business news in context, analysis with attitude

  • US food retailer Safeway Inc reported yesterday that it expected same-store sales for the first quarter to be “flat, and that quarterly earnings would be below year-ago results.

  • Kraft Foods Inc. posted first quarter net earnings of $848 million, up $155 million or 22.4 percent over the same period last year. Worldwide volume was up 0.1 percent; worldwide volume excluding the impact of businesses sold in 2002 up 0.9 percent, with Kraft Foods North America up 1.4 percent and Kraft Foods International down 0.3 percent.
KC's View: