PLEASANTON, Calif.—Safeway says its second-quarter profit rose to slightly beat Wall Street expectations as sales from its Lifestyle format stores lifted results.
The Pleasanton, Calif.-based grocery-store operator says profit rose to $234.3 million, or 53 cents per share, from $218.2 million, or 49 cents per share, in the year-ago quarter.
Analysts polled by Thomson Financial expected a profit of 52 cents per share.
Revenue rose 3 percent to $10.12 billion from $9.82 billion. Analysts expected sales of $10.25 billion.
Safeway said contributions from its Lifestyle stores, higher fuel sales and a stronger Canadian dollar helped results during the quarter.
Safeway operates more than 1,700 stores in the U.S. and Canada, including at least 120 in Colorado.
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