Mixed Bag of Results for Tuesday
Pleasanton, Calif., •Safeway Inc. posted net income of $134 million for its second quarter, ending June 18, down from $155.2 million in the same quarter a year ago. Revenues increased 4.7% to $8.8 billion on same-store sales growth of 3.3%.
• 7-Eleven Inc. reported net earnings of $57.2 million in its second quarter ended June 30, up from $47 million in the year-ago period. Total revenues grew 9.1% to $3.4 billion in the quarter, driven by 5% growth in same-store merchandise sales.
• Mothers Work Inc. reported net income of $5.5 million for its third quarter, down from $6.8 million in the year-ago period. The decline came despite a 9.4% improvement in sales to $152.7 million. Same-store sales fell 1.9%.