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Safeway Reports Lower Income, Slightly Higher Sales In Second Quarter 2012

July 19, 2012: 12:00 AM EST
Safeway Inc. reported its income from continuing operations fell to $121.7 million for the second quarter of 2012 from $146.0 million in the second quarter of the previous year. Sales and other revenue rose 1.9 percent to $10.4 billion from $10.2 billion, due to increased fuel sales and a 0.8 percent increase in same-store sales. Gross profit dropped 73 basis points to 26.27 percent of sales from 27.0 percent of sales in the previous year. The company said operating and administrative expense decreased to 23.89 percent of sales from 24.28 percent of sales in 2011.
"Safeway Inc. Announces Second Quarter 2012 Results", Safeway Inc., July 19, 2012, © Safeway Inc
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