PLEASANTON, CALIF. — Safeway here said last week it expects ongoing cost reductions to enable it to implement lower pricing during 2009. “The market underestimates Safeway's ability to reduce costs — it believes if we invest in price, then earnings will decline,” Steve Burd, chairman, president and chief executive officer, said at the chain's annual investors conference here. “But that is not the case.” Safeway is projecting earnings per share for 2009 of $2.34 to $2.44 and non-fuel ...
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.