Inside This Issue - News
Family Dollar Stores Inc. said it will close hundreds of underperforming stores and trim its work force after profits fell sharply in its most recent quarter. The dollar store chain posted a 35% decline in fiscal second quarter earnings, to $91 million.
The third-largest pharmacy business in the country has a new leader. Labeed Diab has been named senior vice president and president of health and wellness at Walmart, which has annual prescription drug sales of more than $22 billion.
Costco Wholesale Corp. beat Wall Street’s expectations with a 5% same-store sales gain in March.
Rite Aid Corp. announced it has acquired RediClinic, one of the nation’s leading operators of retail clinics, on the same day it reported operating results for the fourth quarter and fiscal year ended March 1.
Target Corp. is expanding its selection of natural and sustainable products by partnering with 17 established brands.
Sam’s Club is promoting women-owned businesses through a $2.5 million grant from its philanthropic Sam’s Club Giving Program.
Walmart, an early adopter of LED lighting systems in the retail setting, announced plans to purchase LED ceiling fixtures for new Supercenters in North America and China and units of its subsidiary Asda Stores Ltd. in the United Kingdom.
Budget grocer Aldi has acquired a 55-acre site in Southern California, where it will build a distribution center to serve about 200 stores in the region.
Roundy’s Inc., a leading grocer in the Midwest, has opened a new Mariano’s location in the Ravenswood area of Chicago, its largest store to date.