Safeway (SWY) announced that net income increased by 21 percent in the third quarter, which was boosted by the sale of its Genuardi's stores. The company earned $157 million, or 66 cents per share versus $130.2 million, or 38 cents per share in the same period last year. Excluding operations that are discontinued, the company earned 45 cents per share, beating the 43 cents that analysts had expected. Same store sales increased by 0.1 percent, while gross profit declined due to costs incurred due to its new loyalty program.
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