PLEASANTON, Calif. — Higher food costs put pressure on the fourth-quarter earnings of Safeway here, the company said Thursday, as net income fell 6% despite a 6.2% increase in sales vs. a year ago. Net income totaled $215.6 million on revenues of $13.6 billion for the 16-week quarter, which ended Dec. 31. Identical-store sales were up 1.5%, excluding fuel. The company attributed the higher revenue total to increased fuel sales, the impact of reporting commissions on its Blackhawk ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess 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’sFREE, 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.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.