Safeway sees higher profits in 2013
Pleasanton-based Safeway issued a 2013 forecast Wednesday that suggests profits at the supermarket giant will top Wall Street's expectations.
Safeway predicted its profit would range from $2.25 to $2.45 a share. That was ahead of Wall Street estimates of $2.24 a share.
That means profits could jump 4 percent to 13 percent, excluding one-time items such as a settlement in 2012 related to a credit card issue.
Investors have been worried about a string of lackluster reports on the company's profits.
During intraday trading, Safeway shares reached a 52-week high of $25.14. But by the close, the company's shares fell 1.5 per percent to finish at $23.94.
Jamba Juice lays plans to expand into Mexico
Emeryville-based Jamba Juice has struck a master franchise agreement to expand into Mexico with dozens of new stores.
Under the deal, 80 Jamba Juice stores would be developed in Mexico over the next 10 years.
The first Jamba Juice store in Mexico is due to open in late 2013.
Jamba reached its franchise deal with Casa Operadora de Franquicias. The principals of the company are veteran executives who operate food, beverage, health and well retail outlets in Mexico and other parts of Latin America.
Energy Recovery's sales soar in Q4
San Leandro-based Energy Recovery said its sales soared and its losses shrank during its fourth quarter that ended in December, said the maker of devices and systems to recovery and harness energy used in the water, oil, natural gas, and chemical industries.
Energy Recovery lost $2.2 million on revenue of $15.1 million for the October-December period.
In the year-ago quarter, the company lost $10 million. Revenue jumped 147 percent.
For all of 2012, the company lost $8.3 million, compared with a loss in 2011 of $26.4 million. Revenue in 2012 totaled $42.6 million, up 52 percent from 2011.