Retail News Breaks Archives
Second quarter sales rose more than 10% at Dollar General Corp. as new stores and a 5.1% increase in same-store sales drove the top line. In addition, net income soared 47% to $214 million, or 64 cents per diluted share.
Supervalu Inc. will close approximately 60 stores during the current 2013 fiscal year, which ends February 23, 2013, with most slated to go dark before December 1.
Despite intensifying competition, Walmart is viewing the upcoming holiday season optimistically, said Walmart U.S. president Bill Simon during a presentation at the Goldman Sachs Global Retailing Conference here.
According to a report from IGD, Tesco PLC is adjusting its growth strategy in China and will close four of its 130 hypermarkets there.