News Brief

Safeway Posts $1.6 Billion Loss

Feb 25, 2010, 1:56 PM
  • Comment
  • Recommend (1)
Subscribe to Marketing Daily
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

Be the first to comment on "Safeway Posts $1.6 Billion Loss "

Leave a Comment

Sign in to leave a comment. Don't have an account? Join Now

Recent Marketing Daily Articles

>> Marketing Daily Archives