- Safeway Inc., the third ranked US grocer, posted a large fourth-quarter net loss of $1.1 billion, versus net income of $353.6 million during the same period a year ago. The company blamed higher business costs and the expenses involved with trying to sell of its Chicago-based Dominick's division.
Total quarterly sales increased to $10.0 billion from $9.9 billion, due mostly to new store openings. Same-store sales dropped 1.9 percent for the quarter.
- Target Corporation reported that net retail sales for the four weeks ended February 1, 2003 increased 7.7 percent to $2.738 billion from $2.543 billion for the four-week period ended February 2, 2002. Comparable-store sales decreased 0.4 percent from January 2002.
- BJ's Wholesale Club reported that its January same-store sales rose 5.6 percent. Total sales in the four weeks ended Feb 1 rose 15.5 percent to $416.0 million at its stores open at least a year.
- Family Dollar Stores reported that sales for the four week period ended February 1, 2003, reached $302.1 million, or 15.4 percent above sales of $261.8 million for the similar period in the prior fiscal year. Same-store sales were up 4.7 percent for the period.
For the twenty-two week period ended February 1, 2003, sales were approximately $2,010.0 million, or 13.5 percent above sales of $1,770.3 million for the similar period in the prior fiscal year. Same-store sales for the 22 weeks were up about three percent.
- Dollar General Corp. posted a lower-than expected 3.8 percent rise in January same-store sales, with total sales for the four-week period ended Jan. 31 reaching $429.9 million, up 12.7 percent from the same period a year ago.
