PLEASANTON, Calif. — A massive goodwill write-off in its Vons and Eastern divisions triggered a $1.6 billion loss in the fourth quarter for Safeway, the retailer here said Thursday. The $1.8 billion charge was necessitated by a sharp decline in year-over-year share prices, Safeway officials said. Excluding the charge, Safeway posted net income of $209.1 million for the quarter that ended Jan. 2, down from $338 million in the fourth quarter last year. Those results were in line with analyst ...

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 a complimentary copy of SN's salary survey sent to you by email.
 

Click here to read the FAQ page if you have any questions (opens in a new window)
 

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.

Already registered? here.