Safeway shaves away $871 million in debt
Oct 16, 2003 12:00 PM, from staff and wire reports
Safeway Inc, the Pleasanton CA-based grocery retailer, has reduced total outstanding debt by $871 million to $7.46 billion from $8.33 billion at the beginning of 2003.The firm's net income for the third quarter of 2003 was $202.5 million ($0.45 per share), compared with net income of $281.3 million ($0.60 per share) for third-quarter 2002.
For the first 36 weeks of 2003, sales rose 3% to $23.1 billion from $22.4 billion in 2002.
