Word: genuardi
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...chains are undergoing a massive restructuring that will determine which among them survive. "We've made a few mistakes," concedes Safeway CEO Steve Burd, who was the industry darling for years until his cost-cutting skills sucked the life out of recent acquisitions, including Dominick's in Chicago and Genuardi's in Philadelphia. Revenues at the 1,800-store chain edged up 2%, to $35.6 billion last year, as the company logged $170 million in losses. With several big pension funds calling for his head, Burd embarked on a two-week road show last month to convince investors that...
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