Safeway to End Print Ads, Reports Sales Growth
Pleasanton, CA-
By ANUK Staff
2.22.13
Safeway has announced that the success of its Just For U digital program may allow the company to end print ads in the US.
Steve Burd, Chariman and CEO discussed financial results for the year and fourth quarter ending Dec. 29 in a conference call with analysts. He noted that Safeway’s health and wellness initiative should be launched by mid-year.
Burd said that Just For U program may allow the chain to pull back on promotional print spending by the end of the year, pointing to the public’s increased affinity for all things digital and personalized.
Net income rose 13.1% to $244 million for the 16-week quarter, and sales rose by 1.3% to $13.8 billion.
For the full year, net income climbed 15.4% to $596.5 million, while sales rose 1.3% to $44.2 billion.
Included in the results were sales or closures of Genuardi’s stores, lowering net income by $9.6 million for the quarter and $31.9 million for the year. Also included were the benefits of legal settlements.
