Issue 06-24-2013

Big step for Sobeys

STELLARTON, Nova Scotia — Sobeys Inc., Canada’s second-largest supermarket operator, will purchase the Canadian assets of Safeway Inc. for $5.7 billion in cash ($5.8 billion Canadian, or about $4 billion after taxes and expenses) and the assumption of certain liabilities. Sobeys Inc., Canada’s second-largest supermarket operator, will purchase the Canadian assets of Safeway Inc. for

Walmart offers a path forward

FAYETTEVILLE, Ark. — For all the celebrity appearances and performances at Walmart’s recent annual shareholders meeting here, it was the retailer’s workers who were frequently the center of attention. For all the celebrity appearances and performances at Walmart’s recent annual shareholders meeting here, it was the retailer’s workers who were frequently the center of attention.

Dollar Tree tabs new president

CHESAPEAKE, Va. — Dollar Tree Stores Inc. has promoted Gary Philbin, who has served as chief operating officer since 2007, to the additional post of president. Dollar Tree Stores Inc. has promoted Gary Philbin, who has served as chief operating officer since 2007, to the additional post of president. "As chief operating officer, he has

Yucaipa may make bid for Fresh & Easy

NEW YORK — Citing unidentified sources who are familiar with the discussions, Bloomberg News has reported that Yucaipa Cos. is currently in talks with Tesco PLC to buy the Fresh & Easy chain of about 200 stores in the western United States. Citing unidentified sources who are familiar with the discussions, Bloomberg News has reported

Retail sales jump 4.8% during may

NEW YORK — May saw retail sales rebound more strongly than expected, despite unseasonable weather in many areas of the country. May saw retail sales rebound more strongly than expected, despite unseasonable weather in many areas of the country. "Stronger employment data and increasing home and equity prices lifted confidence and spending this spring," said

Shopko plans more Hometown stores

GREEN BAY, Wis. — Shopko Stores Operating Co. will open five new Shopko Hometown stores in late fall of this year. The stores will be located in Afton, Wyo.; St. Peter, Minn.; and Winneconne, Ellsworth and Tomahawk, Wis. Shopko Stores Operating Co. will open five new Shopko Hometown stores in late fall of this year.

Costco stays strong

ISSAQUAH, Wash. — Net income rose nearly 19% at Costco Wholesale Corp. during fiscal 2013’s third quarter, propelled by robust sales and double-digit growth in membership fees. Earnings exceeded Wall Street’s expectations, although revenue fell just shy of analysts’ forecasts. Net income rose nearly 19% at Costco Wholesale Corp. during fiscal 2013’s third quarter, propelled

Year off to disappointing start

It’s beginning to look like a long summer — at least for America’s mass retailing community. It’s beginning to look like a long summer — at least for America’s mass retailing community. Those are the initial indications as June gives way to July and mass retailers throughout the nation continue to wait for the rain

Omnichannel world to test mass retailers

The transformative power of technology, already much in evidence in mass market retailing, continues to change the rules of the game, creating new options for consumers and new opportunities for retailers smart enough to exploit them in a process the great Austrian economist Joseph Schumpeter called creative ­destruction. The transformative power of technology, already much