Food retailer Safeway Inc. reported a first-quarter...

Food retailer Safeway Inc. reported a first-quarter loss of $4.9 million, due largely to the costs of retiring debt from its 1986 leveraged buyout.

The loss, which amounted to 4 cents per share, contrasted with earnings of $26.7 million, or 26 cents per share, in the same period a year earlier.

Sales for the quarter ended March 21 were flat at $3.4 billion, the same as the first quarter of 1991. The company reported operating profit of $102 million in the quarter, down from $122.8 million.

Earnings, D7