In addition, the company expects open 20 to 25 new "Lifestyle" stores and complete 250 to 255 Lifestyle remodels, they noted at the company's fourth quarter conference call. Last year, the company opened 20 new Lifestyle stores, completed 253 Lifestyle remodels and closed 38 stores.

For the quarter, total sales rose 6.8% from the previous year to $13.4 billion. Excluding fuel, identical-store sales increased 2.7%. Net income was $301.1 million, compared with earnings of $307.9 million the previous year.

For the year, sales were $42.3 billion, up 5.2% from 2006. Identical-store sales, excluding fuel, increased 3.4%. Net income was $888.4 million, compared with $870.6 million in 2006.

Safeway operates 1,743 stores in the United States and Canada.

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