USA: Positive Q3 results for Safeway
Positive Q3 results have been posted by US retail giant Safeway Inc, revealing that earnings rose by 21% and net income rose to US$270m, up from the US$223.4m grossed in the third quarter of 1999. The 15% increase in sales, which reached US$7.5bn, was boosted by strong store operations and last year's acquisition of Randall's Food Markets Inc. Estimates reported by analysts First Call/Thomson Financial were beaten by one cent per share, but on the NYSE however, shares fell from their 52-week high by 6.9%, to be valued at US$50.38.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- The food market in 2017 - consumer trends and M&A
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target