Last $34.64 USD
Change Today +0.14 / 0.41%
Volume 7.4M
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

safeway inc (SWY) Snapshot

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03/6/14 - $36.03
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07/15/13 - $21.87
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safeway inc (SWY) Details

Safeway Inc. operates as a food and drug retailer in the United States. The company’s stores offers a selection of food and general merchandise; and features various specialty departments, such as bakery, delicatessen, floral, seafood, and pharmacy, as well as Starbucks coffee shops, and adjacent fuel centers. It also owns and operates online grocery channels, including and; manufactures and processes private-label merchandise; and gift cards, prepaid telecom products, and prepaid financial service products. The company sells its products under the various trademarks, such as Safeway, Safeway SELECT, Rancher’s Reserve, O Organics, Lucerne, Primo Taglio, Eating Right, mom to mom, waterfront BISTRO, Bright Green, Pantry Essentials, Open Nature, Refreshe, Snack Artist, Signature Café, Priority, just for U, My Simple Nutrition, and Ingredients for Life, as well as other trademarks comprising Pak’N Save Foods, Vons, Pavilions, Randalls, Tom Thumb, and Carrs Quality Centers. It operates 1,335 stores. The company was formerly known as Safeway Stores, Incorporated and changed its name to Safeway Inc. in February 1990. Safeway Inc. was founded in 1926 and is based in Pleasanton, California.

138,000 Employees
Last Reported Date: 02/26/14
Founded in 1926

safeway inc (SWY) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $839.6K
Executive Vice President and President of Saf...
Total Annual Compensation: $819.8K
Chief Marketing Officer and Executive Vice Pr...
Total Annual Compensation: $728.4K
Executive Vice President of Retail Operations
Total Annual Compensation: $652.2K
Compensation as of Fiscal Year 2013.

safeway inc (SWY) Key Developments

Safeway Inc. Announces Voluntarily Recall of Various Chicken Products in Five States in Cooperation with Foster Farms

Safeway Inc. announced that in cooperation with the Foster Farms voluntary recall of products that may have been contaminated with Salmonella Heidelberg, the company is voluntarily recalling a limited number of products made with chicken supplied by Foster Farms sold with 'Use or Freeze By' dates ranging from March 17, 2014 through March 29, 2014. These items were sold in March 2014 in five states from both the self-service and full-service meat cases in stores. As these items were sold fresh, they are no longer available in stores. This recall includes all marinated or seasoned fresh chicken products sold from the self-service or full-service counter in Northern California, Hawaii, Northern Nevada, Oregon and Western Washington State with 'Use or Freeze By' dates ranging from 17 March 2014 through 29 March 2014. The marinades and season flavours include Bulgogi, Charmoula, Greek Lemon, Drunken, Yellow Curry, Caribbean Jerk, Buffalo and Chipotle Brown Sugar.

Safeway Agrees to Resolve Shareholder Lawsuit over Sale to Cerberus

Safeway announced on June 16, 2014 that it agreed to resolve a shareholder lawsuit over its pending sale to an investment group led by Cerberus Capital Management. Safeway said it will terminate its "poison pill" shareholder rights plan on Thursday instead of letting the plan expire in September. Such plans are often used to deter unwanted takeovers. The company also adjusted terms of the deal related to its ownership of Casa Ley. Shares of Safeway Inc. gained 6 cents to $34.15 in afternoon trading. They have been steady over the past three months but are up 57% since a year ago. In March Cerberus agreed to buy Safeway for $7.64 billion, or $32.50 per share, in cash. Pending other transactions the deal could top $9 billion, or about $40 per share. As part of the latter deal, Safeway said it would sell its 49% stake in the company, and if it failed to do so in four years, shareholders would get a cash distribution equal to the value of its holdings. On June 16, 2014, it shortened that period to three years.

Safeway Inc. Announces Settlement of Certain Actions in Connection with the Proposed Merger

Safeway Inc. announced its entry into a memorandum of understanding to settle the consolidated class action pending in the court of Chancery of the State of Delaware filed on behalf of alleged Safeway stockholders against Safeway in connection with Safeway's proposed merger with an affiliate of AB Acquisition LLC. The memorandum of understanding provides for, among other things, an amendment to the definitive merger agreement to adjust certain provisions of the Casa Ley contingent value rights agreement and the PDC contingent value rights agreement, each of which were previously attached as exhibits to the definitive merger agreement, an agreement by Safeway to terminate Safeway's stockholder rights plan, commonly referred to as a 'poison pill', effective June 19, 2014, and certain changes to the proxy statement filed in connection with the proposed merger, which changes will be captured in the definitive proxy statement that Safeway intends to file with the U.S. Securities and Exchange Commission (SEC). While Safeway has entered into the memorandum of understanding and an amendment to the definitive merger agreement and has accelerated the expiration date of the stockholder rights plan to June 19, 2014, the settlement will be subject to the approval of the Delaware Chancery Court. Safeway and the Board of Directors of Safeway believe the claims are entirely without merit, and in the event the settlement does not resolve them, intend to vigorously defend these actions. The changes to the terms of the PDC CVR Agreement provide that, among other things, the holders of the contingent value rights under the PDC CVR Agreement would, instead of not receiving any value for any assets of Safeway's shopping center portfolio that remain unsold at the end of the two year sale deadline period under the PDC CVR Agreement, be entitled to the fair market value of the unsold assets (net of certain expenses, fees and taxes). The changes to the terms of the Casa Ley CVR Agreement, among other things, shorten the sale deadline period from four years to three years. In the event any of the equity interests of Casa Ley, S.A. de C.V., a Mexico-based food and general merchandise retailer, owned by Safeway remain unsold as of the sale deadline period, the determination of the fair market value that the holders of the contingent value rights under the Casa Ley CVR Agreement would be entitled to at the end of the sale deadline period would exclude any minority, liquidity or similar discount regarding such equity interests.


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