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Safeway’s Q3 down 4.5%

BY Michael Johnsen

PLEASANTON, Calif. — Safeway on Thursday reported net income of $122.8 million for the third quarter ended Sept. 11, down 4.5% as compared with the year-ago period. Results for the third quarter included $12 million in employee severance charges, offset by a lower tax rate, compared with third quarter 2009.

"Our third-quarter results were in line with our expectations," stated Steve Burd, chairman, president and CEO. "The trend in price per item improved during the quarter. … We continue to tailor our offerings to the changing needs of our customers, with innovative consumer brand launches of Refreshe beverages and In-Kind personal care products, while offering lower everyday prices and attractive club card specials."

Total sales were down 1% to $9.4 billion in the third quarter. Same-store sales were down 2% due to a decline in price-per-item.

 

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FDA approves Vivitrol

BY Allison Cerra

SILVER SPRING, Md. The Food and Drug Administration approved a drug to treat and prevent relapse after patients with opioid dependence have undergone detoxification treatment.

Vivitrol is an extended-release formulation of naltrexone — which works to block opioid receptors in the brain — administered by intramuscular injection once a month. It only is administered by a physician.

 

"Addiction is a serious problem in this country, and can have devastating effects on individuals who are drug-dependent, and on their family members and society," said Janet Woodcock, director of FDA’s Center for Drug Evaluation and Research. "This drug approval represents a significant advancement in addiction treatment."

 

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‘Avatar’ phone covers make their debut

BY Allison Cerra

SAN FRANCISCO A creator of customized mobile phone covers and electronic devices has developed designs that feature images from the Academy Award-winning film “Avatar.”

“‘Avatar’ featured iconic imagery and memorable characters that captivated movie-goers around the world,” said Coveroo’s CEO and co-founder Karl Jacob. “Coveroo brings these characters and images to consumer’s phones and other personal electronics using our unique HighColor and Laser Engraving process.”

 

Coveroo will initially offer 20 designs from the film for purchase at Coveroo.com. Fans can pick from a selection of engraved and vibrant HighColor “Avatar” characters and scenes, with prices starting at $19.95.

 

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