- Safeway Inc. today reported income from continuing operations of $203.3 million for the third quarter ended September 6, 2003, down from 2002's third quarter income of $280.9 million.
Third-quarter 2003 comparable store sales increased 0.8% while identical store sales (which exclude replacement stores) rose 0.2%. Excluding the effect of fuel sales, comparable store sales declined 0.9% and identical store sales declined 1.5%. Sales were impacted by continued softness in the economy. Total sales increased to $7.8 billion from $7.5 billion in the third quarter of 2002, primarily due to new store openings and additional fuel sales.
- Kraft Foods announced that third-quarter operating income dropped 9.6 percent, to $1.4 billion, and net earnings fell six percent to $810 million, from $869 million in the year-ago quarter.
Though total sales rose 3.7 percent to $7.48 billion in the quarter, shipment volumes fell 0.2 percent.
- Coca-Cola reported third quarter earnings of $1.22 billion, compared with a profit of $1.09 billion in the same period a year ago.
Revenue rose to $5.66 billion from $5.32 billion for the year-ago quarter.
