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SAFEWAY ANNOUNCES THIRD QUARTER TRENDS

 SAFEWAY ANNOUNCES THIRD QUARTER TRENDS
 Oakland, Calif., Aug. 25 /PRNewswire/ -- Safeway Inc. (NYSE: SWY)


announced today that based on current trends it expects net income for the third quarter ending Sept. 5, 1992, will be about one half of the 1991 third quarter net income before 1991's one-time gains and extraordinary items. Net income for the third quarter of 1991 was $36.1 million, excluding the effect of a $12.7 million extraordinary loss related to the early retirement of debt and a one-time, after tax gain of $16.9 million related to the gain on a common stock offering by an unconsolidated affiliate.
 Expected results for the third quarter of 1992 reflect continuing pressure on sales due to food price deflation (particularly in perishable foods), a weak economy and increased competition in certain markets, and more recently, margin pressures related to startup costs at Safeway's new $120 million distribution center in Tracy, Calif.
 -0- 8/25/92
 /CONTACT: Melissa C. Plaisance of Safeway, 510-891-3136/
 (SWY) CO: Safeway Inc. ST: California IN: REA SU:


KF-DG -- SF007 -- 3197 08/25/92 17:12 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
Words:183
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