Safeway 2007 Annual Report Download - page 9

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C O R P O R A T E C I T I Z E N S H I P
As noted on page 19 of this report, Safeway is an industry
leader in charitable giving and environmental responsibility.
Our cash and in-kind donations in 2007 exceeded
$172 million. The primary beneficiaries of our giving are
organizations that provide assistance in five areas of need:
hunger relief, cancer research and awareness, education,
people with disabilities and disaster assistance.
Our environmental achievements in 2007 included purchasing
87 million kilowatt-hours of renewable energy, recycling
approximately 500,000 tons of materials for reuse, and
converting virtually our entire U.S. company-owned truck
fleet to run on cleaner-burning biodiesel fuel.
In addition, our latest Corporate Governance Quotient,
based on the rating system devised by Institutional
Shareholder Services and applied to more than 8,000
companies worldwide, was higher than 91.5% of S&P
companies and 97.7% of companies in our Food & Staples
Retailing peer group.
O U T L O O K
We are very encouraged about Safeway’s future as we
continue rolling out our highly successful Lifestyle stores
and executing our marketing strategies, which are bolstered
by proprietary consumer insights and tools that guide us
to provide the right products at the right prices. In addition,
our reinvigorated private-label products, unique proprietary
brands and superb perishables should continue to surprise
and delight our customers while growing market share.
Likewise, our proven ability to reduce costs through shrink
control, supply-chain efficiencies, competitive labor
contracts, effective use of labor scheduling and active
management of workers’ compensation expense should
allow us to invest in price and enhance the bottom line.
Safeway has a tradition of continuous innovation. On the
following pages, we highlight some of the innovative ways
we are reinventing the shopping experience for our
customers and giving back to the communities we serve.
In closing, once again I’d like to acknowledge the hard
work and enthusiastic support of our 201,000 employees.
They are the primary source of our past achievements and
the key to our future success. On behalf of the entire
Safeway team, I pledge our renewed commitment to
enhancing customer satisfaction and shareholder value in
2008 and beyond.
Steven A. Burd
Chairman, President and Chief Executive Officer
February 26, 2008
2007 2006
Diluted earnings per share, as reported $ 1 . 9 9 $ 1. 94
Certain tax adjustments —(0.08)
Interest earned on favorable tax
settlement, net of tax —( 0.14)
Diluted earnings per share, as adjusted $ 1 . 9 9 $ 1.72
Percentage increase 15.7%
1 D I L U T E D E A R N I N G S P E R S H A R E H I S T O R Y A D J U S T E D
F O R C E R T A I N T A X I T E M S (U N A U D I T E D )
7
2007 A N N U A L R E P O R T