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Safeway income grows, sales momentum continues

BY CSA STAFF

PLEASANTON, Calif. —Safeway reported net income of $130.2 million (38 cents per diluted share) for the third quarter of 2011 compared with $122.8 million (33 cents per diluted share) for the third quarter of 2010.

Total sales were $10.1 billion in the third quarter of 2011 compared with $9.4 billion in the third quarter of 2010, due primarily to higher fuel sales, a 1.5% increase in identical-store sales (excluding fuel) and a higher Canadian exchange rate.

"Our sales momentum continued to build in the third quarter, and our costs were well controlled," said Steve Burd, chairman, president and CEO. "At the same time, we continued to innovate throughout the business to meet our customers’ needs and build their loyalty."

Safeway is reaffirming earnings per diluted share and free cash flow guidance for the year. Identical-store sales, excluding fuel, are expected to be approximately 1% for the year.

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REAL ESTATE

JLL to manage Heritage Mall

BY Staff Writer

Albany, Ore. — Atlanta-based Jones Lang LaSalle said Tuesday it has been named as the property and leasing manager for Heritage Mall, a 407,354-sq.-ft. regional shopping center located in Albany, Ore.

Located at the heart of Albany’s retail district, Heritage Mall is the dominant regional center in its primary trade area. The shopping center houses more than 60 retailers and restaurants and is anchored by Target (whose regional distribution center is also in Albany), Sears, Ross Dress for Less and Old Navy. The property’s 2006 remerchandising operation modernized and expanded the space to attract apparel, home furnishing and food tenants, such as Carinos Italian Grill, rue21, Kay Jewelers, Maurices, GameStop and Sally Beauty Supply.

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REAL ESTATE

Multiple stores to open at Stirling Bossier

BY Staff Writer

Bossier City, La. — Covington, La.-based Stirling Properties, developer and property manager of Stirling Bossier Shopping Center, in Bossier City, La., announced the addition of Old Navy, Ulta Beauty, Maurices, Mattress Firm, The Joint and GNC to the center’s tenant lineup.

The phased opening of these new locations over the next six months completes phase four of the center’s six planned phases. Old Navy is anticipated to open in early November within 15,000 sq. ft. of retail space. Ulta will celebrate its grand opening on Oct. 21 in its 10,000-sq.-ft. new store, Maurices is slated to open Oct. 22 in a 5,000-sq.-ft. space, Mattress Firm’s 5,000-sq.-ft. store is planned for a mid-to-late November opening, The Joint chiropractic center will open a 1,200-sq.-ft. center in early 2012, and GNC will also open early 2012 adjacent to The Joint in 1,200 sq. ft. of space.

To date, 28 retail, service and restaurant tenants are already in operation at Stirling Bossier which officially opened in July 2007 with Target as the anchor.

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