Safeway 1Q Profit More Than Triples
Pleasanton, Calif., Safeway Inc.’s first-quarter profit more than tripled to $131.3 million, or 29? per share, for the three months ended March 26, compared to $43.1 million, or 10? per share, a year ago. Revenue was $8.62 billion for the quarter, a 12% increase from $7.68 billion for the year-ago period. However, the Pleasanton, Calif.-based grocer warned that earnings would likely falter in the current quarter.
O’Reilly Auto Agrees to Purchase W.E. Lahr, Midwest Auto
San Francisco, After yesterday’s closing bell on Wall Street, O’Reilly Automotive said it has agreed to buy all of the outstanding stock of W.E. Lahr Co., its Midwest Auto Parts Distributors subsidiary and affiliates for $61 million in cash. The transaction is expected to close by the end of May.
Wal-Mart Honors Thousands of Top Teachers
Bentonville, Ark., Wal-Mart’s 10th annual Teacher of the Year program will recognize more than 3,800 teachers nationwide. As a result of their selection, the schools of the winning teachers will receive $1,000 each from Wal-Mart. In total, Wal-Mart will donate $4.2 million to schools nationwide.
The program is in conjunction with Phi Delta Kappa International, a national professional education association. The winning teachers will be notified this week as part of Teacher Appreciation Week, May 1-7, and in honor of National Teacher’s Day, which is today.