top
California
California
Indybay
Indybay
Indybay
Regions
Indybay Regions North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area California United States International Americas Haiti Iraq Palestine Afghanistan
Topics
Newswire
Features
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature

Safeway's sales dip slightly

by corporate media repost
The target of a massive strike for health care and a local boycott campaign, Safeway is now reporting lower same store sales. Unions announced today that they will begin a comprehensive statewide boycott of Safeway.
April 15, 2003

Safeway's comparable store sales dip slightly

The preliminary results are in: Pleasanton-based grocery chain Safeway Inc. (NYSE: SWY) anticipate flat total sales and a decline in same store sales by half a percentage point for the quarter ended march 22, due mainly lower gross margins and higher operating and administrative costs.

The company, which operates 1,695 stores in the U.S. and Canada, expects to report diluted earnings per share from continuing operations ranging between 43 cents and 45 cents per share. For 2002's comparable period, Safeway reported a net loss of $367.9 million on revenue of $7.9 billion.

Safeway officials blamed the centralization of its marketing efforts for a large portion of increased expenses this most recent quarter. Steven Burd, Safeway's chairman and CEO, said the preliminary first quarter results are an improvement compared with fourth quarter results, but that more needs to be done to improve same-store tallies. He added that chain has made progress with training and organizing the stores.

The company expects to announce final financial results for the quarter on May 1.

Add Your Comments
Listed below are the latest comments about this post.
These comments are submitted anonymously by website visitors.
TITLE
AUTHOR
DATE
ultra vires
Wed, Feb 11, 2004 11:14PM
We are 100% volunteer and depend on your participation to sustain our efforts!

Donate

$110.00 donated
in the past month

Get Involved

If you'd like to help with maintaining or developing the website, contact us.

Publish

Publish your stories and upcoming events on Indybay.

IMC Network