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Issue 06-14-2010

Outlook improving for many of nation’s largest retailers

NEW YORK — Many of the nation’s largest retailers posted solid first quarter results, and strong sales in such categories as apparel and home goods offer more signs that consumer confidence is improving as an overall economic recovery appears to gain traction. Many of the nation’s largest retailers posted solid first quarter results, and strong

Merlo likely to succeed Ryan as CEO at CVS

WOONSOCKET, R.I. — CVS Caremark Corp. chairman, president and chief executive officer Tom Ryan has decided to call it quits. CVS Caremark Corp. chairman, president and chief executive officer Tom Ryan has decided to call it quits. Ryan, who has been the company’s top executive since 1998 and its chairman since 2007, will retire at

Delhaize and Anicetti part ways

BRUSSELS — Rick Anicetti has left Delhaize America, relinquishing the positions of executive vice president of the Delhaize Group and chief executive officer of Delhaize America Shared Services. Rick Anicetti has left Delhaize America, relinquishing the positions of executive vice president of the Delhaize Group and chief executive officer of Delhaize America Shared Services. Anicetti

Clarke takes the CEO reins at Asda

LEEDS, England — Andy Clarke has been named president and chief executive officer of Asda Group PLC, the United Kingdom’s No. 2 supermarket chain. He succeeds Andy Bond, who stepped down in April to take the new, part-time role of chairman of the company’s executive board. Andy Clarke has been named president and chief executive

FMI: ‘We must adapt’

LAS VEGAS — Saving money remains the top concern of supermarket shoppers, according to the latest customer survey from the Food Marketing Institute (FMI). Saving money remains the top concern of supermarket shoppers, according to the latest customer survey from the Food Marketing Institute (FMI). The survey, whose results were presented at the association’s recent

Lampert says dramatic changes are in the works at Sears

HOFFMAN ESTATES, Ill. — Two weeks before Sears Holdings Corp. reported a 38% drop in its quarterly profits last month, chairman Edward Lampert pointed out the company was undergoing dramatic changes that would significantly alter the way the retailer operates in the coming years. Two weeks before Sears Holdings Corp. reported a 38% drop in

Big profit gain caps year at 99¢ Only Stores

COMMERCE, Calif. — Dollar store operator 99¢ Only Stores wrapped up its 2010 fiscal year on a strong note, as net profit soared more than 600%, beating Wall Street’s expectations. Dollar store operator 99¢ Only Stores wrapped up its 2010 fiscal year on a strong note, as net profit soared more than 600%, beating Wall

Supervalu gets back into black

MINNEAPOLIS — Supervalu Inc. returned to a profit in the fourth quarter of fiscal 2010. Supervalu Inc. returned to a profit in the fourth quarter of fiscal 2010. The reported bottom line for the 12 weeks ended February 27 swung to a net profit of $97 million, or 46 cents per diluted share, from red

Walmart starts fiscal year with record sales, profits

BENTONVILLE, Ark. — Surging sales and operating profit at its international division helped Walmart overcome a sharper-than-expected drop in same-store sales at its U.S. stores, as first quarter net income exceeded both management’s and Wall Street’s forecasts. Surging sales and operating profit at its international division helped Walmart overcome a sharper-than-expected drop in same-store sales

Bi-Lo emerges from Chapter 11

GREENVILLE, S.C. — Bi-Lo LLC has completed its financial restructuring and emerged from protection under Chapter 11. Bi-Lo LLC has completed its financial restructuring and emerged from protection under Chapter 11. "This announcement is great for Bi-Lo, our teammates and our loyal customers," comments Michael Byars, president and chief executive officer. "With our financial restructuring

FMI: A group on the rebound

Last month’s Food Marketing Institute show in Las Vegas was a difficult event to evaluate. Last month’s Food Marketing Institute show in Las Vegas was a difficult event to evaluate. On the one hand, there was certainly lots going on — meetings, presentations, multiple exhibits by a range of suppliers and the very visible presence