North American retailer Safeway reports drop in Q2 profits
date:Jul 22, 2013
2012.

Identical-store sales increased 1.2%, excluding fuel. Income from continuing operations was $58.1m. Gross profit grew 29 basis points to 26.23% of sales. Operating profit margin increased two basis points from last year to 1.59%.

For the 24 week period ended 15 June 2013, net income amounted $127.3m, compared to $195.6m in the same period last year.

Sales and other revenue declined 0.8% to $17.2bn in the first 24 weeks of 2013, from $17.3bn in the first 24 weeks of 2012. Income from con
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