Safeway Inc. (SWY) announced after the bell Wednesday that it has entered into an agreement to sell its Canadian operations. The net assets of Canada Safeway Limited will be sold to Sobeys Inc. for C$5.8 billion in cash. The transaction is anticipated to close in the fourth quarter of 2013.
Safeway gapped open sharply higher Thursday, but retreated over the course of the morning, before settling into a range. The stock closed up by 1.71 at $24.82 on the highest volume of the year. Safeway rose to a 3-week high and re-crossed its 50-day moving average.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.