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Home > Fortune 500 Companies > Safeway Inc
Safeway Inc
Safeway Inc is a publicly traded company having a good stock performance result trading under SWY. Its stores offer food and general merchandise, as well as feature various specialty departments, such as bakery, delicatessen, floral, and pharmacy. Safeway Inc is a fortune 500 stock listed company.
Safeway Inc was established in 1915. It was formerly known as SSI Holdings Corporation in 1986 and changed its name to Safeway Stores Incorporation. Further, it changed its name to Safeway Inc. in 1990. Safeway is based in Pleasanton, California. Safeway Inc. and its subsidiaries operate as food and drug retailers in North America.
The company’s stores also offer Starbucks coffee shops and adjacent fuel centers. Safeway’s line of products include salsas bagged salads whole bean coffees line of cookies and other sweets the Verdi line of frozen pizzas, frozen pastas, pasta sauces, and olive oils Artisan fresh-baked breads the Primo Taglio line of meats, cheeses, and sandwiches and Signature brand soups, sandwiches, and salads. It also offers ice creams, frozen yogurts, and sorbets cereals and low-fat cereal bars and Gourmet Club frozen entrees and hors d’oeuvres.
The company ranked no. 129 on this year's list of the fortune 500, with 16,816.4 million dollars in revenues, up 1.3 percent from the previous year. Its 2005 profits were 302.5 million dollars, up 263.1 percent from a year earlier. The company employs more than 24 million people, about 16 percent of working Americans. Safeway announced recently that it has settled a federal income tax refund claim with the Internal Revenue Service, under which Safeway expects to receive approximately 315 million dollars in cash in the second half of 2006. The expected federal tax refund of approximately 259 million dollars will be recorded in the second quarter of 2006 as an increase to additional paid-in capital and will not be recorded in the income statement. David F. Bond has been Senior Vice President, Finance and Control, of Safeway since July 1997. In this capacity, he also serves as the Company's Chief Accounting Officer.
The company is good at what ever they do and that is demonstrated by the fact that they have one of the highest client retention rates in the technology services industry. Their clients' success is reflecting in the company’s own financial performance. For the past five years, the company has achieved record growth.
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