Safeway Says Initiatives Will Sustain Earnings Growth

SAN FRANCISCO - Safeway believes it can sustain earnings growth of 12% to 15% over the next few years through a combination of ongoing lifestyle store development, the possibility of developing new formats, making acquisitions in new markets and growing its third-party gift card marketing business, Steve Burd, chairman, president and chief executive officer of the Pleasanton, Calif.-based chain, said here yesterday at the company's annual investors conference.

SAN FRANCISCO - Safeway believes it can sustain earnings growth of 12% to 15% over the next few years through a combination of ongoing lifestyle store development, the possibility of developing new formats, making acquisitions in new markets and growing its third-party gift card marketing business, Steve Burd, chairman, president and chief executive officer of the Pleasanton, Calif.-based chain, said here yesterday at the company's annual investors conference. "You might ask how one of

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