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Safeway Q2 net income and sales decline
Pleasanton, Calif. – Safeway reported a substantial decline in net income for the second quarter of fiscal 2013 as well as a drop in sales. Adjusted net income for the quarter was $8.4 million, compared to $122.7 million in the same quarter a year earlier. However, after adjusting for various legal expenses and loss from discontinued operations, net income for the quarter would have been $125.1 million.
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99 Cents Only opens new stores
City of Commerce, Calif. – 99 Cents Only Stores is opening new stores in Santa Fe Springs, Calif. and Kingman, Ariz. on July 25. Both will be the first 99 Cents Only stores in those municipalities.
The retailer will be offering special 99-cent deals on items such as flat-screen TVs and scooters to the first customers in line on opening day.