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Inside This Issue - News
Walmart reported a 27% increase in net income for the fourth quarter of fiscal 2011, but the strong bottom-line performance was overshadowed by a decline in domestic same-store sales that exceeded management’s most recent forecast. Seeking a leader with IT savvy, Sears Holdings Corp. got one with the appointment of Lou D’Ambrosio as president and chief executive officer. Allan Leighton is stepping down as president of Loblaw Cos., effective later this year. He will be succeeded by Carrefour executive Vicente Trius, who is also a veteran of Walmart International. Target Corp., which reported solid results for the fourth quarter and 2010 fiscal year, expects to tap into new avenues of growth beginning next year. Family Dollar Stores Inc. is the latest mass market retailer to receive an acquisition proposal. A&P has said it will close 32 stores in six states as it continues to restructure its business. Aldi has made its New York City debut with the opening of a store in the borough of Queens. For the 16th consecutive year shoppers have rated Publix Super Markets Inc. as the top grocery chain.
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