Supermarket chain Safeway has reported net income of $134.0m for the second quarter ended 18 June 2005 compared to $155.2m for the second quarter of the previous year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Total sales increased to $8.8bn from $8.4bn in the previous year’s second quarter. Safeway’s marketing strategies and the recovery from last year’s strike in Southern California drove this sales increase, the company said. However, a shift in Easter holiday sales, which occurred in the second quarter of last year compared to the first quarter of this year, reduced the sales increase.
“Our strategy to differentiate our offering has resulted in broad-based sales improvement,” said Steve Burd, chairman, president and CEO. “Consumers have responded enthusiastically to the improved quality of our perishables, to our proprietary brands, to the greater everyday value we have brought to the centre of our store, and to our Lifestyle stores. We have improved non-fuel identical store sales eight of the last ten quarters and experienced two consecutive quarters of markedly positive non-fuel identical store sales, which we believe confirms the strategy is working.”
Comparable store sales increased 3.3% and identical store sales (which exclude replacement stores) increased 2.8% for the second quarter of 2005. Further, excluding the effect of fuel sales, identical store sales increased 1.4%. When adjusted for the Easter holiday, non-fuel identical store sales increased 2.6%.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
