Safeway Anticipating Boosts in Chicago, Texas From Lifestyle Remodels

NEW YORK -- Safeway is “looking for improved results” at its Dominick‘s stores in Chicago and its Randalls and Tom Thumb stores in Texas as a result of its investments in lifestyle stores in both regions, the chain‘s chief financial officer said here yesterday. Speaking at the Bank of America 2007 Consumer Conference, Robert L. Edwards, executive vice president and chief financial officer for the Pleasanton, Calif.-based company, said lifestyle remodels chainwide have produced strong sales gains regardless of store size, location or the income levels of customers. Speaking of potential growth strategies, Edwards said Safeway may be considering acquisitions. “The industry consolidation that's occurring may provide acquisition opportunities that make sense for Safeway, and there are a number of market adjacencies that may make sense to move into," he said. -- Elliot Zwiebach