SAFEWAY PREPARES FOR REBOUND

PLEASANTON, Calif. -- Safeway here said last week it is disappointed in its same-store sales results of minus-0.7%, but expects the "pump-priming" it's doing to pay off once the economy bounces back."Some of our investments of gross margins in promotional pricing are generating immediate and positive results, while investments in regular pricing are pump-priming and part of a longer-term strategy,"

PLEASANTON, Calif. -- Safeway here said last week it is disappointed in its same-store sales results of minus-0.7%, but expects the "pump-priming" it's doing to pay off once the economy bounces back.

"Some of our investments of gross margins in promotional pricing are generating immediate and positive results, while investments in regular pricing are pump-priming and part of a longer-term strategy," Steve Burd, chairman, president and chief executive officer, told securities analysts

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