PLEASANTON, Calif. — Stock in Safeway here fell more than 5% yesterday after the company posted a 3.1% decline in same-store sales for the first quarter and said profits fell by a third, adding that short-term profit pressures persist. The company expects deflation to decline and inflation to increase through the first half of the year but does not anticipate reflecting rising costs in its pricing immediately, Steve Burd, chairman, president and chief executive officer, told analysts ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive complimentary access to the SN salary survey data tables.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.