|
Retail News Breaks Archives February was kind to mass market retailers, as generally mild weather proved no obstacle to healthy shopper traffic. Kroger Co. reported a fourth quarter loss of $306.9 million, or 54 cents per diluted share, due to the consolidation of a union pension plan. Sun Capital Partners Inc. has completed the merger of Shopko Stores and Pamida, the two regional discount chains it owns, forming a single network of almost 350 stores in 22 states. Publix Super Markets Inc. recorded a 13.4% rise in sales to $7.2 billion for the fourth quarter of fiscal 2011, aided by an extra week that added 7.6% to the top line. Target Corp. executives entered the 2012 fiscal year upbeat despite an intensely competitive holiday season that restrained fourth-quarter sales growth. Net income rose 13.2% to $394 million while sales increased 10.1% to $22.51 billion during the second quarter of fiscal 2012 at Costco Wholesale Corp. Bottom Dollar Food, a unit of Delhaize America, will open the first two of eight limited-assortment grocery stores in New Jersey on March 2. Safeway Inc. has officially announced that Brian Baer was given the permanent role of president of its Dominick’s Finer Foods division late in 2011. Walmart plans to open a 33,000 square-foot Neighborhood Market on the ground floor of a senior housing complex in the Chinatown district of downtown Los Angeles. Whole Foods Market Inc. has promoted two regional presidents to the position of executive vice president of operations and added them to the chain’s executive leadership team. Dollar Tree Inc. reported a 22.9% increase in net income to $488.3 million for fiscal 2011.
|
