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November 24, 2009

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Profit improves for owner of Vons grocery stores

Wednesday, Oct. 4, 2000 | 11:32 a.m.

PLEASANTON, Calif. -- Safeway Inc., owner of Vons markets in Las Vegas and the nation's third-largest supermarket chain, said fiscal third quarter profits rose 21 percent as acquisitions helped it boost sales and cut costs.

Net income rose to $270 million or 53 cents a share from $223.4 million or 44 cents in the year-ago quarter. Sales rose 15 percent to $7.46 billion.

But Safeway cut its forecast for fourth-quarter identical-store sales and failed to meet some analysts' estimates for sales this quarter.

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