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Von's parent company in talks over possible sale of company

Posted: February 19, 2014 3:30 p.m.
Updated: February 19, 2014 3:30 p.m.
 

NEW YORK (AP) — Safeway says it's in talks to possibly put itself up for sale.

The Pleasanton, Calif.-based supermarket operator says that discussions are ongoing but that it hasn't yet reached an agreement. It added that it isn't certain that the talks will end in a deal.

Locally, Safeway operates the Vons grocery store chain.

The company, which has more than 1,300 U.S. locations, says it's postponing its investor conference that had been scheduled for early March.

For the fourth quarter, Safeway earned $100 million, or 35 cents per share, from continuing operations. Excluding one-time items, it earned 53 cents per share, above the 47 cents per share Wall Street expected.

A year earlier, it earned $170.7 million, or 71 cents per share.

Revenue was $11.31 billion, short of the $11.49 billion analysts expected.

Shares jumped 4 percent in late trading.

Comments

ruth: Posted: February 20, 2014 6:05 a.m.

Maybe Stater Bros. should buy them and turn the chain into a more reasonably priced operation.



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