date:Jun 14, 2013
it, he added.
Cantor Fitzgerald analyst Ajay Jain said the deal would help deleverage Safeway's balance sheet but was no cure-all.
We expect that after the dust settles following the latest announcement, Safeway will remain heavily levered and profitability of U.S. operations will continue to decline.
Under Review
Empire, which has been in the food business for over a century, already owns some 1,500 stores in 10 provinces with retail banners that include Sobeys, IGA, Foodland, FreshCo, Pric