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SWY » Topics » NOTE I - STORE CLOSING AND OTHER CHARGES

This excerpt taken from the SWY 10-Q filed Oct 20, 2005.

NOTE I – STORE CLOSING AND OTHER CHARGES

 

Operating and administrative expense in the first 36 weeks of 2005 included $54.7 million of impairment charges related to 26 stores in Texas, which the Company plans to close, and $21.9 million for an employee buyout charge in Northern California.

 

Operating and administrative expense in the first 36 weeks of 2004 included charges of $45.7 million of store lease exit costs related to the closure of 12 under-performing Dominick’s stores and $19.7 million of required contributions to two Northern California UFCW multi-employer health and welfare plans. Also included in the first 36 weeks of 2004 were charges related to the settlement of the Southern California strike: $36.5 million for the contribution to the Southern California union health and welfare trust fund and $9.3 million for a contract ratification bonus.

 

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