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Safeway Q1 profit up
Pleasanton, Calif. -- Safeway Inc. on Thursday said it earned $118.9 million, in the first quarter ended March 23, up from $72.9 million a year earlier, helped by tax benefits. The company maintained its forecast for the year.
Net sales inched down to $9.99 billion, from $10 billion a year ago, as the company sold its Genuardi’s division. Same-store sales rose 1.5%. -
Douglas Development acquired mixed-use building
Washington, D.C. -- Douglas Development announced that it has purchased a new mixed-use property in Chinatown DC. The 10,000-sq.-ft. building includes three levels of office space and 4,000 sq. ft. of street-level retail.
Douglas Development acquired the property from Washington, D.C.-based law firm Wingfield & Ginsburg, which has since leased back all of the office space from Douglas Development.