Safeway to Close 12 Dominick's Stores
PLEASANTON, Calif. - Safeway, Inc. said it would close 12 of its underperforming Dominick's stores in the Chicago area in a move that will result in a 2004 first-quarter pre-tax charge of $50 million to $55 million, Reuters reports.
The company said the elimination of operating losses from the closed stores would aid earnings immediately. Analysts currently expect Safeway to report profit of 43 cents a share for the first quarter of 2004, according to Reuters Research.
The company said the elimination of operating losses from the closed stores would aid earnings immediately. Analysts currently expect Safeway to report profit of 43 cents a share for the first quarter of 2004, according to Reuters Research.