Safeway Inc. posted a lower profit from continuing operations for the third quarter on Thursday, but its net profit rose to $157 million from $130.2 last year, helped by the sale of some of its Genuardi's stores.
Ahold subsidiary Giant Food said it has commenced its conversion of 15 former Genuardi's stores.
Weis Markets has closed on its purchase of three former Genuardi's stores and is slated to reopen them on June 16.
Safeway Inc. said that it has agreed to sell three of its Genuardi's stores in Pennsylvania to grocery chain Weis Markets.
Safeway Inc. is exiting the Philadelphia market.