Safeway 2009 Annual Report Download - page 39

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SAFEWAY INC. AND SUBSIDIARIES
Item 6. Selected Financial Data (continued)
(Dollars in millions, except
per-share amounts)
52 Weeks
2009
53 Weeks
2008
52 Weeks
2007
52 Weeks
2006
52 Weeks
2005
Financial Statistics
Comparable-store sales
(decreases) increases (2) (4.9)% 1.5% 4.4% 4.4% 5.9%
Identical-store sales (decreases)
increases (2) (5.0)% 1.4% 4.1% 4.1% 5.8%
Identical-store sales increases
(decreases) without fuel (2) (2.5)% 0.8% 3.4% 3.3% 4.3%
Gross profit margin 28.62% 28.38% 28.74% 28.82% 28.93%
Operating & administrative
expense as a percentage of
sales (3) 25.33% 24.17% 24.55% 24.84% 25.77%
Operating (loss) profit as a
percentage of sales (4) (1.5)% 4.2% 4.2% 4.0% 3.2%
Cash paid for property additions $ 851.6 $ 1,595.7 $ 1,768.7 $ 1,674.2 $ 1,383.5
Depreciation expense $ 1,171.2 $ 1,141.1 $ 1,071.2 $ 991.4 $ 932.7
Total assets (4) $ 14,963.6 $ 17,484.7 $ 17,651.0 $ 16,273.8 $ 15,756.9
Total debt $ 4,901.7 $ 5,499.8 $ 5,655.1 $ 5,868.1 $ 6,358.6
Total stockholders’ equity (4) $ 4,946.4 $ 6,786.2 $ 6,701.8 $ 5,666.9 $ 4,919.7
Other Statistics
Stores opened during the year 820 20 17 21
Stores closed during the year (5) 22 24 38 31 48
Total stores at year end 1,725 1,739 1,743 1,761 1,775
Remodels completed (6)
Lifestyle remodels 82 232 253 276 293
Other remodels 10 21 15 8 22
Total remodels completed 92 253 268 284 315
Total retail square footage at year end (in
millions) 80.1 80.4 80.3 80.8 81.0
(1) No common stock dividends were declared prior to the second quarter of 2005.
(2) Defined as stores operating the same period in both the current year and the previous year. 2008 is based on the same 53-week
period in both years. 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.
(3) Management believes this ratio is relevant because it assists investors in evaluating Safeway’s ability to control costs.
(4) 2009 includes a pretax goodwill impairment charge of $1,974.2 million.
(5) Included 14 Dominick’s store closures in 2007 and 26 Randall’s store closures in 2005. Such store closures were part of a program
to improve profitability in those divisions. We do not plan to significantly change total retail square footage or store count in the
foreseeable future.
(6) Defined as store remodel projects (other than maintenance) generally requiring expenditures in excess of $0.2 million. Excludes
acquisitions.
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