by Terrie Ellerbee/associate editor The company that will result from the merger of Spartan Stores and Nash Finch Co. will without doubt have one thing in abundance: brands. Plans are to begin integrating the two companies before the end of the calendar year, as shareholder approval is pending but expected. Edina, Minn.-based Nash Finch operates […]
Tag: financial
Posted in, Albertsons, National, Store News
Supervalu Reports 2Q Fiscal 2014 Results
Supervalu Inc. on Thursday reported its second quarter fiscal 2014 results—and perhaps the biggest news dealt with the company’s Save-A-Lot banner, whose corporate-operated stores experienced a 4.6 percent increase in identical store sales. Sam Duncan, president and CEO of Supervalu, said on a conference call Thursday morning that corporate stores have revamped their meat and […]
Posted in, C-Store News, National
NACS: Consumer Pessimism Deepens Despite Gas Price Declines
Consumer pessimism continues to deepen despite a second straight month of gas price declines. Nearly one in four consumers (23 percent) say they are “very pessimistic” about the economy, tied for the highest level measured this year, according the latest monthly NACS Consumer Fuels Survey. This is also the fourth month in row of increasing […]
Posted in, National
SNAP, WIC Benefits Continue During Government Shutdown—For Now
A number of state grocery associations are reporting that there has been confusion over the contingency plans for Supplemental Nutrition Assistance Program (SNAP) and WIC during the government shutdown. There will be no change in the SNAP (formerly known as food stamps) benefits for October, though the future of issuances for November and beyond are […]
Posted in, Corporate Store News, Southwest
United To Extend Military Discount Due To Government Shutdown
United Supermarkets LLC is extending its Military Discount Wednesdays program to seven days a week until further notice as a result of the federal government’s partial shutdown and the subsequent closure of military base commissaries. The program will offer a 10 percent discount on grocery purchases for all active, retired and civilian military at all […]
Posted in, National
New House Farm Bill Cuts $39B From SNAP Budget
The House of Representatives passed its latest version of the Farm Bill Thursday with a vote of 217-210. One of the most widely debated issues, food assistance and the Supplemental Nutrition Assistance Program (SNAP), is cut by $39 billion in the current version. According to Feeding America CEO Bob Aiken, who recently undertook the SNAP […]
Posted in, National
NGA Provides Testimony At Swipe Fee Litigation Fairness Hearing
The National Grocers Association (NGA) provided testimony Thursday at a fairness hearing before U.S. District Judge John Gleeson in Brooklyn, N.Y., in the case “In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation.” The purpose of the hearing was to determine whether to approve the motion for final approval of the settlement. After […]
Posted in, National, Store News
Kroger Reports Record 2Q Results
The Kroger Co. on Thursday reported net earnings of $0.60 per diluted share and identical supermarket sales growth, without fuel, of 3.3 percent in the second quarter of fiscal 2013. The company marked its 39th consecutive quarter of positive identical supermarket sales. “Kroger’s strong second quarter results have us on target to deliver the earnings per […]
Posted in, Executive News, National
List-Stoll To Succeed CFO McLevish At Kraft Upon Retirement
Kraft Foods Group says that Teri List-Stoll has joined the company as SVP of finance and will succeed current CFO Timothy McLevish in the first quarter of 2014. List-Stoll has a wealth of consumer packaged goods experience, having worked for nearly 20 years at Procter & Gamble, according to Kraft. Since 1994, she has held […]
Posted in, Southeast, Store News
Report: BI-LO Looking To Go Public
Privately owned BI-LO Holdings LLC, which bought Winn-Dixie Stores Inc. last year, is planning an initial public offering later this year, Reuters reported Tuesday. Citing two unnamed sources “familiar with the matter,” Reuters said BI-LO already has hired three investment banks to lead the underwriting group for the IPO. Winn-Dixie spokesman Brian Wright told the […]
Posted in, Independent Store News, National
Survey: Independents Significantly Improve Sales, Profits In 2012
The National Grocers Association (NGA) and FMS have released the results of their joint 2013 Independent Grocers Financial Survey. Showing their resilience and business savvy, independent grocers capitalized on the improvements in the economy and posted an average net profit before taxes of 1.65 percent in fiscal year 2012, up from 1.12 percent in 2011. […]
Posted in, Store News, West
Stater Bros. Reports 3Q Increase In Sales, Customer Count
Stater Bros. Holdings Inc. reported Tuesday that its consolidated sales in the 13 weeks ended June 30 were $968.8 million, up $19.0 million, or 2 percent, from the same period a year prior; the prior year’s third-quarter sales were affected by the Easter holiday, which fell in the third quarter of fiscal 2012 and in […]
Posted in, National, West
Unified Posts $11.3M Loss In 3Q
Unified Grocers Inc., the largest wholesale grocery distributor in the western U.S., has reported an $11.3 million net loss for the company’s third fiscal quarter; that’s compared to earnings of $1.2 million for the same period in 2012, according to the Los Angeles-based cooperative. Losses before patronage dividends and income taxes were $14.6 million for […]
Posted in, National, Store News
Sales Up 12 Percent At Whole Foods For 3Q, Store Growth Outlined
Whole Foods Market this week posted positive numbers for the company’s third quarter ending July 7. The Austin, Texas-based grocery chain reported that sales increased 12 percent to $3.1 billion. Comparable store sales increased 7.5 percent, and identical store sales, excluding four relocations and one expansion, increased 7.2 percent. Earnings before interest, taxes, depreciation and […]
Posted in, National
NGA: Corporate-Only Tax Reform Is A Non-Starter
President Obama released on Tuesday a proposal that attempts to simplify the tax code for American businesses by reforming only corporate tax rates. Though the National Grocers Association (NGA) says efforts to lower the top corporate tax rate from the highest in the world at 35 percent to 28 percent is a step in the […]
Posted in, National
NACS: ‘We Fundamentally Won On All Counts’ In Swipe Fee Decision
The U.S. District Court ruled today in favor of merchants in a challenge to debit card interchange rules set by the Board of Governors of the Federal Reserve System. The decision blasts the board for not following the law as passed by Congress, saying that it failed to set fees that are “reasonable and proportional […]
Posted in, Midwest, Store News
IFF Now Lending To Grocers In High-Need Areas Across The Midwest
IFF, a longtime provider of financial solutions and real estate consulting to nonprofit organizations focused on healthy food access and education, also is now responding to the financing needs of full-service grocery stores in high-need areas. For the first time ever, and thanks in part to federal funding, IFF is lending to for-profit, community-engaged grocers across […]
Posted in, Executive News, Southeast
Chief Restructuring Officer Now Running Belle Foods
The father-and-son team that founded Belle Foods in Birmingham just more than a year ago gave up control of the bankrupt grocery chain to New York-based Carl Marks Advisory Group (CMAG) on Monday. CMAG partner, J. Jette Campbell, will be running Belle Foods. Al.com reports that U.S. Bankruptcy Court Judge Jack Caddell ordered the move […]
Posted in, National, Store News
Safeway Pleased With 2Q Results
Safeway Inc. President and CEO Robert Edwards says the company is pleased with its second quarter 2013 results, which it reported last week. “We are pleased with the significant milestones we achieved this quarter. The substantial cash proceeds we expect to receive from the sale of our Canadian operations combined with the completion of the […]
Posted in, Albertsons, Executive News, National
Supervalu Appoints New CFO
Supervalu Inc. has named Bruce Besanko as the company’s EVP and CFO, effective Aug. 7. Besanko joins Supervalu after serving as EVP of finance, CFO and chief administrative officer for OfficeMax. “I’m very excited to welcome Bruce to Supervalu,” said Sam Duncan, president and CEO. “Having worked with him during a successful turnaround at OfficeMax, […]