PRICE STRATEGY BLAMED FOR SAFEWAY PROFIT WARNING

PLEASANTON, Calif. -- Safeway's first-quarter profit warning last week illustrated how painful it can be for traditional supermarket companies to adjust their pricing to meet the demands of today's competitive marketplace, according to analysts.The company said its results for the first quarter ended March 22 would be about 43 to 45 cents per share, which is a 30% drop from year-ago levels and 20%

PLEASANTON, Calif. -- Safeway's first-quarter profit warning last week illustrated how painful it can be for traditional supermarket companies to adjust their pricing to meet the demands of today's competitive marketplace, according to analysts.

The company said its results for the first quarter ended March 22 would be about 43 to 45 cents per share, which is a 30% drop from year-ago levels and 20% below what analysts had predicted. It attributed the shortfall largely to a decline in

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