WAREHOUSE STRIKE HURTS 4Q EARNINGS AT SAFEWAY

PLEASANTON, Calif. -- Safeway here said last week the 47-day Teamster strike against its northern California distribution center cost the company approximately $114 million, dropping earnings per share by 13 cents for the fourth quarter ended Dec. 30.Steve Burd, chairman, president and chief executive officer, said the strike cost Safeway $140 million in lost sales, which resulted in a onetime loss

PLEASANTON, Calif. -- Safeway here said last week the 47-day Teamster strike against its northern California distribution center cost the company approximately $114 million, dropping earnings per share by 13 cents for the fourth quarter ended Dec. 30.

Steve Burd, chairman, president and chief executive officer, said the strike cost Safeway $140 million in lost sales, which resulted in a onetime loss of $24 million, combined with productivity losses totaling $49 million and gross margi

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