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Safeway Credits Open Nature, Other Factors for Profit Boost

October 13, 2011
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Pleasanton, Calif.-based Safeway credited its Open Nature private label line among other factors that helped its third-quarter earnings rise 6 percent.


Pleasanton, Calif.-based Safeway credited its Open Nature private label line among other factors that helped its third-quarter earnings rise 6 percent.
 
Safeway has done extensive marketing of its Open Nature line including a contest to find America’s Most Natural City, a cross-country road trip passing out samples and by setting a world record for the longest picnic table.
 
“Our sales momentum continued to build in the third quarter, and our costs were well controlled,” said Steve Burd, chairman, president and CEO in a statement. “At the same time, we continued to innovate throughout the business to meet our customers’ needs and build their loyalty. Our just for U digital marketing platform and our proprietary Open Nature line of 100 percent natural foods are good examples of these efforts.”
 
Safeway reports net earnings for the third quarter of $130.2 million compared with net earnings of $122.8 million in the same quarter last year.
 
Total sales for the quarter rose to $10.9 billion in the third quarter of FY 2011 compared with $9.4 billion for the same period last year.
 

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