Dominick's parent company plans to exit Chicago market
The parent company of grocery chain Dominick's announced Thursday that it plans to leave the Chicago area market by next year.
Safeway Inc., which operates 72 Dominick's stores in the Chicago area, did not say whether it plans to sell or close the Dominick's stores.
The decision came after its chain of Dominick's stores lost $35.2 million in the first three quarters of 2013.
Safeway said in a press release that it plans to save $400 and $450 million by the move, which it will use to buy back stock and invest in other "growth opportunities."
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