Retail Financial Archive
Village Tempers Outlook for Third-Quarter Sales
SPRINGFIELD, N.J. — Village Super Market here, which operates 25 ShopRite stores in New Jersey, this week said it expects same-store sales in the current quarter to be impacted by “cautious” behavior on the part of consumers....
Delhaize Takes $18.6M Charge for Sweetbay
BRUSSELS — Delhaize Group here said yesterday that it took an impairment charge of $18.6 million for the value of 25 Sweetbay stores, indicating those locations are not meeting financial projections....
Food Lion Launches New Vendor Program
SALISBURY, N.C. — Food Lion introduced last week what it described as the next evolution of vendor collaboration....
Congress Proposes Law Regulating Credit Card Fees
WASHINGTON — The House Judiciary Committee yesterday introduced legislation that calls for merchants, credit card companies and banks to negotiate transaction fees that would be set for three years at a time, according to Food Marketing Institute, which has been pushing for Congress to take action on the fees....
Food and Fresh Categories Lead Costco Sales
ISSAQUAH, Wash. — Sales in the food-sundries and fresh categories at Costco Wholesale Corp. here led all other product groups during the second quarter, which ended Feb. 17, Richard Galanti, executive vice president and chief financial officer, told analysts yesterday during a conference call to discuss the company's financial results....
A&P: ‘No Change’ in Consumer Behavior
TORONTO — Speaking at the CIBC World Markets Retail Conference here yesterday, Christian Haub, executive chairman of A&P, Montvale, N.J., said he has not seen any indication that consumers are changing their shopping behavior based on the economy. ...
BJ’s Posts Jump in 4th-Quarter Profits
NATICK, Mass. — BJ’s Wholesale Club here yesterday reported a sharp rise in fourth-quarter net income, citing strong sales of high-margin items such as perishables....
Supervalu Sees 'Orderly Pass-Through' of Inflation
NEW YORK — Although it is too early to say exactly how consumers will react to ongoing price increases in the grocery sector, Jeff Noddle, chairman and chief executive officer of Minneapolis-based Supervalu, said he expects food retailers to pass their cost increases on to consumers. ...
Publix Stock Drops Another Dime
LAKELAND, Fla. — Publix Super Markets here this week said the value of its stock, which is not publicly traded but is owned by current and former employees, was appraised at $20.70 per share, down from $20.80 in the preceding quarterly evaluation and from $20.90 in the quarter before that. ...
Burd Projects Big Gains in Safeway Profits
NEW YORK — Safeway is positioned to boost earnings by more than 50% in the next few years, to as much as $3.07 per share by 2011, compared with $1.99 in 2007, Steve Burd, chairman, president and chief executive officer, said yesterday during a presentation here to the Retail, Restaurant & Consumer Conference sponsored by Bear Stearns. ...
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