Friday, April 25, 2008

Safeway Reports Big Earnings

By Chris Thompson
Fri, Apr 25, 2008 at 6:52 AM

Pleasanton-based retailer Safeway has reported a seven percent jump in earnings since the same period last year, the East Bay Business Times reports. For years, the company has flailed about as Wal-Mart supercenters eat into its share of the market, and execs triggered an ugly labor dispute when they tried to roll back health benefits for their baggers and checkers. But it looks like things have stablized for now. Company officials claim that a key ingredient to their success was lowering prices to remain competitive, but we can't help wondering if the spike in global food prices had something to do with it.

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