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Retail News Breaks Archives Fred's Inc. reported a 49% increase in net earnings for its fourth quarter. 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. Walgreen Co. has agreed to acquire online retailer drugstore.com for approximately $409 million. Dollar General Corp. reported record sales, operating profit and net income for both the fourth quarter and the full 2010 fiscal year. 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 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 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 has revealed further details on its planned store openings in Chicago, which reflect the retailer’s new multiformat strategy.
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