October 8, 2008 |
Higher sales at its gas stations and upscale stores helped boost grocer Safeway Inc.'s profit nearly 3% in its third fiscal quarter. The nation's second-biggest grocery chain said Tuesday that its profit rose to $199.7 million, or 46 cents a share, for the three months ended Sept. 6, from $194.6 million, or 44 cents, a year earlier. The results sent Safeway shares up nearly 5% on Tuesday to close at $22.85, gaining $1.08 for the day.
July 18, 2008 |
Higher gasoline sales and a boost from its more upscale stores helped grocer Safeway Inc. post higher second-quarter earnings Thursday, but a downbeat outlook caused by reduced consumer spending sent its shares tumbling more than 10%. The nation's second-largest grocer, which owns Vons, said that cutting costs and revising its retail strategy helped it to report the higher earnings, which beat Wall Street expectations. Chief Executive Steve Burd said Safeway had a very strong quarter but acknowledged that the economy and its effect on shoppers' spending habits made for soft same-store sales.
April 25, 2008 |
Supermarket operator Safeway Inc. reported Thursday that its profit rose 11% in the first quarter amid slowing sales growth, results that were boosted by the Easter holiday, a weak dollar and higher gasoline sales. The company said it earned $193.4 million, or 44 cents a share, for the January-March period, up from $174.4 million, or 39 cents, a year earlier. Revenue rose 7% to $10 billion. Analysts surveyed by Thomson Financial expected a profit of 42 cents a share on revenue of $9.72 billion.
March 5, 2008 |
Shares of Safeway Inc. rose Tuesday after Chief Executive Steve Burd said he might sell or "monetize" part of its Blackhawk Network gift-card unit because it was undervalued. Burd also reiterated the company's 2008 forecast. Shares of Pleasanton, Calif.-based Safeway climbed $1.25, or 4.4%, to $29.70, the biggest gain since Jan. 16. The shares are down 13% this year.
February 22, 2008 |
Safeway Inc. said Thursday that fourth-quarter profit fell 2.2% after a year-earlier tax gain. The supermarket chain also said sales growth in the current quarter slowed, pushing its stock down the most in almost four years. Net income decreased to $301.1 million, or 68 cents a share, while revenue rose 6.8% to $13.4 billion, helped by store renovations, Safeway said. Profit matched the average analyst estimate. A year earlier, a tax gain boosted earnings by 8 cents a share.
December 14, 2007 |
Vons parent Safeway Inc. said profit might grow next year on new product lines and increased sales at its remodeled stores. Earnings will be $2.25 to $2.35 a share, the Pleasanton, Calif.-based supermarket company said. That compares with the $2.27 average estimate of analysts surveyed by Bloomberg. Identical-store sales, excluding gasoline, may grow as much as 3.2%, Safeway said. Identical-store sales are sales at stores open at least five quarters. Safeway shares rose $1.06, or 3.1%, to $35.