Deflation More Than Expected in Q2: Safeway

Safeway here said Thursday that an unanticipated spike in deflation is offsetting sales-volume improvements.

PLEASANTON, Calif.Safeway here said Thursday that an unanticipated spike in deflation is offsetting sales-volume improvements.

In a conference call with analysts discussing second-quarter results, the company said sales gains in the second quarter and first half, which ended June 19, were basically flat, driven primarily by a more favorable Canadian exchange rate and higher fuel prices but offset by a 2.5% de

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