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Issue 07-23-2012

Supervalu looks for solutions

MINNEAPOLIS — Supervalu Inc. suspended its dividend earlier this month while it seeks to fund aggressive price cuts aimed at winning back shoppers. Supervalu Inc. suspended its dividend earlier this month while it seeks to fund aggressive price cuts aimed at winning back shoppers. In light of a dismal financial performance in its first quarter,

Retailers, credit card firms reach settlement

BROOKLYN, N.Y. — Visa, MasterCard and several major banks earlier this month agreed to pay more than $7 billion to settle an antitrust case brought on behalf of 7 million retailers that accept the companies’ credit cards. Visa, MasterCard and several major banks earlier this month agreed to pay more than $7 billion to settle

Target openings in Canada slated

MINNEAPOLIS — Target Corp. has confirmed the stores it plans to open in Canada next year. Target Corp. has confirmed the stores it plans to open in Canada next year. The company says it will open 125 stores in all 10 provinces. The openings, which will begin in the spring, will be scattered throughout the

June sales are disappointing

NEW YORK — Americans spent less at retail businesses for the third straight month in June. According to a Commerce Department report released earlier this month, spending during June fell in nearly every major category. Americans spent less at retail businesses for the third straight month in June. According to a Commerce Department report released

Walgreens to acquire 144-store USA Drug

DEERFIELD, Ill. — As it continues to increase its presence across the country, Walgreen Co. has purchased USA Drug. As it continues to increase its presence across the country, Walgreen Co. has purchased USA Drug. The $438 million acquisition adds 144 outlets in seven states in the Mid-South and Great Plains to Walgreens’ store base.

Family Dollar on roll

MATTHEWS, N.C. — Net income grew by double digits at Family Dollar Stores Inc. during the third quarter, but expanding consumables sales pressured gross margins and results just missed Wall Street’s expectations. Net income grew by double digits at Family Dollar Stores Inc. during the third quarter, but expanding consumables sales pressured gross margins and

Still in budget mode

JACKSONVILLE, Fla. — The sluggish economy has consumers continuing to hunt for discounts regardless of their incomes, according to Acosta Sales & Marketing’s latest “The Why? Behind The Buy” biannual report. The sluggish economy has consumers continuing to hunt for discounts regardless of their incomes, according to Acosta Sales & Marketing’s latest “The Why? Behind

Top chains part of business elite

Early in 1963, when Civil Rights had finally emerged as a major issue during the Kennedy administration, the White House invited the executives who headed America’s 100 largest retail companies to Washington to assess their feelings and employment policies surrounding this suddenly volatile issue. Early in 1963, when Civil Rights had finally emerged as a

Supers need to keep up with consumers

Food is big business, and everyone wants a piece of it. Food is big business, and everyone wants a piece of it. With supermarket sales in the United States totaling $557.7 billion last year to account for 40% of mass market sales, it’s no wonder that a growing number of retailers in other trade classes,