Inflation Tempers Safeway's Optimism for 2nd-Half Earnings

PLEASANTON, Calif. While performance at remodeled lifestyle stores continued to drive sales for Safeway through the first half of the year, the retailer here last week expressed concerns that inflation and shrink in the second half of the year could constrain earnings growth. Speaking to analysts during a conference call to discuss financial results for the fiscal second quarter ended June 16, Steve

PLEASANTON, Calif. — While performance at remodeled lifestyle stores continued to drive sales for Safeway through the first half of the year, the retailer here last week expressed concerns that inflation and shrink in the second half of the year could constrain earnings growth.

Speaking to analysts during a conference call to discuss financial results for the fiscal second quarter ended June 16, Steve Burd, chairman, president and chief executive officer, said that despite stro

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