No Evidence of Economic Recovery Yet: Burd

The end of the recession could occur within one or two quarters, but there is no evidence yet of consumers trading back up to more discretionary purchases, Steve Burd, chairman, president and chief executive officer of Pleasanton, Calif.-based Safeway, said at an investors’ conference here yesterday.

NEW YORK — The end of the recession could occur within one or two quarters, but there is no evidence yet of consumers trading back up to more discretionary purchases, Steve Burd, chairman, president and chief executive officer of Pleasanton, Calif.-based Safeway, said at an investors’ conference here yesterday.

“The process of trading down took several quarters to be complete across all categories, and it is now so pervasive that it’s hard to believe there is much room to trade

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