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Safeway profit slides as grocer prepares for merger
date:May 05, 2014
xas -- states where each chain has a large footprint and both are top competitors.

Safeway shareholders will receive about $40 a share as part of the merger agreement.

Safeway said it was also hit with inflation in the first quarter, primarily in produce, meat and pharmacy products. Beef prices have hit an all-time high in the U.S., and the crippling drought in California has been blamed for the higher cost of some vegetables and fruit.

We expect to pass along most of the inflation we are exp

12/25 01:16