Safeway, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Safeway, Inc. (NYSE:SWY) will unveil its latest earnings on Thursday, October 13, 2011. Safeway is a retail supermarket chain in North America. As a food and drug retailer, the company, with its subsidiaries, operates stores that offer a range of grocery products, general merchandise and specialty departments like pharmacies and coffee shops. It also owns and operates distribution, manufacturing and food-processing facilities.

Safeway, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 35 cents per share, no change from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 37 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 36 cents during the last month. For the year, analysts are projecting profit of $1.69 per share, a rise of 7.6% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 2 cents, reporting net income of 41 cents per share against a mean estimate of profit of 39 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 4.7% in revenue from the year-earlier quarter to $9.84 billion.

Analyst Ratings: The stock has a mean recommendation of hold.

A Look Back: In the second quarter, profit rose 3.2% to $145.8 million (41 cents a share) from $141.3 million (37 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 7.1% to $10.2 billion from $9.52 billion.

Key Stats:

Revenue has gone up for three straight quarters. It rose 4.8% in the first quarter from the year earlier and 0.9% in the fourth quarter of the last fiscal year.

Competitors to Watch: The Kroger Co. (NYSE:KR), Whole Foods Market, Inc. (NASDAQ:WFM), SUPERVALU INC. (NYSE:SVU), Winn-Dixie Stores, Inc. (NASDAQ:WINN), The Fresh Market Inc (NASDAQ:TFM), Arden Group, Inc. (NASDAQ:ARDNA), Ingles Markets, Inc. (NASDAQ:IMKTA), Ruddick Corporation (NYSE:RDK), and Weis Markets, Inc. (NYSE:WMK).

Stock Price Performance: During July 15, 2011 to October 10, 2011, the stock price had fallen $5.99 (-25.4%) from $23.56 to $17.57. The stock price saw one of its best stretches over the last year between February 4, 2011 and February 17, 2011 when shares rose for 10-straight days, rising 6.8% (+$1.40) over that span. It saw one of its worst periods between July 19, 2011 and July 28, 2011 when shares fell for eight-straight days, falling 16.6% (-$3.97) over that span. Shares are down $4.48 (-20.3%) year to date.

(Source: Xignite Financials)

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