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Safeway to dispose of Dominick’s stores and exit Chicago market
Pleasanton, Calif. -- Safeway Inc. announced it plans to get rid of its 72 Dominick's stores in the Chicago area, exiting the market in early 2014.
Safeway’s decision comes after Dominick's had a net loss of $8.4 million for the third quarter, ended Sept. 7, compared with a loss of $6.2 million in the year-ago period, and a net loss of $21.5 million for the year to date, compared with $16.8 million for the year- ago period.
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Safeway dumps Dominick's after Q3 profit swoon
Safeway plans to exit the Chicago market where it operates 72 supermarkets under the Dominick’s banner by early 2014 after posting third quarter profits that were roughly half those of the comparable period the prior year.
The decision to exit Chicago follows similar move earlier this year when Safeway announced the sale of its Canadian operations.