Sluggish 1Q For Safeway
Safeway Inc. (NYSE:SWY) reported EPS of 30 cents in the first quarter of fiscal 2012, in line with the Zacks Consensus Estimate. Quarterly earnings, however, were well above the year-ago level of 7 cents, which included a tax charge of 22 cents per share related to the repatriation of $1.1 billion from Safeway’s Canadian subsidiary. [...]
Safeway Inc. (NYSE:SWY) reported EPS of 30 cents in the first quarter of fiscal 2012, in line with the Zacks Consensus Estimate. Quarterly earnings, however, were well above the year-ago level of 7 cents, which included a tax charge of 22 cents per share related to the repatriation of $1.1 billion from Safeway’s Canadian subsidiary.
Despite the New Year’s holiday shift, weather patterns and high gasoline prices leading to sluggish sales, several cost reduction initiatives during the quarter helped … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards