Safeway Stores: The Oakland-based supermarket chain said...

Safeway Stores: The Oakland-based supermarket chain said second-quarter net income plunged 82% to $7.6 million while revenue rose 4.4% to $3.3 billion. Results reflect after-tax gains of $27.2 million on the sale of hundreds of Safeway stores. Since a $4.2-billion leveraged buyout in late 1986, the chain has sold more than half its stores that once numbered 2,325 and now stand at 1,125. Safeway said operating profits from its remaining stores rose 8.9% to $105.9 million.