Safeway Profits Decline in Q3

Safeway last week posted a sharp decline in third-quarter profits but said it is seeing dramatic improvements among consumers who are not regular high-volume shoppers in three of the four U.S. markets in which it has launched its lower-price campaigns. The four markets are Northern California, Southern California, Chicago and the Eastern division. In three of the four, we got

PLEASANTON, Calif. — Safeway here last week posted a sharp decline in third-quarter profits but said it is seeing “dramatic improvements” among consumers who are not regular high-volume shoppers in three of the four U.S. markets in which it has launched its lower-price campaigns.

The four markets are Northern California, Southern California, Chicago and the Eastern division.

“In three of the four, we got a very good immediate response, while in the fourth, we got a stro

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