Safeway Slips To Loss In Q1 - Quick Facts

(RTTNews) - Safeway Inc. (SWY) Wednesday reported first-quarter net loss attributable to the company of $76.5 million or $0.34 per share, compared to net income of $118.9 million or $0.49 per share in the same period last year.

Loss from continuing operations totaled $83.1 million or $0.36 per share, compared to net income o of $59.7 million or $0.25 per share last year. Fourth-quarter profit included a gain of $3.23 billion or $13.11 per share from discontinued operations.

Adjusted earnings for the quarter were $0.06 per share. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Sales and other revenues amounted to $8.26 billion, up from $8.18 billion last year. Analysts expected sales of $8.24 billion.