SAFEWAY'S OPERATING NET RISES ABOVE EXPECTATIONS

OAKLAND, Calif. -- Safeway here reported operating earnings of $58.9 million in its second quarter ended June 18, an increase of 63.6% and far above Wall Street's expectations.Net income in the 12-week period -- including a $7.4 million charge related to early-debt retirement -- increased 43.1% to $51.5 million. The consensus estimate among securities analysts who follow Safeway was for operating

OAKLAND, Calif. -- Safeway here reported operating earnings of $58.9 million in its second quarter ended June 18, an increase of 63.6% and far above Wall Street's expectations.

Net income in the 12-week period -- including a $7.4 million charge related to early-debt retirement -- increased 43.1% to $51.5 million. The consensus estimate among securities analysts who follow Safeway was for operating earnings of about 39 cents per share, well below the 48-cents per share Safeway achieved

Register to view the full article

test - Advanced Registered User

Already a member? .