News Summary: Safeway 4Q profit jumps 13 percent

AP News
Posted: Feb 21, 2013 11:08 AM

THE NEWS: Grocery store operator Safeway said Thursday its net income jumped 13 percent in the fourth quarter. Revenue edged up 1 percent to $13.77 billion.

THE CONTEXT: Results beat expectations and shares rose. The Pleasanton, Calif.-based grocer said its "Just for U" customer loyalty program, which offers personalized discounts based on past purchases, is driving market share gains and profits.

Hold The Damn Vote Already
Derek Hunter

WHAT'S NEXT: Safeway will give financial guidance on March 6.