date:May 05, 2014
company lost almost $77 million during the three months ending March 22. This compares with a gain of $119 million for the same period a year ago. Sales rose 1 percent to $8.3 billion.
The consolidation of the company has primed Safeway for its merger with Albertsons, which is expected to be complete by the end of the year. The merger is part of an estimated $9.4 billion deal orchestrated by New York private equity firm Cerberus.
Executives at Safeway canceled the usual conference calls with i