PLEASANTON, Calif. — Safeway stock plummeted by more than 10% last Thursday after the retailer here said quarterly sales were down — and likely to remain down while the retailer adjusts pricing to better compete during the current economic downturn.
Steve Burd, Safeway's chairman, president and chief executive officer, emphasized that earnings per share of 53 cents for the second quarter, which ended June 14, were a penny ahead of analysts' expectations, citing cost reductions against the ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
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? Log In