Britain's Safeway Reports Strong Second-quarter Sales
LONDON - Britain's Safeway Plc reported strong second quarter sales on Thursday with like-for-like sales rising 5.4 percent, keeping the country's fourth biggest food retailer in the running among its top competitors.
UK food retailers have fared well during strong demand and price inflation, but many analysts think this won't last as the UK economy falters, Reuters reported.
Safeway Finance Director Simon Laffin told Reuters he saw no sign of a slowdown so far, and forecast sales growth of between four and six percent in the firm's second half.
Safeway, which has roots in its American cousin of the same name, operates around 500 supermarkets across the UK. The company has been one of the industry's recovery stories in the past 18 months, under the stewardship of former Wal-Mart executive Carlos Criado-Perez.
UK food retailers have fared well during strong demand and price inflation, but many analysts think this won't last as the UK economy falters, Reuters reported.
Safeway Finance Director Simon Laffin told Reuters he saw no sign of a slowdown so far, and forecast sales growth of between four and six percent in the firm's second half.
Safeway, which has roots in its American cousin of the same name, operates around 500 supermarkets across the UK. The company has been one of the industry's recovery stories in the past 18 months, under the stewardship of former Wal-Mart executive Carlos Criado-Perez.