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Retail News Breaks Archives

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Week of Mon, Mar 21st, 2011

Fred's posts double digit earnings gain

Fred's Inc. reported a 49% increase in net earnings for its fourth quarter.

Walmart establishes East Coast office

Walmart is setting up an eastern business unit, headquartered in Atlanta, to run its nearly 1,600 stores in 20 states stretching from Maine to Florida.

Walgreens agrees to acquire drugstore.com

Walgreen Co. has agreed to acquire online retailer drugstore.com for approximately $409 million.

Dollar General sets sales, profit record in 2010

Dollar General Corp. reported record sales, operating profit and net income for both the fourth quarter and the full 2010 fiscal year.

Second-quarter profits up 10% at Walgreens

Net income for the second quarter of fiscal 2011 rose 10.5% to $739 million at Walgreen Co. as sales increased 8.9% to $18.5 billion.

Delhaize to convert Bloom outlets in Carolinas

Delhaize America has decided to abandon its upscale supermarket concept called Bloom in the Carolinas and will rebanner 15 stores in the Charlotte, N.C., and Greenville, S.C., markets as Food Lions. One location, in Mauldin, S.C., will be closed by the end of April.

Family Dollar raises earnings forecast on sales increase

Family Dollar Stores Inc., which recently rebuffed an unsolicited buyout offer, reported that sales for the second quarter ended February 26 rose 8.3% to $2.09 billion. Comparable-store sales increased 5.1%, despite a negative impact in January from harsh weather.

Walmart unveils new store plans for Chicago

Walmart has revealed further details on its planned store openings in Chicago, which reflect the retailer’s new multiformat strategy.

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