Retail Financial Archive
Big Y Plans New Prototype in 2011
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
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
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'
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’
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
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
MIAMI — Wal-Mart Stores has officially opened the new headquarters for its Latin America operations here....
Unified Seeks Financial Flexibility in 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
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....
Acme Workers to Vote on New Contract
WEST BERLIN, N.J. — Union workers of Acme stores in New Jersey are scheduled to vote Wednesday on a new contract with the employer. ...
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