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