Safeway reports fiscal results
Mar 1, 2003 12:00 PM
Safeway Inc has reported a loss from continuing operations of $344.8 million for the fourth quarter ended Dec 28, 2002.
During fourth-quarter 2002, Safeway performed its annual review of goodwill for impairment in accordance with SFAS #142. Excluding the effect of a non-cash $704.2-million goodwill impairment charge for Randall's, fourth-quarter 2002 income from continuing operations was $359.4 million. Income from continuing operations for the fourth quarter of 2001 was $363.7 million.
Results for the fourth quarter of 2001 include goodwill amortization of $31.4 million.
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