Safeway forecasts growth in profit
From Times Wire Services
Vons parent Safeway Inc. said profit might grow next year on new product lines and increased sales at its remodeled stores.
Earnings will be $2.25 to $2.35 a share, the Pleasanton, Calif.-based supermarket company said. That compares with the $2.27 average estimate of analysts surveyed by Bloomberg. Identical-store sales, excluding gasoline, may grow as much as 3.2%, Safeway said. Identical-store sales are sales at stores open at least five quarters.
Safeway shares rose $1.06, or 3.1%, to $35.50.
