"By the end of the year, we will have 1,286 stores in that format," said Steve Burd, chairman, president and CEO. "Seventy-six percent of our stores will have gone through a major transformation in just four years."
The company's experimental 15,000-sf Market store in Long Beach, CA., which has a high proportion of fresh and prepared foods, may or may not be expanded. The unit opened in May. "We've learned a lot about what might be possible in a conventional store," Burd said.
Total sales increased 3.9% from the same period in 2007 to $10.2 billion. Identical-store sales increased 2.8% including fuel, and 0.5% excluding fuel. The company reported a net income of $199.7 million, compared to net income of $194.6 million for the third quarter of 2007. Safeway operates 1,738 stores in the US and Canada.
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