News Brief
Safeway Posts $1.6 Billion Loss
Feb 25, 2010, 1:56 PM
Safeway Inc. says it had a net loss of $1.61 billion for its fourth quarter, primarily due to a one-time goodwill impairment charge of $1.82 billion, related to the weak economy and two acquisitions. But even without the charge, net income would have been $209.1 million, down from $338 million in the same period a year ago.
Sales at the Pleasanton, Calif.-based chain dropped 8.1% to $12.7 billion, down from $13.8 billion in the fourth quarter of 2008.--Sarah Mahoney
Recent Marketing Daily Articles
-
Cricket Makes More From Less May 22, 4 p.m.
Pre-paid wireless carrier Cricket Communications is taking direct aim at customers of the larger, post-paid companies ... -
Seattle's Best Promos New Drive-Thru Format May 22, 3:43 p.m.
Seattle’s Best Coffee has simultaneously opened 10 “drive-thrus” in the Dallas/Fort Worth area. This marks the ... -
Balance Bar Unveils 1st National TV Ads In 10+ Years May 22, 6:26 a.m.
Balance Bar -- one of America’s first nutrition/energy bar products (launched in 1992) -- is looking ... -
Crowne Plaza Measures PGA Tour Sleep Habits May 21, 11:21 p.m.
Just in time for the Crowne Plaza Invitational at Colonial tournament this week, Crowne Plaza Hotels ... -
Dodge Goes Social With 'Defiance' May 21, 4:44 p.m.
Chrysler LLC's Dodge, which has category-exclusive sponsorship of the "Defiance" TV show and online game for ... -
Microsoft Unveils Xbox One May 21, 2:34 p.m.
For a presentation that was obstensibly about a new gaming console, Microsoft’s unveiling of its next-generation ... -
Telematics Ecosystem Booming, But Caution Advised May 21, 2:05 p.m.
The head of marketing for, say, Starbucks, is probably thinking about cars. Specifically, how to go ... -
Sony Touts Ultra High-Definition TVs May 21, 12:19 p.m.
We’ve been through the HDTV era and the 3DTV era -- now get ready for the ... -
Destination XL's Pixelated Privates Cause Controversy May 21, 11:03 a.m.
Specialty retailer Destination XL is Super Sizing itself, and not everyone is comfortable with its frank ... -
Skyy Launches 'Be Part Of The Art' May 21, 5:57 a.m.
To support the debut of its new Skyy Infusions Moscato Grape variety, Skyy Vodka has launched ...
Be the first to comment on "Safeway Posts $1.6 Billion Loss "
Leave a Comment