News Summary: Safeway 4Q profit jumps 13 percent
News Summary: Safeway 4th-quarter results jump, helped by loyalty program
THE NEWS: Grocery store operator Safeway said Thursday its net income jumped 13 percent in the fourth quarter. Revenue edged up 1 percent to $13.77 billion.
THE CONTEXT: Results beat expectations and shares rose. The Pleasanton, Calif.-based grocer said its "Just for U" customer loyalty program, which offers personalized discounts based on past purchases, is driving market share gains and profits.
WHAT'S NEXT: Safeway will give financial guidance on March 6.
