Safeway Shares Slide on Q2 Results

PLEASANTON, Calif. — Safeway's stock fell more than 9% Thursday after the retailer posted a 0.5% gain in second-quarter sales, excluding gas, and a decline in gross margins.

PLEASANTON, Calif. — Safeway's stock fell more than 9% Thursday after the retailer posted a 0.5% gain in second-quarter sales, excluding gas, and a decline in gross margins.

For the 12-week quarter, net income rose 3.2% to $145.8 million — due primarily to efforts to reduce costs, the company said — while sales increased 7.1% to $10.2 billion, due primarily to higher fuel sales and improved Canadian exchange rat

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