Retail Financial Archive
Michigan Could Pioneer Twice-Monthly Food Stamps
LANSING, Mich. — Michigan could become the first state to switch to a twice-a-month food-stamp program after the state Senate yesterday passed a bill authorizing the change. ...
Safeway Sees Fewer Promotions, More ‘Everyday Value’
NEW YORK — While Safeway will continue to offer promotional pricing, “over the next two years we will be less promotional and provide better everyday value, which is what our cost reduction and process improvement programs are designed to accomplish,” Steve Burd, chairman, president and chief executive officer of the Pleasanton, Calif.-based chain, said yesterday at the Bank of America Consumer Conference here....
Supervalu: No Plans to Divest Supply Chain — Yet
NEW YORK — Supervalu is not considering divesting either its retail or distribution business or in any way separating them, but it might consider the possibility if one business compromised the growth or value of the other, Jeff Noddle, chairman and chief executive officer, told the Bank of America Consumer Conference here yesterday....
Italian Wholesaler to Partner in New York Launch of Eataly
NEW YORK — Coop Supermarkets, Italy’s largest food distributor, has taken a 40% interest in the artisan food store Eataly, set to make its U.S. debut here later this year....
Inventory Charge Slows Profit Growth for Kroger
CINCINNATI — Kroger here reported net earnings of $322.9 million on sales of $17.2 billion during the fiscal fourth quarter that ended Feb. 2. ...
Sobeys Sales Help Boost Empire Results
STELLARTON, Nova Scotia — Same-store sales gains of 2% at Sobeys supermarkets helped parent company Empire Cos. here lift third-quarter earnings 52% to $49 million, the company said Tuesday....
Food Retailers Increased Merger Activity in ’07
ELMWOOD PARK, N.J. — Food industry retailers completed 79 acquisitions in 2007, up from 69 in 2006 and just 24 in 2005, according to data released yesterday by Food Institute, based here. ...
Ahold to Buy Back 56 Stores in Dutch Deal: Report
AMSTERDAM — Ahold here will repurchase 56 supermarkets in the Netherlands from Schuitema, the supermarket retailer that Ahold has been seeking to divest. ...
A&P, C&S Reach ‘Innovative’ Distribution Agreement
MONTVALE, N.J. — A&P on Monday announced it has signed a 10-year distribution deal with C&S Wholesale Grocers that combines previously separate agreements between C&S and A&P and its affiliates....
Minnesota Workers Approve New Contract
St. PAUL, Minn. — Union workers serving retailers in the Twin Cities have voted to approve a new three-year contract, United Food and Commercial Workers Local 789 here said....
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