Safeway 2010 Annual Report Download - page 20

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SAFEWAY INC. AND SUBSIDIARIES
FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K for Safeway Inc. (“Safeway,” the “Company,” “we” or “our”) contains certain
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. The Company also provides forward-looking statements in other materials which are
released to the public, as well as oral forward-looking statements.Forward-looking statements contain information about
our future operating or financial performance. Forward-looking statements are based on our current expectations and
involve risks and uncertainties, which may be beyond our control, as well as assumptions. If assumptions prove to be
incorrect or if known or unknown risks and uncertainties materialize into actual events or circumstances, actual results
could differ materially from those included in or contemplated or implied by these statements. Forward-looking
statements do not strictly relate to historic or current facts. Forward-looking statements are indicated by words or phrases
such as “continuing,” “ongoing,” “expects,” “estimates,” “anticipates,” “believes,” “guidance” and similar words or
phrases and the negative of such words or phrases.
This Annual Report on Form 10-K includes forward-looking statements relating to, among other things: changes to the
total closed store reserve; uses of cash; ability to borrow under commercial paper program and/or bank credit facilities;
sufficiency of liquidity; indemnification obligations; dividend payments on common stock; cash capital expenditures;
outcomes of legal proceedings; the effect of new accounting standards; compliance with laws and regulations; pension
plan expense and contributions; obligations and contributions under benefit plans; the rate of return on pension assets;
total unrecognized tax benefits; amount of indebtedness; unrecognized compensation cost; and Lifestyle stores. The
following are among the principal factors that could cause actual results to differ materially from those included in or
contemplated or implied by the forward-looking statements:
• General business and economic conditions in our operating regions, including the rate of inflation or deflation,
consumer spending levels, currency valuations, population, employment and job growth and/or losses in our
markets;
• Sales volume levels and price per item trends;
• Pricing pressures and competitive factors, which could include pricing strategies, store openings, remodels or
acquisitions by our competitors;
• Results of our programs to control or reduce costs, improve buying practices and control shrink;
• Results of our programs to increase sales;
• Results of our continuing efforts to expand corporate brands;
• Results of our programs to improve our perishables departments;
• Results of our promotional programs;
• Results of our capital program;
• Results of our efforts to improve working capital;
• Results of any ongoing litigation in which we are involved or any litigation in which we may become involved;
• The resolution of uncertain tax positions;
• The ability to achieve satisfactory operating results in all geographic areas where we operate;
• Changes in the financial performance of our equity investments;
• Labor costs, including benefit plan costs and severance payments, or labor disputes that may arise from time to time
and work stoppages that could occur in areas where certain collective bargaining agreements have expired or are on
indefinite extensions or are scheduled to expire in the near future;
• Failure to fully realize or delay in realizing growth prospects for existing or new business ventures, including our
Blackhawk and Property Development Centers subsidiaries;
• Legislative, regulatory, tax, accounting or judicial developments, including with respect to Blackhawk;
• The cost and stability of fuel, energy and other power sources;
• The impact of the cost of fuel on gross margin and identical-store sales;
• Discount rates used in actuarial calculations for pension obligations and self-insurance reserves;
• The rate of return on our pension assets;
• The availability and terms of financing, including interest rates;
• Adverse developments with regard to food and drug safety and quality issues or concerns that may arise;
• Loss of a key member of senior management;
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