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PORTLAND, Ore. - Safeway Stores Inc. will hold its 2008 investor conference call Thursday, when the grocer is expected to discuss how it will navigate in the tough economy.
Safeway, which is based in Pleasanton, Calif., is one of the nation's largest grocers. It has invested in its stores recently and seen modest sales gains. But, like many grocers, it is struggling to balance financial performance with demands from strapped consumers for deals.
Goldman, Sachs & Co. analyst John Heinbockel said Safeway, which is dealing with a number of macroeconomic pressures, is likely to be "guardedly upbeat" at the meeting, with a focus on how the company is managing with limited consumer spending and positioning for 2010.
Shares of Safeway closed at $21.81 Wednesday.
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