PLEASANTON, Calif. — Safeway here said Thursday that an unanticipated spike in deflation is offsetting sales-volume improvements. In a conference call with analysts discussing second-quarter results, the company said sales gains in the second quarter and first half, which ended June 19, were basically flat, driven primarily by a more favorable Canadian exchange rate and higher fuel prices but offset by a 2.5% decline in identical-store sales and a deflation rate of 2.4%. “Volume ...
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.
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.