Safeway net income drops in Q3

Pleasanton, Calif. Safeway reported Thursday that net income for the third quarter decreased to $122.8 million, compared with net income of $128.8 million in the year-ago period.

Revenue dipped to $9.4 billion in the quarter, from $9.5 billion in third quarter 2009. Same-store sales decreased 2%.

The grocer operates 1,702 stores in the United States and Canada.