American Stores Co. to Move Headquarters Back to Utah
Less than a year after moving its corporate headquarters to Irvine, American Stores Co. has decided to move back to Salt Lake City.
Chief Executive Officer Jonathan L. Scott will move to the Salt Lake City offices by Wednesday, company spokesman Troy D’Ambrosio said, adding that other corporate personnel are expected to follow soon after. The relocation involves about 30 executives and support personnel.
Scott said in December there was a “strong possibility” that the $14-billion conglomerate, which owns the Alpha Beta and Lucky supermarket chains, would return to Utah. Neither Scott nor D’Ambrosio would disclose the reasons.
American moved to Orange County in July, 1988, 1 month after it bought Lucky’s 340 markets in California for $2.5 billion.
In American’s 1988 annual report, Chairman L.S. (Sam) Skaggs said the relocation to Irvine “is an effort to place our headquarters in one of the company’s major operating market areas (and) therefore closer to our business interests. . . .
“American Stores Co. is of the opinion that the new location in Irvine, Calif., will enhance the company’s access to financial centers, management training and executive-recruitment opportunities,” Skaggs said at the time in a letter to shareholders.
American’s California operations are extensive. In addition to the Lucky stores, American operates about 240 Alpha Beta markets in the state and about 150 Osco drugstores. Alpha Beta is based in Irvine, and its Southern California division is based in La Habra.
D’Ambrosio declined comment on what American plans to do about its 5-year lease on 33,131 square feet of space in the Atrium office complex in Irvine.
