Safeway Exploring Canada Sale: Report

Safeway may be exploring the sale of its stores in Canada, according to a report in the Financial Times newspaper.

PLEASANTON, Calif. — Safeway may be exploring the sale of its stores in Canada, according to a report in the Financial Times newspaper. The report cited anonymous sources suggesting the retailer here felt it was not getting credit on Wall Street for its Canadian operation, which operated 222 stores, 12 manufacturing plants and four distribution centers, and generated around $5.5 billion in sales and $229 million in profits in the 2006 fiscal year. The same report cited sources saying that Safeway had been approached by representatives of Roundy’s to discuss a possible deal for Safeway’s Dominick’s division in Chicago. A Safeway spokesman was not immediately available for comment Friday.

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