|
May 23, 2013
Target Corp. reported first quarter sales and adjusted earnings that fell short of analysts’ expectations, even after those estimates were revised in the wake of management’s April warning that results would be weaker than expected.
The company consequently lowered its earnings guidance for fiscal 2013.
|
Walmart reported a 1.1% increase in net income to $3.78 billion, or $1.14 per diluted share, for the first quarter of fiscal 2014, as sales grew 1% to $113.43 billion. Supervalu Inc. reported wider losses from continuing operations for both the fourth quarter and full 2013 fiscal year as sales in its retail and wholesale segments continued to weaken. Tesco PLC has confirmed that it will exit the United States and has classified its Fresh & Easy chain as a discontinued operation. Target Corp. has updated its forecast for first quarter comparable-store sales and earnings as well as full-year reported earnings following the sale of its credit card portfolio and settlement of its debt tender offers. Stater Bros. Markets has appointed Peter Van Helden as president and chief operating officer, succeeding Jim Lee, who will retire effective June 1. Van Helden will report to chairman and chief executive officer Jack Brown. Rite Aid Corp. reported its second consecutive quarterly profit and its first annual profit since 2007. According to the Commerce Department, retail sales decreased 0.4%, the largest decline since June 2012, following a 1% increase in February.
More Retail News Breaks >>
|
|
Dunnan Edell, president and chief executive officer of CCA Industries, has passed away suddenly. His father, David Edell, former CEO and founder of the company, has agreed to resume the CEO’s role. David Edell had retired at the end of 2011. Alliance Boots GmbH is celebrating its 77th anniversary by relaunching its Boots No7 skin care line, No7 Beautiful Skin. Hair growth brand Viviscal was mentioned earlier this month on the popular ABC-TV daytime talk show "The View." McLane Co. has entered an agreement to buy Meadowbrook Meat Co. (MBM), a national foodservice distributor. The Global Market Development Center (GMDC) will debut a major innovation in connectivity at its 42nd annual General Merchandise Marketing Conference in Orlando, Fla., June 1 to June 5. Morton Salt Inc.'s chief executive officer Mark Roberts has been appointed as a member of the board of executive directors of K+S Group, effective October 1, 2012. Dream Products LLC has expanded distribution of its Dream Water relaxation shot to Target, Kroger and Safeway stores.
More Supplier News Breaks >>
|
|
