Safeway Announces 2009 Guidance; Free Cash Flow to Grow (SWY)
Grocery store operator Safeway (SWY) is holding analyst meetings today, and in conjunction have put out fiscal 2009 guidance of $2.34 - $2.44 EPS, versus Reuters estimates for $2.37.
Capex will be heading lower by $400 million to $1.2 billion in 2009, and thanks to prior cost-cutting efforts, free cash flow should nearly double to $1 [...]
Costco Reports (1%) Comps During October; Retail Numbers to Weaken
While Wal-Mart again sets the bar for steady comps performance this year with a 2.4% rise in same-store-sales, ex-fuel. Costco, meanwhile, reported a 1% drop versus expectations of 3.6%. But if we strip out the spiking U.S. dollar’s effect on the month, the company-wide comps growth at Costco rises to 3%, with 9% international growth.
As [...]
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