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Monday, Jan 30, 2023
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Safeway’s Second Quarter Profit Falls

Safeway Inc.’s second-quarter profit dropped 14 percent as higher gasoline prices and the costs of an ambitious makeover offset an uptick in sales at the big grocer.


The Pleasanton-based company said Tuesday that it earned $134 million (30 cents per diluted share) for the second quarter ended June 18, down from $155.2 million (35 cents) from the comparable period a year earlier. Revenue rose 4.7 percent to $8.8 billion, from $8.4 billion last year.


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Read the full Associated Press story

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