Glenwood Safeway store is staying open
February 20, 2014
A company official dispelled rumors Thursday that the Glenwood Springs Safeway store may be closing.
However, the California-based grocery chain did announce Wednesday that it is in discussions concerning a possible sale of the company, Kris Staaf, spokeswoman for Safeway's Denver region said.
"There's no truth to that," Staaf said of rumors that have been circulating around Glenwood Springs that the local store may be closing. "We have no plans to do anything other than operate our stores to the best of our ability."
Staaf did refer to a public announcement released Wednesday saying the company is in discussions concerning a possible sale, which she said may have prompted the rumors.
"Although the discussions are ongoing, the company has not reached an agreement on a transaction, and there can be no assurance that these discussions will lead to an agreement or a completed transaction," according to the statement, which was released along with Safeway's fourth quarter 2013 financial results. Safeway Inc. reported that fourth quarter earnings were down last year, to $100 million compared to $170.7 million for the fourth quarter of 2012.
Total revenue, however, was up slightly for the final three months of 2013 at $11.3 billion, compared to $11.2 billion in the fourth quarter of 2012.
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"We are pleased with the progress we made in 2013," said Robert Edwards, Safeway's president and CEO, in the news release. "Strategies to grow sales and improve operating profit dollars have begun to produce results.
"In 2013, we generated our best volume growth since 2006, and we had our best identical-store sales growth in the last five years," Edwards said. "At the same time, we continue to pursue strategies to enhance momentum and increase shareholder value."