Retail Financial Archive

Big Y Plans New Prototype in 2011

Feb 25, 2010

SPRINGFIELD, Mass. — Big Y Foods said Thursday it plans to open a new, 45,000-square-foot prototype store in Berkshire County....

Former Kmart CEO Fined $10 Million

Feb 25, 2010

DETROIT — Charles Conaway, the former chief executive officer of Kmart was ordered to pay a $10 million penalty for misleading investors before the chain filed for bankruptcy protection in 2002, a federal judge here said Thursday....

Safeway Takes $1.8 Billion Charge

Feb 25, 2010, By JON SPRINGER

PLEASANTON, Calif. — A massive goodwill write-off in its Vons and Eastern divisions triggered a $1.6 billion loss in the fourth quarter for Safeway, the retailer here said Thursday....

Albertsons LLC Offers to Buy Bashas'

Feb 25, 2010, By MARK HAMSTRA

CHANDLER, Ariz. -- Albertsons LLC has offered to acquire the Bashas' chain out of bankruptcy for about $290 million, according to local reports Wednesday....

FMI Aims to Work With White House on ‘Food Deserts’

Feb 24, 2010, By MICHAEL GARRY

ARLINGTON, Va. — The Food Marketing Institute here supports working with President Obama and first lady Michelle Obama in understanding the challenges retailers face when trying to enter an underserved rural or urban area, said Jennifer Hatcher, FMI’s group vice president of government relations. ...

Metro Seeks Growth Opportunities

Feb 24, 2010

TORONTO — Canadian supermarket chain Metro said it wants to grow via acquisitions in its food and drug store divisions but sees very few opportunities....

Wal-Mart Opens Miami Latin Hub

Feb 24, 2010

MIAMI — Wal-Mart Stores has officially opened the new headquarters for its Latin America operations here....

Unified Seeks Financial Flexibility in 2010

Feb 23, 2010

LOS ANGELES — If 2009 was a year of adaptability for Unified Grocers, 2010 will be a year of flexibility, Al Plamann, president and chief executive officer, told the company's annual meeting here Tuesday. ...

Target Sees Spending on Rise, Margins on Decline

Feb 23, 2010

MINNEAPOLIS — Target Corp. here said Tuesday that sales and profits were both up in the fourth quarter as consumers seem to be slowly increasing spending on discretionary items in the wake of the recession....