Safeway 2011 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
2011
52 Weeks
2010
52 Weeks
2009
53 Weeks
2008
52 Weeks
2007
Financial Statistics
Identical-store sales increases
(decreases) (1) 4.4% (0.7)% (5.0)% 1.4% 4.1%
Identical-store sales increases
(decreases) without fuel (1) 1.0% (2.0)% (2.5)% 0.8% 3.4%
Gross profit margin 27.03% 28.28% 28.62% 28.38% 28.74%
Operating & administrative
expense as a percentage of
sales (2) 24.43% 25.45% 25.33% 24.17% 24.55%
Operating profit (loss) as a
percentage of sales (3) 2.6% 2.8% (1.5)% 4.2% 4.2%
Cash paid for property additions $ 1,094.7 $ 837.5 $ 851.6 $ 1,595.7 $ 1,768.7
Depreciation expense $ 1,148.8 $ 1,162.4 $ 1,171.2 $ 1,141.1 $ 1,071.2
Total assets (3) $ 15,073.6 $ 15,148.1 $ 14,963.6 $ 17,484.7 $ 17,651.0
Total debt $ 5,410.2 $ 4,836.3 $ 4,901.7 $ 5,499.8 $ 5,655.1
Total equity (3) $ 3,689.1 $ 4,997.7 $ 4,946.4 $ 6,786.2 $ 6,701.8
Other Statistics
Stores opened during the year 25 14 8 20 20
Stores closed during the year 41 45 22 24 38
Total stores at year end 1,678 1,694 1,725 1,739 1,743
Remodels completed (4)
Lifestyle remodels 29 60 82 232 253
Other remodels –7102115
Total remodels completed 29 67 92 253 268
Total retail square footage at year end (in
millions) 79.2 79.2 80.1 80.4 80.3
(1) 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.
(2) Management believes this ratio is relevant because it assists investors in evaluating Safeway’s ability to control costs.
(3) 2009 includes a pretax goodwill impairment charge of $1,974.2 million, ($1,818.2 million, after-tax).
(4) Defined as store remodel projects (other than maintenance) generally requiring expenditures in excess of $0.2 million. Excludes
pharmacy refurbishments.
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