USA: Safeway sued as grocery strikes continue
US grocery retailer Safeway and its management and board have been sued by two pension funds, alleging insider misconduct, mismanagement and deceit.
The Pinellas Park General Employees' Pension Fund and the Pompano Beach Police & Firefighters Retirement System filed civil lawsuits late last week in the San Mateo County Superior Court, reported Dow Jones International News.
Safeway, which is currently grappling with the ongoing grocery workers strike in California, has said the suits are without merit, and that they are part of an attempt to discredit Safeway by labour leaders representing striking workers at its Vons chain in California.
Meanwhile, as the strikes continue, three customers have filed a lawsuit alleging that Albertsons, Kroger's Ralphs chain and Vons are engaging in unfair competition. The suit seeks damages and a court order to stop the companies from aiding each other financially, referring to the grocers' agreement to divide strike-related costs, reported Reuters.
Talks between union representatives and the three grocery chains were expected to resume at the weekend.
US supermarket chain Albertsons has reported a slight rise in net earnings for the second quarter to 4 August and said it was still "aggressively" running the company despite last week's announcement ...
Grocery retailer Albertsons has announced that its board of directors is exploring strategic alternatives to increase shareholder value, including a possible sale of the company....
UK grocery retailer Wm Morrison Supermarkets has announced that it has agreed to sell nine Safeway stores to rival Sainsbury's....
US grocery retailer Kroger has announced that it has entered into a multi-year agreement with InStore Broadcasting Network (IBN) to provide a television network for customers in more than 2,500 Kroger...
Supermarket chain Safeway has reported net income of $134.0m for the second quarter ended 18 June 2005 compared to $155.2m for the second quarter of the previous year....
Supermarket company Kroger has today reported net earnings of $294.3m for the first quarter ended 21 May 2005. Net earnings in the year-ago period were $262.8m....
Supermarket chain Safeway has reported net income of $131.3mfor the first quarter ended 26 March 2005 compared to $43.1m for the first quarter of 2004....
US natural and organic foods retailer Wild Oats Markets has announced that Robert Dimond has been named senior vice president and chief financial officer, effective 28 April....
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