date:Apr 27, 2013
North America-based food and drug retailer Safeway reported a 63% surge in profits for the first quarter ended 23 March 2013, aided by a tax benefit.
Safeway's first-quarter net income was $118.9m, up from $72.9m in the year-ago period.
However, sales and other revenue for the quarter ended 23 March 2013 edged down to $9.99bn from $10bn in the year-ago period.
Safeway has attributed the drop in sales to lower fuel sales and the sale of its Genuardi's stores.
Identical-store sales increased 1