MINNEAPOLIS — Although it just reported a net loss of $1.51 billion for fiscal 2011, management of Supervalu Inc. expects the current fiscal 2012 to be a transitional year, with renewed sales and profit growth in fiscal 2013. Although it just reported a net loss of $1.51 billion for fiscal 2011, management of Supervalu Inc.
BRISBANE, Calif. — Walmart has agreed to acquire Kosmix, a social media company focused on e-commerce. Terms of the deal for the Mountain View, Calif.-based start-up were not disclosed. Walmart has agreed to acquire Kosmix, a social media company focused on e-commerce. Terms of the deal for the Mountain View, Calif.-based start-up were not disclosed.
CAMP HILL, Pa. — Rite Aid Corp. has promoted senior vice president of category management Tony Montini to executive vice president of merchandising. Rite Aid Corp. has promoted senior vice president of category management Tony Montini to executive vice president of merchandising. Montini, who started his second stint with Rite Aid in February 2010 after
COLUMBUS, Ohio — Big Lots Inc. aims to open more new stores this year than it did last year, with roughly a third of the openings earmarked for “A” locations. Big Lots Inc. aims to open more new stores this year than it did last year, with roughly a third of the openings earmarked for
HOFFMAN ESTATES, Ill. — Sears Holdings Corp.’s Sears division has begun adding beauty departments to more than 100 stores as well as the sears.com website. Sears Holdings Corp.’s Sears division has begun adding beauty departments to more than 100 stores as well as the sears.com website. The new departments include cosmetics from such brands as
TORONTO — Katz Group Canada Ltd. has named former Duane Reade and Longs Drugs pharmacy executive Frank Scorpiniti chief operating officer. Katz Group Canada Ltd. has named former Duane Reade and Longs Drugs pharmacy executive Frank Scorpiniti chief operating officer. "Frank is a strategic thinker who has a passion for the retail pharmacy industry and
ABILENE, Kan. — The small town–focused regional discount chain Duckwall-ALCO Stores Inc. reported an uptick in sales in the fourth quarter ended January 30. The small town–focused regional discount chain Duckwall-ALCO Stores Inc. reported an uptick in sales in the fourth quarter ended January 30. Net sales from continuing operations for the quarter increased 4.4%
TOKYO — The massive earthquake and tsunami that devastated northeastern Japan have dealt a blow to Walmart’s Seiyu stores in the region as well. The massive earthquake and tsunami that devastated northeastern Japan have dealt a blow to Walmart’s Seiyu stores in the region as well. Ironically, executives of the Japanese operations, which had struggled
BELLA VISTA, New South Wales — Woolworths Ltd., Australia’s largest retailer, has flagged an era of growth and diversification by appointing its former head of new business development, Grant O’Brien, as chief executive officer-elect. Woolworths Ltd., Australia’s largest retailer, has flagged an era of growth and diversification by appointing its former head of new business
The chain drug industry has entered a period that can best be characterized by three absolutes: stability, change and the emergence of new leadership. The chain drug industry has entered a period that can best be characterized by three absolutes: stability, change and the emergence of new leadership. Walgreens’ acquisition of Duane Reade in 2009
The business leaders who gather at this year’s National Association of Chain Drug Stores Annual Meeting in Scottsdale, Ariz., will have a lot to discuss. The business leaders who gather at this year’s National Association of Chain Drug Stores Annual Meeting in Scottsdale, Ariz., will have a lot to discuss. Ongoing efforts to expand the