UK: Safeway - a leader in the making, perhaps - COMMENT (Members)
UK supermarket Safeway has reported its eighth consecutive increase in quarterly sales above 5%. Like-for-like sales increased 5.4% in the 16 weeks to October 13. Safeway has cited new customer attraction and rising average spend as the reasons for its performance. Despite some analyst pessimism over the solidity of these results, if this performance continues, Safeway's rivals will have cause for concern.
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