FINANCE

Safeway profit slips in Q2; on track to open 10 Lifestyle stores in 2012

BY Katherine Boccaccio

Pleasanton, Calif. — Safeway Inc. reported Thursday that profit for the second quarter dropped to $121.7 million from $146 million in the same period last year.

Sales inched up 1.9% to $10.4 billion, and same-store sales rose 0.8%.

For the year, Safeway said it expects to invest $900 million in capital expenditures to open approximately 10 new Lifestyle stores, complete 10 Lifestyle remodels, refurbish in-store pharmacies and develop properties through its Property Development Centers subsidiary.

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OPERATIONS

Quiznos names new CEO

BY Staff Writer

Denver — Quick-serve sandwich chain Quiznos announced that it has named Stuart Mathis as president and CEO, effective July 30.

The company also named Susan Lintonsmith as chief marketing officer.

Mathis was previously president of The UPS Store. He succeeds Greg MacDonald, who is stepping down as Quiznos’ president and CEO, effective immediately.

Lintonsmith was previously senior VP and CMO of Red Robin Gourmet Burgers.

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OPERATIONS

Dollar General teams with Western Union to offer prepaid cards at 10,000 locations

BY Staff Writer

Englewood, Colo. — The Western Union Co. and Dollar General Corp. said that they have executed an agreement to begin offering two Western Union general-purpose reloadable prepaid cards at Dollar General’s more than 10,000 stores in 40 states.

Dollar General is now offering the Western Union MoneyWise and co-branded Western Union Telemundo cards.

“Prepaid cards are growing in popularity as a useful money-management tool, and we’re happy to offer them in our stores as an added convenience for our customers,” said Todd Vasos, Dollar General’s executive VP, division president and chief merchandising officer.

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