Safeway’s Net Income Falls on High Fuel Costs, Food Inflation

Higher fuel prices squeezed shoppers' wallets as well as Safeway's fourth-quarter net income, which fell to $215.6 million from $229.6 million a year earlier, Reuters said. The company's sales rose 6.2 percent to $13.6 billion including a 1.5 percent increase in same-store sales, the story said.

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