Inside This Issue - News
Sobeys Inc., Canada’s second-largest supermarket operator, will purchase the Canadian assets of Safeway Inc. for $5.7 billion in cash ($5.8 billion Canadian, or about $4 billion after taxes and expenses) and the assumption of certain liabilities.
For all the celebrity appearances and performances at Walmart’s recent annual shareholders meeting here, it was the retailer’s workers who were frequently the center of attention.
Dollar Tree Stores Inc. has promoted Gary Philbin, who has served as chief operating officer since 2007, to the additional post of president.
Citing unidentified sources who are familiar with the discussions, Bloomberg News has reported that Yucaipa Cos. is currently in talks with Tesco PLC to buy the Fresh & Easy chain of about 200 stores in the western United States.
May saw retail sales rebound more strongly than expected, despite unseasonable weather in many areas of the country.
Shopko Stores Operating Co. will open five new Shopko Hometown stores in late fall of this year. The stores will be located in Afton, Wyo.; St. Peter, Minn.; and Winneconne, Ellsworth and Tomahawk, Wis.
Net income rose nearly 19% at Costco Wholesale Corp. during fiscal 2013’s third quarter, propelled by robust sales and double-digit growth in membership fees. Earnings exceeded Wall Street’s expectations, although revenue fell just shy of analysts’ forecasts.