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MINNEAPOLIS — Target Corp. on Tuesday reported a profit of $817 million, or $1.45 a share, in its fourth quarter, down from $1.43 billion, or $2.32 a share, a year earlier, when the retailer sold its pharmacy business to CVS Health. Same-store sales declined 1.5% in the fourth quarter. For 2017, the company forecasts per-share
SALISBURY, N.C. — Ahold Delhaize’s Food Lion chain announced today that the $178 million project to remodel 93 grocery stores in the Greensboro, N.C., market will be completed by August. Greensboro is the fifth market to get store upgrades as part of a strategy called “Easy, Fresh and Affordable … You Can Count on Food Lion
BENTONVILLE, Ark. — Walmart’s U.S. business accelerated in the fiscal fourth quarter, with domestic same-store sales posting their biggest increase since 2012. It was the 10th consecutive quarter of same-store sales growth for Walmart, which also said global e-commerce sales surged during in the three months ended January 31. Walmart said it earned $3.76 billion,
ARLINGTON, Va. — The German discount grocer Lidl says it will make its U.S. debut this summer, opening 20 stores in North Carolina, South Carolina and Virginia. The retailer says it plans to have as many as 100 stores in the country within a year. Lidl arrival in the American market is ahead of schedule.
DEERFIELD, Ill. — Walgreens chief merchant Linda Filler is leaving the drug chain effective April 1. A Walgreens Boots Alliance (WBA) spokesman on Wednesday confirmed the departure of Filler, who holds the titles of president of retail products as well as chief merchandising and marketing officer. “We appreciate Linda’s contributions to our company. Under her
NEW YORK — Walmart plans to streamline its buying process so that the same merchants can purchase products for the retailer’s stores and its web site, according to published reports. The move should help Walmart leverage its considerable buying power to make its online offering more compelling to consumers. The new approach will mean that
GOODLETTSVILLE, Tenn. — Dollar General Corp. expanded into its 44th state on Sunday with the opening of a store in Hankinson, North Dakota. The company said it plans to open six additional stores in the state through this spring. “Celebrating today’s grand opening in North Dakota is very exciting for Dollar General,” Dollar General chief
WOONSOCKET, R.I. — CVS Health topped Wall Street’s earnings-per-share forecast and, driven largely by its PBM unit, saw double-digit sales gains for the 2016 fourth quarter and full year. CVS said Thursday that for the fourth quarter ended Dec. 31, revenue totaled $45.97 billion, up 11.7% from $41.15 billion a year earlier. For the 2016
WASHINGTON — The National Retail Federation on Wednesday forecast that retail industry sales will grow between 3.7% and 4.2% in 2017. Online and other non-store/online sales, which are included in the overall number, are expected to increase between 8% and 12%. NRF’s definition of retail sales excludes automobiles, and money spent at gas stations and
QUINCY, Mass. — Ahold USA and Delhaize America announced plans to consolidate the two Stop & Shop divisions — Stop & Shop New York Metro and Stop & Shop New England — into a single organization. The move, announced on Monday, is the latest in an ongoing effort to unite and streamline the U.S. operations
SEATTLE — Net income for Amazon.com Inc. nearly quadrupled during fiscal 2016, aided by 27%-plus growth in total sales, sharply lower non-operating expenses and a dramatically lower effective income tax rate. Earnings for the year and the fourth quarter exceeded Wall Street’s hopes, but sales fell short of analysts’ projections. Net profit for the year
WASHINGTON — Consumer spending on Valentine’s Day is expected to slip this year after a decade of annual increases, according to the National Retail Federation. U.S. consumers are expected to spend an average of $136.57 on the holiday this year, according to the annual survey released by the NRF and Prosper Insights & Analytics. That