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 ...
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