Safeway Invades New York

Second-largest grocery chain in volume of business, Safeway Stores came out of the West last week, took first steps toward acquiring the Daniel Reeves chain of New York. Reeves's 498 units (215 in New York City) will bring Safeway up to 3,016. Gargantuan A. & P. has over 9,000 stores in the U.S., only 152 in New York City.

Four days after President James Reeves announced the deal, Chairman Marion Barton Skaggs of Safeway resigned in San Francisco. This was no comment by Safeway's founder on the Manhattan adventure, for Skaggs has been in virtual retirement since he sold controlling...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!