Lower-Cost Positioning Pays Off Big For Safeway

  • February 26, 2009
While many supermarkets are struggling, as the weak economy sends shoppers scurrying to supercenters and warehouse clubs, Safeway says its emphasis on lower prices is paying off.

Net income for the Pleasanton, Calif.-based chain jumped 16% to $338 million, while sales gained 3.4% to $13.8 billion.

"We are stepping up our efforts to provide increased value to our customers by lowering prices on everyday items, while continuing to provide quality perishables and great service," executives say in their earnings release.--Sarah Mahoney

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