date:Apr 25, 2014
Safeway has posted a net loss for the first quarter because of higher costs and acquisition expenses.
The grocery-store chain is being acquired by an investment group in a deal worth about $7.64 billion. The deal, which combines Safeway and Albertsons, is expected to close in the fourth quarter.
Safeway and other grocery store operators have been trying to adapt to a changing supermarket industry, with people increasingly doing their shopping at big-box stores like Target, drug stores and even