<p><strong>Pleasanton, CA</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Safeway Inc. has reported it first quarter results for 2012. The company revealed income from continuing operations of $81.6 million or $0.30 per diluted share for the first quarter of 2012 compared to $25.1 million or $0.07 per diluted share for the similar quarter last year. The 2011 first quarter included an $80.2 million tax charge or $0.22 per diluted share that came from the decision to repatriate $1.1 billion from Safeway's wholly-owned Canadian subsidiary.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Sales and Other Revenue Although identical-store sales were fairly even, according to a press release. The numbers revealed that total sales increased 2.4% to $10.0 billion in the first quarter of 2012 from $9.8 billion in the comparable quarter of 2011. This was principally due to higher fuel sales, higher revenue from Blackhawk and additional sales from new stores.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Steve Burd, Chairman and CEO, stated, "Strong cost controls helped us meet earnings expectations despite a shift in the New Year's holiday, weather patterns and high gasoline prices which dampened sales." Mr. Burd, continues, "In addition, operating profit in the quarter would have been essentially the same as last year without the holiday shift. In the last eight weeks, identical-store sales have been running at 1%, and we continue to believe sales will grow as our new marketing initiatives take hold."</p><hr class="legacyRuler"><hr class="invisible minimal-padding">
