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ISSAQUAH, Wash. — Costco Wholesale Corp. reported fourth quarter results that beat analysts’ expectations. Same-store sales for the 16-week quarter ended September 2 were up 10.8% in the United States and 9.5% for the company as a whole, compared to the same quarter last year. When the impacts of gasoline prices and foreign exchange rates
CARLISLE, Pa. — Giant Food Stores on Thursday announced plans for a new store format and brand designed for urban neighborhoods. The first of the new Giant Heirloom Market stores is set to open later this year in in Philadelphia’s Graduate Hospital neighborhood. The new store, which is currently under construction, will measure about 9,500 square
WASHINGTON— The National Retail Federation said on Wednesday that holiday retail sales this November and December will increase between 4.3% and 4.8% over last year’s figures. The average annual increase over the past five years has been 3.9%. “Our forecast reflects the overall strength of the industry,” NRF President and CEO Matthew Shay said in
DEERFIELD, Ill. – Kroger Co. and Walgreens are teaming up to work on an exploratory pilot program with a new format and concept that combines Kroger’s role as America’s grocer and food authority with Walgreens global expertise in pharmacy, health and beauty. The two retail leaders have selected 13 Walgreens stores in Northern Kentucky, near
CAMP HILL, Pa. – Rite Aid Corp. on Thursday posted second-quarter earnings that were in line with Wall Street’s expectations. The company also named three new board members and announced it was dividing the chairman and chief executive officer position. Director Bruce Bodaken will become chairman while John Standley remains CEO. The moves follow the
SEATTLE — Amazon is considering opening as many as 3,000 of its cashier-less Amazon Go convenience stores by 2021, unnamed sources familiar with the plan told Bloomberg News. Ten Go stores would be up and running by the end of 2018, 50 by the end of 2019 and up to 3,000 by 2021, according to
NEW YORK — Retailers can anticipate a jolly holiday season, with seasonal sales up at least 5% from last year, accounting firm Deloitte says in a report released on Wednesday. Deloitte’s retail and distribution practice foresees sales from November through January (seasonally adjusted and excluding motor vehicles and gasoline) topping $1.1 trillion. Comparable retail sales
EDEN PRAIRIE, Minn. — Supervalu Inc. has agreed to sell 19 of its 36 Shop ’n Save grocery stores to Schnuck Markets Inc. Most of the stores are in the St. Louis area. As part of the deal, Supervalu will serve as the primary supplier for nine Schnucks stores, located in Wisconsin, Iowa and northern
BOISE, Idaho — Jim Donald has been named president and chief executive officer of Albertsons Cos. effective immediately. He had been president and chief operating officer. Robert Miller, currently the company’s chairman and CEO, will continue as chairman . Donald’s 47-year retail career began as a trainee in Florida with Publix Super Markets Inc. He
DEERFIELD, Ill. — Walgreens and Fred’s announced on Monday that they have entered into a definitive asset purchase agreement, where Walgreens will acquire pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states. Under the terms of the agreement, the aggregate consideration to be paid by Walgreens to
WASHINGTON — CVS Health Corp.’s planned acquisition of Aetna Inc. is close to getting the official go-ahead from federal regulators, according to a report published Wednesday by The Wall Street Journal, which said the deal could receive formal antitrust approval from the U.S. Department of Justice within the next few weeks. That approval is expected to
BENTONVILLE, Ark. — Walmart announced on Wednesday a new pilot program to test a crowd-sourced option for delivering groceries and other goods to shoppers. Walmart said it expects the pilot, named Spark Delivery, to generate information that could spur solutions to the set of problems presented by the final leg or “last mile” of delivery