Safeway shaves away $871 million in debt

Safeway Inc, the Pleasanton CA-based grocery retailer, has reduced total outstanding debt by $871 million to $7.46 billion from $8.33 billion at the beginning of 2003.

The firm's net income for the third quarter of 2003 was $202.5 million ($0.45 per share), compared with net income of $281.3 million ($0.60 per share) for third-quarter 2002. For the first 36 weeks of 2003, sales rose 3% to $23.1 billion from $22.4 billion in 2002.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish