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Safeway Rolling Out New Concept

PLEASANTON, CA-The grocer will debut its new stores in the first half of the year and continues to push its 'lifestyle' focus.

By Debra Hazel | Updated on February 22, 2008

PLEASANTON, CA-Though remaining tightlipped about details, Safeway executives said that a new concept will make a debut soon, even at it continues to grow and remodel units into its Lifestyle concept. “Something new will come out of the ground in the first half of the year,” said Steve Burd, chairman, president, and CEO.

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.

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