Britain’s fourth-largest supermarket group Safeway saw its rating downgraded from “neutral” to “underperform” at investment bank Schroder Salomon Smith Barney (SSSB) today [Wednesday].

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SSSB analysts explained that there was some concern over slowing sales at the retailer.


The bank also dropped its price target on Safeway shares from 310p to 180p, to reflect recent falls in equity markets.

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