Safeway said that its third quarter earnings were down 35 percent to $128.8 million, from $199.7 million during the same period a year earlier. Q3 revenue was down seven percent to $9.46 billion.
CEO Steve Burd told analysts yesterday that he believes the economy is improving, which should be good for Safeway, because customers are starting to buy more lattes and premium wines; when the recession started, he said, people switched to regular coffee and cheaper vintages.
CEO Steve Burd told analysts yesterday that he believes the economy is improving, which should be good for Safeway, because customers are starting to buy more lattes and premium wines; when the recession started, he said, people switched to regular coffee and cheaper vintages.
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