Pinnacle Foods Inc. on Monday announced that it has exercised its right to terminate the merger agreement between the company and The Hillshire Brands Co. announced May 12. Pursuant to the terms of the merger agreement, Pinnacle is entitled to receive a cash payment from Hillshire Brands of $163 million as a result of this […]
Tag: financial
Posted in, Corporate Store News, Midwest
Kroger Achieves 42nd Consecutive Quarter Of ID Sales Growth
The Kroger Co. on Thursday reported net earnings of $501 million, or $0.98 per diluted share, and identical supermarket sales growth, without fuel, of 4.6 percent in the first quarter of fiscal year 2014. It is the company’s 42nd consecutive quarter of positive identical supermarket sales growth. This also is the first period that includes […]
Posted in, Midwest, Store News
2013 Merger Generates $2.3B In 1Q Sales For SpartanNash
SpartanNash Co. this week reported financial results for the 16-week first quarter ended April 19. Consolidated net sales for the first quarter increased 199.1 percent to $2.3 billion compared to $780.3 million last year, primarily due to $1.5 billion in sales generated as a result of the November 2013 merger with Nash Finch Co. as […]
Posted in, Corporate Store News, Northeast
Ahold To Settle Pricing Practices Lawsuit For $297M
Ahold has signed an agreement to settle a class-action lawsuit pending in the U.S. District Court in Connecticut regarding pricing practices of the company’s former subsidiary, U.S. Foodservice, from 1998-2005. Under the term sheet that was signed this week, Ahold has agreed to make a payment of $297 million into a settlement fund in return […]
Posted in, Equipment & Technology, National
Three Rules For Auditing Your Store Cash Offices
Retailers have many systems in place to track, study and audit nearly everything about a store, including inventory, sales and marketing efforts. But the cash office and front end are often an afterthought, tacked on to audits of other parts of the store. Audits of the cash office and the front end, including surveys of […]
Posted in, Executive News, National
Coffee Bean & Tea Leaf Taps Trader Joe’s VP As Its New CFO
The Coffee Bean & Tea Leaf, the oldest and largest privately-held specialty premium coffee and tea retailer in the U.S., has appointed Trader Joe’s executive Karen Cate as its CFO. She is responsible for all accounting, finance, treasury and IT functions at The Coffee Bean & Tea Leaf. Her teams are focused on delivering value-added business […]
Posted in, Store News, West
Stater Bros.’ 2Q Sales Increase
Stater Bros.’ consolidated sales in the 13 weeks ended March 30 were $963.8 million, up $1.9 million or 0.2 percent from the 13 weeks ended March 31, 2013, which saw consolidated sales of $961.9 million. The San Bernardino, Calif.-based company’s sales for the 26 weeks ended March 30 were $1.95 billion, up $17.2 million or […]
Posted in, National, West
Unified’s Sales, Earnings Improve
Unified Grocers this week announced improved sales and earnings for the 26 and 13 weeks ended March 29, the company’s second quarter of fiscal 2014. For the 26-week period, the Los Angeles-based distributor reported gross billings of $1.898 billion, compared to gross billings of $1.838 billion for the 26 weeks ended March 30, 2013, a […]
Posted in, Independent Store News, Northeast
Weis Markets 1Q Sales Increase, But Net Income Down 26.6 Percent
Weis Markets reported its first quarter results this week. During the 13-week period ending March 29, the company’s sales increased 0.6 percent to $687.1 million while its comparable store sales were down 1.3 percent compared to the same period a year ago. During the same period, the company generated earnings per share of $0.55 compared […]
Posted in, Southeast, Store News
Ingles Reports Higher Sales, Income For 2Q And First Half Of FY 2014
Ingles Markets reported Friday higher sales and net income for the three and six months ended March 29, 2014, as compared with the three and six months ended March 30, 2013. Second quarter net sales rose $27.1 million to $947.8 million and net income increased 29.2 percent to $10.5 million, compared with net income of $8.1 million […]
Posted in, Southeast, Store News
Publix Sales Jump In First Quarter
Publix’s sales for the first quarter of 2014 were $7.8 billion, a 4.1 percent increase from last year’s $7.5 billion. It is estimated that sales for the first quarter of 2014 were negatively impacted by 1.3 percent due to the Easter holiday being in the second quarter, the Lakeland, Fla.-based grocer says. In 2013, the […]
Posted in, Independent Store News, West
Report: Mi Pueblo Says It Might Have To Liquidate
Mi Pueblo has limited options to re-emerge from bankruptcy protection and faces the possibility of having to liquidate its 21 stores and abandon its 3,260 employees, the company says. The San Jose Mercury News reports that, in documents filed in federal bankruptcy court in San Jose last week, attorneys for Mi Pueblo asked Judge Arthur […]
Posted in, Independent Store News, National
AWG Reports Record Sales And Earnings
Associated Wholesale Grocers (AWG), the nation’s second largest cooperative food wholesaler, has reported consolidated net sales of $8.38 billion, up 6.8 percent over the prior year, marking the first time the company has exceeded the $8 billion mark. Same-store sales were up nearly 2 percent over the prior year. Operating income was a record $201 […]
Posted in, National
WGA Accepting Mary Macey Scholarship Applications
Aligned with Women Grocers of America’s (WGA) mission to recruit and retain the next generation of successful individuals in the independent grocery industry, WGA is now accepting applications for its Mary Macey Scholarship program. Mary Macey Scholarships are one-year awards for $1,500. Employees or family members affiliated with independent retailers and wholesalers are eligible to apply. […]
Posted in, Equipment & Technology, National
Marlin Business Services, Hussmann Launch New Financing Program
Marlin Business Services Corp. and Hussmann, the refrigerated products and solutions provider, have formed a strategic alliance that will provide financing solutions for Hussmann’s foodservice and food retailer customers in the U.S. and Canada. The partnership will enable customers to acquire Hussmann’s refrigeration products, including energy-efficient display cases, refrigeration systems, walk-ins and LED lighting solutions. […]
Posted in, Grocery News, National
IRI Reveals Most Successful CPG Brands Of 2013
Information Resources Inc. (IRI) has unveiled the most successful consumer packaged goods (CPG) brands in its “2013 New Product Pacesetters” report, an industry-recognized benchmark analysis of exceptional first-year CPG sales success for newly launched products. With 190,000 new UPCs and 9,500 new brand launches hitting the shelves in 2013, new products are high-octane fuel for […]
Posted in, National, Store News
Fresh Market Revises Expansion Plans As Profit Drops 90 Percent
After a disappointing 2013 and a 90.4 percent drop in fourth-quarter profit, Greensboro, N.C.-based specialty grocer The Fresh Market is modifying its real estate expansion plans and will close several stores in the Houston and Sacramento markets. The Business Journal reports that The Fresh Market reported late Thursday net income of $2 million, or 4 […]
Posted in, National
Farm Bill Passes In Senate; Off To President
The long-awaited Farm Bill has been passed by both the House of Representatives and the Senate, with the Senate casting the final approval—in a 68-32 vote today—before the nearly $1 trillion bill goes to the president’s desk. President Obama is expected to sign the bill into law. For more on the deals of the bill, […]
Posted in, Corporate Store News, Southeast
Ingles’ Net Sales Increase, But Income And Same-Store Sales Down
Ingles Markets has reported net sales of $945.1 million for its first fiscal quarter ended Dec. 28, 1.1 percent higher than last year’s first fiscal quarter ended Dec. 29, 2012 ($935.0 million). Net income totaled $9.5 million for the December 2013 quarter compared with net income of $11.6 million for the quarter ended December 2012. “We wanted […]
Posted in, Independent Store News, National
Natural Grocers Posts Sales Increase For Fiscal ’14 1Q
Natural Grocers by Vitamin Cottage has posted positive results for its fiscal 2014 first quarter ended Dec. 31. Net sales increased $24.8 million, or 25.8 percent, over the same period in fiscal year 2013 to $120.6 million—due to a $14.6 million increase in sales from new stores and a $10.2 million, or 10.6 percent, increase […]