Safeway Sales Strong, but Inflation Tempers Earnings

While lifestyle stores continue to generate strong sales gains for Safeway, the retailer here said product price inflation slowed quarterly earnings and is clouding the outlook for the second half of the year.

PLEASANTON, Calif. — While lifestyle stores continue to generate strong sales gains for Safeway here, the retailer here said product price inflation slowed quarterly earnings and is clouding the outlook for the second half of the year. “As good as we feel about the back half of the year, we think there is enough inflation and worry out there that we just want to be a little cautious,” Steve Burd, chairman, president and chief executive officer of Safeway, said in a conference call Thursday, e

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