Retail News Breaks Archives
Among mass market retailers, August saw the strong get stronger while some regional discount chains struggled. For specialty retailers and department stores, summer drew to a close on a solidly positive note, perhaps reflecting an uptick in consumer sentiment.
Roland Smith will assume the roles of chief executive officer of Delhaize America and executive vice president of parent company Delhaize Group, effective October 15. He will succeed Ron Hodge, who will remain with the domestic chain in an advisory role before retiring later this year.
Supervalu Inc. has revamped its executive leadership a month after naming a new chief executive officer and amid reports that the company is seeking a buyer.
Big Lots Inc. has shaken up its executive ranks after reporting disappointing quarterly results and lowering its full-year earnings guidance for the second time.
Walmart continued to produce strong results in the second quarter, beating Wall Street’s expectations in the process. Management narrowed and raised its earnings guidance for the full 2013 fiscal year, but its revised projection barely met analysts’ average forecast.
Target Corp.’s reported net income for the second quarter was unchanged at $704 million, but share repurchases pushed earnings per share up 2.9% to $1.06 per diluted share from $1.03 in the preceding year.
Supervalu Inc. is reportedly asking potential buyers of parts of its business to consider bidding for the entire company instead.