Retail Financial Archive
Inflation Squeezes Costco’s Earnings
ISSAQUAH, Wash. — Costco Wholesale Corp. here yesterday saw its stock plummet more than 12% after it issued a warning that its net income for the current quarter will fall short of expectations, in part due to its effort to keep prices down amid rising product costs....
IGA Names New Programs Manager
CHICAGO — IGA USA here said yesterday it has named Heidi Huff to the newly created position of manager of retail and marketing programs, with responsibilities for marketing events and other retail programs, including assessments and gift cards....
Supervalu Trims Outlook for Earnings and Sales
MINNEAPOLIS — Supervalu here said last week it is imposing tighter expense controls and other cost-savings activities “to create a foundation for sales momentum and future growth” once the economy turns. ...
Michigan OKs Tax Breaks for Supermarkets in Underserved Areas
LANSING, Mich. — Supermarkets in underserved communities in Michigan can qualify for tax exemptions under a new law passed last week by the state Legislature here. ...
Washington Grocers Group Proposes Bag Tax Alternative
SEATTLE — While the City Council here explores a 20-cent-per-bag tax on disposable grocery bags, the Washington Food Industry (WFI) proposed that its grocer members here take several steps as an alternative to a tax. ...
Food Lion Rolls Out Guiding Stars
SALISBURY, N.C. — Food Lion said Tuesday that it has officially launched the Guiding Stars nutritional guideline system in all its stores....
Stimulus Checks Not Stimulating Supermarkets: Study
TORONTO — Despite rising food costs, low consumer confidence and efforts to attract spenders, approximately 84% of U.S. consumers said they did not use their economic stimulus checks for groceries, according to Precima, a retail analytics firm here. ...
L.A. Panel Urges Chains to Open More Stores in Underserved Areas
LOS ANGELES — A blue-ribbon commission here has recommended that grocery executives operating stores within the city make a commitment to locate at least one new store a year in underserved communities in the area "[rather than] simply use the rhetoric of 'neighborhood markets' and 'good neighbors' without fulfilling these promises." ...
Sam's Offers Membership Cards for College Students
BENTONVILLE, Ark. — Sam's Club here said yesterday it is introducing a new membership program for college students. ...
Weis Earnings Fall on Increased Costs
SUNBURY, Pa. — Rising costs for fuel and credit and debit transaction fees contributed to a 29% drop in quarterly earnings for Weis Markets, the retailer here said Monday. ...
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