Safeway 2012 Annual Report Download - page 16

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SAFEWAY INC. AND SUBSIDIARIES
4
FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K for Safeway Inc. (“Safeway,” the “Company,” “we” or “our”) contains certain
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. The Company also provides forward-looking statements in other
materials which are released to the public, as well as oral forward-looking statements. Forward-looking
statements contain information about our future operating or financial performance. Forward-looking
statements are based on our current expectations and involve risks and uncertainties, which may be beyond
our control, as well as assumptions. If assumptions prove to be incorrect or if known or unknown risks and
uncertainties materialize into actual events or circumstances, actual results could differ materially from those
included in or contemplated or implied by these statements. Forward-looking statements do not strictly relate
to historic or current facts. Forward-looking statements are indicated by words or phrases such as
“continuing,” “ongoing,” “expects,” “estimates,” “anticipates,” “believes,” “guidance” and similar words or
phrases and the negative of such words or phrases.
This Annual Report on Form 10-K includes forward-looking statements relating to, among other things:
changes to the total closed store reserve; uses of cash; ability to borrow under commercial paper program
and/or bank credit facilities; sufficiency of liquidity; repayment of borrowings and debt reduction; interest
expense; indemnification obligations; dividend payments on common stock; cash capital expenditures;
outcomes of legal proceedings; the effect of new accounting standards; compliance with laws and regulations;
pension plan expense and contributions; obligations and contributions under benefit plans; the rate of return
on pension assets; amounts to be recognized as a component of net periodic benefit cost; results of shrink
programs; results and the timing of the results of the arbitration related to the Advanced Pricing Agreement;
unrecognized tax benefits; amount of indebtedness; unrecognized compensation cost; repurchases of
common stock; the initial public offering of a minority ownership stake in Safeway's Blackhawk subsidiary,
including the anticipated timing of such transaction; and Lifestyle stores. The following are among the principal
factors that could cause actual results to differ materially from those included in or contemplated or implied
by the forward-looking statements:
• General business and economic conditions in our operating regions, including the rate of inflation or
deflation, consumer spending levels, currency valuations, population, employment and job growth and/
or losses in our markets;
• Sales volume levels and price per item trends;
• Pricing pressures and competitive factors, which could include pricing strategies, store openings,
remodels or acquisitions by our competitors;
• Results of our programs to control or reduce costs, improve buying practices and control shrink;
• Results of our programs to increase sales;
• Results of our continuing efforts to expand corporate brands;
• Results of our programs to improve our perishables departments;
• Results of our promotional programs;
• Results of our capital program;
• Results of our efforts to improve working capital;
• Results of any ongoing litigation in which we are involved or any litigation in which we may become
involved;
• The resolution of uncertain tax positions;
• The ability to achieve satisfactory operating results in all geographic areas where we operate;
• Changes in the financial performance of our equity investments;
• Labor costs, including benefit plan costs and severance payments, or labor disputes that may arise from
time to time and work stoppages that could occur in areas where certain collective bargaining agreements
have expired or are on indefinite extensions or are scheduled to expire in the near future;
• Failure to fully realize or delay in realizing growth prospects for existing or new business ventures,
including our Blackhawk and Property Development Centers subsidiaries;