PLEASANTON, CA-Safeway Inc. has for the past two quarters been cutting under-performing aspects of its national grocery retail business under a new CEO, but recent indications are that it isn't done yet.

Robert Edwards took over the Pleasanton-based company last year, and sold the Safeway Canada division for nearly $6 billion. At the same time, Safeway began exiting the difficult Chicago market, shutting down its Dominick's operations by selling the 70-plus stores individually.

But speculation continues about the possibility that the company will be acquired or taken private, according to the San Francisco Business Times. Competition from broader focused retailers like Walmart and Target, along with rival grocers has not made it easy for Safeway to right itself.