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SWY » Topics » Other Labor Matters:

This excerpt taken from the SWY 10-K filed Mar 16, 2005.

Other Labor Matters:

 

On October 11, 2003, seven UFCW local unions struck the Company’s 289 stores in Southern California. Safeway estimates the overall cost of the strike reduced 2004 and 2003 earnings by $254.0 million after taxes ($0.57 per diluted share) and $102.9 million after taxes ($0.23 per diluted share), respectively. An agreement ending the strike was reached on February 26, 2004 and was ratified by the unions on February 28, 2004. Employees returned to work beginning March 5, 2004. Additional information concerning the strike is set forth under the caption “Strike Impact” on page 20 of the Company’s 2004 Annual Report to Stockholders and is incorporated herein by this reference.

 

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