U.S. grocer Safeway has announced that net income for the first quarter of 2011 amounted to $25.1 million, compared to $96 million reported in the same period last year. Net income included an $80.2 million tax charge resulting from the previously announced decision to repatriate $1.1 billion from Safeway's wholly-owned Canadian subsidiary. Total sales grew 4.8% to $9.8 million, while identical store sales were up 0.4%." Source: Planet Retail
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