BURD SEES SAFEWAY'S COSTS DECLINING IN NEXT FEW YEARS

BOSTON -- Safeway's top executive expects the company to return to an era of declining operating and administrative expenses during the next few years, he told an investor conference here last week."Safeway has a long history of reducing costs," said Steve Burd, chairman, president and chief executive officer of the Pleasanton, Calif.-based company, noting that Safeway had 31 consecutive quarters

BOSTON -- Safeway's top executive expects the company to return to an era of declining operating and administrative expenses during the next few years, he told an investor conference here last week.

"Safeway has a long history of reducing costs," said Steve Burd, chairman, president and chief executive officer of the Pleasanton, Calif.-based company, noting that Safeway had 31 consecutive quarters of reductions in operating and administrative costs before 2001. "But over the last thre

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