Safeway Profits Up, Stock Down

The stock market took a show me attitude to Safeway's fourth-quarter financial results last week driving the share price down in an apparent demonstration of dissatisfaction that the company's price investments have not shown up strongly enough on the top line, analysts told SN. While earnings were up 12.3% to $338 million for the fourth quarter, which ended Jan. 3, sales rose 3.4%

PLEASANTON, Calif. — The stock market took a “show me” attitude to Safeway's fourth-quarter financial results last week — driving the share price down in an apparent demonstration of dissatisfaction that the company's price investments have not shown up strongly enough on the top line, analysts told SN.

While earnings were up 12.3% to $338 million for the fourth quarter, which ended Jan. 3, sales rose 3.4% to $13.8 billion for the 17-week quarter and comparable-store sal

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