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Safeway to Convert All Stores to Lifestyle Format - Advertisement - RETAIL NOTES: Safeway to convert all stores to Lifestyle format June 3, 2006 All of Safeway's nearly 1,800 stores will be converted to the chain's Lifestyle format by the end of 2009, Safeway Chief Executive Officer Steve Burd promised at the annual shareholders meeting held May 25. Mr. Burd said that the Lifestyle stores have been very successful and have registered sales gains 23 percent higher than remodeled Safeway stores in past years. The company has spent $2.6 billion on the program in the past two years, converting 550 stores. Another $1.6 billion has been allocated this year, at which point more than one-third of the stores should feature the new format. The Lifestyle stores feature expanded produce sections and an upscale look in that department and throughout the store. The floor of the produce department has a wood look and wood-like bins, wider aisles and more space devoted to organics as well as value- added items. In recent interviews with The Produce News, several well-known retail produce experts praised the format as an example of how traditional supermarkets can compete against the discount operations by emphasizing their strengths: service and variety. At the shareholder meeting, Mr. Burd said that fiscal 2005 saw overall sales up more than 7 percent, adjusted operating income increasing by about 16 percent and earnings per share up more than 17 percent. Marsh announces a second bidder has entered the fray b> In a press release, Marsh Supermarkets, headquartered in Indiana, said that a second bidder has made a higher offer to buy the financially 1 / 3 troubled company. Drawbridge Special Opportunities Advisors and Cardinal Paragon Inc. have offered to acquire the supermarket chain for $13.625 per share, which is $2.50 per share higher than the Sun Capital Partners' current offer of $11.125 per share. Marsh shareholders have yet to vote on that deal, although the company tentatively agreed to the sale and faces a $10 million fee if it backs out. The company's board of directors had previously recommended that shareholders approve the merger with Sun Capital. The company's press release issued May 30 said that the board had not revisited its decision. Marsh did not do the math on the new offer, but supermarket analysts did. Marsh has 7.91 million shares outstanding, which would make the Sun Capital Partners offer worth nearly $88 million and the new offer worth more than $107 million. Stock in the company shot up by $2.29, or 21 percent May 30, to close at $13.20 a share on the NASDAQ. The company operates 69 Marsh supermarkets, 38 LoBill Foods stores, eight O'Malia Food Markets, 154 Village Pantry convenience stores and two Arthur's Fresh Market stores in Indiana, Illinois and Ohio. Supervalu and Albertsons' shareholders approve deal b> At their separate annual meetings, shareholders of Supervalu Inc. and Albertsons approved the plan that will make Supervalu one of the nation's larger supermarket operations. In January, Albertsons accepted a takeover bid of $9.8 billion in cash and stock and the assumption of $6.1 billion of debt from a group led by Supervalu. As Albertsons announced that its shareholders agreed to the deal, it also said that its fiscal first- quarter earnings rose 67 percent, helped by a one-time gain for pension curtailments. The company said it earned $167 million, or 45 cents per share, for the quarter ended May 4 vs. $100 million, or 27 cents per share, for the year- ago period. Results for the first quarter include a pretax gain of $47 million, or 8 cents per share, for planned pension curtailments approved during the quarter. Analysts, on average, had expected a 25-cents-per-share earnings statement on sales of $10.05 billion. Sales did not reach that level, but expenses were much lower than anticipated leading to the higher than expected earnings. During the quarter, Albertsons opened eight stores, closed 18 and remodeled 20. At quarter's end, a total of 2,461 stores were open. The stock rose modestly on the news to $25.68. The acquisition by Supervalu is expected to close in early June, making it the nation's second largest traditional supermarket chain. Albertsons and independent fight over 'Lucky' name br> A federal judge has blocked Albertsons from using the Lucky stores name on five of its Northern California stores. Albertsons stripped the name from all of its Lucky stores in 2000 soon after acquiring that chain. Earlier this year, Grocery Outlet Inc., a Berkeley, CA-based independent, took the "Lucky" name for one of its stores. It sued Albertsons, claiming the chain's non-use of the Lucky banner was a de facto forfeiture of the right to the name. Albertsons counter-sued, stating that it continued to use the brand 2 / 3 within its stores. It then began using the name in its advertising and on its web site and announced plans to rename the stores in question. Grocery Outlet has plans to open two more Lucky stores in the area, but the company has put those plans on hold until the situation is resolved. Grocery Outlet has applied for a trademark that combines the old "Lucky" logo with Grocery Outlet's own rainbow trademark. Print Powered by TCPDF (www.tcpdf.org) 3 / 3.
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