“Safeway’s sales remained soft, driven largely by deflation in dairy, produce and meat, and a sluggish economy,” said Steve Burd, chairman, president and CEO. “However, we’re encouraged that our household and transaction counts increased in the quarter, and that volume trends continue to improve. In addition, our year-to-date free cash flow of $865m is up $366m, or 73%, over last year.
“In this difficult economy, we are working diligently to lower costs and meet the needs of our customers with high-quality products, lower everyday prices and attractive club card specials.”
Source: Safeway
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