Retail News Breaks Archives
Reuters has reported that Safeway Inc. is in advanced discussions with Cerberus Capital Management LP regarding a leveraged buyout of the nation’s second-largest grocery chain.
Fiscal 2014 ended on a disappointing note for Walmart, as the world’s largest retailer recorded a 6.2% decrease in net income from continuing operations to $15.92 billion for the year.
Safeway Inc. on February 19 confirmed it is in discussions concerning a possible sale of the company. The company said that it has not agreed on a deal, that there is no certainty a deal will be reached and that it will not comment further on the discussions at this time.
Jonathan Weis has been appointed president and chief executive officer of Weis Markets. He had been serving as interim CEO since the departure of David Hepfinger in September 2013 and held the position of vice chairman, which he retains, before that.