Winn-Dixie Equity Committee Hearing Set For FEB. 9
ers in the Winn-Dixie Stores bankruptcy case will argue for reinstatement in a hearing Feb. 9, saying that the U.S. Trustee's recent decision to disband the committee was "arbitrary, capricious and an abuse of discretion." Equity holders in the case have pushed for an examination into potential liabilities of Winn-Dixie's executives and board prior to the retailer's bankruptcy filing last year. In a separate motion, Winn-Dixie has petitioned for authorization to pay Peter Lynch, its chief executive officer, a bonus of $2 million to stay with the company through Dec. 31. Lynch received a $1.5 million retention bonus in 2005.
Ahold Revises Sales Data at Some U.S. Chains
AMSTERDAM, Netherlands - Ahold here said a "manual calculation error" resulted in some incorrect comparable-store sales figures being included in its fourth quarter and yearly sales statement, which it issued Jan. 12. Comps at Stop & Shop increased by 1.3% in the quarter and 0.7% for the fiscal year, not by 1.8% and 0.8% as originally reported, Ahold said. Comp sales at Giant-Landover fell by 0.7% in the quarter, not 0.4% as reported. The yearly comp decrease of 2.4% at Giant-Landover was correctly reported, Ahold said. The incorrect results were published in the Jan. 16 issue of SN.
Wegmans Chairman Makes $8 Million Donation
ROCHESTER, N.Y. - Robert Wegman, chairman of Wegmans Food Markets here, has made a donation of $8 million to St. John Fisher College, which school officials said will fund a nursing school. "I am concerned about the future of health care, particularly the cost, and believe that addressing the nursing shortage is an important goal," Wegman said in a statement. "I also see this as an investment in our community, since many St. John Fisher College students stay in the Rochester area after graduating." A year ago, Wegman made a $5 million donation to St. John Fisher to fund a pharmacy school, expected to open later this year.
Costco Said to Set Sights on Manhattan Location
NEW YORK - Warehouse club Costco is on the verge of signing a lease for its first Manhattan location, published reports said. The Issaquah, Wash.-based retailer would be a tenant in East River Plaza, a retail site between 116th and 119th streets in East Harlem, a project first proposed in 1999 that developers are finally ready to build, according to the New York Times.