SAFEWAY FORGES FIXES FOR SALES, EARNINGS SHORTFALL

PLEASANTON, Calif. -- Safeway here said last week it will focus on "basic blocking and tackling" in the wake of negative same-store sales and an earnings shortfall for the second quarter ended June 15.Same-store sales for the quarter will decline 1.1% -- the company's first comp-store decline in 38 quarters -- and earnings per share before one-time charges will be 71 to 73 cents, 5% to 8% below consensus

PLEASANTON, Calif. -- Safeway here said last week it will focus on "basic blocking and tackling" in the wake of negative same-store sales and an earnings shortfall for the second quarter ended June 15.

Same-store sales for the quarter will decline 1.1% -- the company's first comp-store decline in 38 quarters -- and earnings per share before one-time charges will be 71 to 73 cents, 5% to 8% below consensus estimates of 77 cents, the company said.

"But you can be sure we will tr

Register to view the full article

test - Advanced Registered User

Already a member? .