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Report: SuperValu to open 160 Save-A-Lot stores in 2011
New York City -- SuperValu plans to increase the footprint of its value division Save-A-Lot by 160 new stores this year, GlobeSt.com reported.
“This past year we added 92 net Save-A-Lot stores, and this fiscal year we’re looking to add another 160 net stores,” a spokesman said in the report. -
Safeway Q1 profit falls on tax charge
Pleasanton, Calif. -- Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.
The company earned $25.1 million for the quarter, compared with $96 million a year earlier. This includes a tax charge related to a plan to pay down its U.S. debt with part of a $1.1 billion dividend in cash and debt from its Canadian operations.