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Safeway 'On Track' to Remodel Stores

PLEASANTON, CA-The supermarket chain, posting higher sales and earnings for the third quarter, reports that it is on track with its Lifestyle store make-overs.

By Bob Howard | Updated on October 11, 2007

PLEASANTON, CA-Safeway Inc., posting higher sales and earnings for the third quarter in financial filings released Thursday, reported that it is on track with its Lifestyle store makeovers, a program designed to turn all of its new and existing locations into the Lifestyle format. “Our Lifestyle store rollout, along with innovation in both perishable and non-perishable offerings, continues to generate sales growth in our stores,” Safeway president, chairman and CEO Steve Burd commented in a conference call with financial analysts Thursday.

Burd told the conference call listeners that the Lifestyle store program is “right on track” with plans first envisioned for the program three years ago. The new store portion of the program “is modest at this point” in the year because it is “heavily back-end loaded,” Burd explained. “In the third quarter we completed only one new store, but more importantly we completed 76 remodels during the quarter,” Burd said.

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