The company reached the agreement with AB Acquisitions, a subsidiary of Boise, Idaho-based Albertsons, in March. Voting will take place during the company's regularly scheduled annual meeting.
Safeway released financial information for the second quarter and first half ended June 14 in a 10Q document earlier this week.
Sales for the 12-week quarter rose 1.9% to $8.3 billion, with comparable store sales up 2.5%, while income from continuing operations rose 29% to $80.6 million. For the half sales were up 1.2% to $16.3 billion, with a net loss of $3.1 million, including a loss of $900,000 from discontinued operations.
Safeway is also reportedly cooperating with the Drug Enforcement Agency on a matter involving record-keeping, reporting and related practices associated with the loss or theft of controlled substances. One industry analyst said Safeway believes any resulting liability, including any punitive damages, will not have a material adverse effect on its financial statements taken as a whole.
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