Safeway CEO: Dominick's Sale in '7th Inning'
CHICAGO - Safeway Inc. CEO Steve Burd told Wall Street analysts Thursday the company is "in the bottom of the 7th inning" in its negotiations to sell the Dominick's grocery store chain, according to a report in the Chicago Sun-Times.
Eden Prairie, Minn.-based wholesaler Supervalu Inc. is believed to be the front-runner to buy Dominick's. The least profitable Dominick's or those that too closely overlap with Cub Foods, a grocery chain owned by Supervalu, are expected to be closed or sold.
Burd said Safeway has asked the two locals of the United Food and Commercial Workers union at Dominick's to extend their contracts, which expire Saturday.
Though Burd said the unions have yet to respond, the unions told their members last week that they are preparing to negotiate with Safeway, according to the report.
Eden Prairie, Minn.-based wholesaler Supervalu Inc. is believed to be the front-runner to buy Dominick's. The least profitable Dominick's or those that too closely overlap with Cub Foods, a grocery chain owned by Supervalu, are expected to be closed or sold.
Burd said Safeway has asked the two locals of the United Food and Commercial Workers union at Dominick's to extend their contracts, which expire Saturday.
Though Burd said the unions have yet to respond, the unions told their members last week that they are preparing to negotiate with Safeway, according to the report.
