In addition to the 13 stores it already has received court approval to close, Belle Foods LLC is now seeking permission to sell 12 stores following its bankruptcy filing earlier this month. As part of its restructure, the Birmingham, Ala.-based grocery chain plans to sell 10 Alabama stores—mostly in the Mobile area—and two Mississippi stores. […]
Tag: financial
Posted in, National
House Approves Farm Bill Without SNAP
Passed by a 216-208 vote Thursday, the Farm Bill contains many of the same farm-related programs as the previous bill that failed in June, but it omits the nutrition title. The nutrition title includes the Supplemental Nutrition Assistance Program (SNAP) and other food assistance programs. Assistance organizations, including Feeding America and Bread for the World, […]
Posted in, National, West
Unified Refinances Senior Debt
Unified Grocers Inc., the largest wholesale grocery distributor in the western U.S., said today that it has successfully completed a refinancing of its senior credit facilities. The refinancing included both the replacement of the existing revolving credit facility together with the pay-down of approximately half of its higher rate senior secured notes. The Commerce, Calif.-based […]
Posted in, Independent Store News, Southeast
Belle Foods Files Bankruptcy
Belle Foods LLC filed for Chapter 11 bankruptcy protection Monday, with the Birmingham, Ala.-based grocery chain claiming a number of factors led to deteriorating financial results. The Birmingham Business Journal reports that the chain, which has 57 stores and more than 2,850 employees, listed debts of $10 million to $50 million. It said its assets […]
Posted in, National, Store News
Kroger’s Same-Store Sales Up 3.3 Percent In First Quarter
The Kroger Co. reported Thursday that its same-store sales for the first quarter of 2013 were up 3.3 percent, without fuel. It marks the company’s 38th consecutive quarter of positive identical supermarket sales. “Kroger achieved strong sales and record earnings per share for the quarter, and our customers’ positive view of us continues to improve,” […]
Posted in, Grocery News, National
Cigarette Prices To Increase; New Tobacco Product Rulings Begin Soon
The nation’s three largest tobacco makers are raising cigarette prices. The Business Journal reports that Reynolds American Inc. subsidiary R.J. Reynolds Tobacco Co., Lorillard Inc. and Philip Morris USA are raising prices for most brands. Reynolds and Lorillard will raise prices by 6 cents a pack or 60 cents a carton for wholesalers and direct […]
Posted in, National, West
Raley’s Hit By Cyber Attack
Raley’s Family of Fine Stores says it recently discovered that a portion of its computer network systems may have been the target of a complex, criminal cyber attack. The company reports that it immediately initiated an investigation to determine whether cyber criminals may have obtained customer credit and debit card information. At this time, the […]
Posted in, Independent Store News, West
Pro’s Ranch Sets Up Informational Website About Its Chapter 11 Filing
Pro’s Ranch Markets, which voluntarily filed for Chapter 11 bankruptcy in Arizona earlier this week, has set up an informational website about the reorganization. The site URL is www.prosranchreorg.com. The Ontario, Calif.-based grocery chain with 11 stores in Arizona, Texas and Mexico made the filing Tuesday. “We made this important move to improve the overall […]
Posted in, National
Food Retail Survey Anticipates Amplified Audit Function Over Five Years
Supermarket audit departments and audit budgets will witness resource expansions congruent to the expanding roles within information technology, retail operations and supply chain departments, according to the Food Retailing and Wholesaling Internal Audit Study published by the Food Marketing Institute (FMI). Forty-two percent of companies expect to grow the size of the internal audit function […]
Posted in, National, Store News
Walmart Posts First Quarter Results
Walmart Stores Inc. today reported financial results for the first quarter ended April 30, 2013. Net sales for the first quarter were $113.4 billion, an increase of 1.0 percent over last year. Net sales last year benefited by 1.0 percent from the extra day due to leap year. On a constant currency basis, net sales […]
Posted in, National
Chiquita’s Restructuring Efforts Improve Company’s 1Q Operations
Chiquita Brands International Inc. earlier this week released financial and operating results for the first quarter of 2013, reporting net income of $2 million for the period compared to net loss of $11 million for the first quarter of 2012. The Charlotte, N.C.-based company also reported comparable operating income of $23 million compared to $13 […]
Posted in, Southeast, Store News
Ingles Reports Higher Sales, Income For 2Q And FY13’s First Half
Ingles Markets Inc. on Monday reported higher sales and net income for the three and six months ended March 30. Second quarter net sales rose $36.9 million to $918.6 million and net income increased to $8.1 million, compared with net income of $6.5 million for the prior year’s second quarter. For the first six months […]
Posted in, Northeast, Store News
Weis Markets Reports 3.2 Percent Sales Increase For Q1
Weis Markets Inc. this morning reported that its first quarter sales increased 3.2 percent to $682.7 million compared to the same period in 2012 while its comparable store sales increased 0.8 percent. For the 13-week period ending March 30, the company’s net income increased 0.5 percent to $20.1 million compared to the same period in […]
Posted in, National, Store News
Safeway Releases 1Q 2013 Results
Safeway Inc. reported Thursday net income of $0.49 per diluted share for the first quarter of 2013. This includes tax benefits of $0.14 per diluted share, of which $0.07 was contemplated in our annual guidance. These results compare with income from continuing operations in the first quarter of 2012 of $0.30 per diluted share. Other […]
Posted in, Albertsons, National
Supervalu Reports 4Q Fiscal 2013 Net Loss Of $1.41B
Supervalu Inc. has reported fourth quarter fiscal 2013 net sales of $3.89 billion and a net loss of $1.41 billion, or $6.65 per diluted share. Due to the sale of the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-On in-store pharmacies on March 21, those banners’ results were presented as […]
Posted in, National, Suppliers
IRI Names Most Successful Consumer Packaged Goods Brands Of 2012
In 2011-2012, nearly 1,900 new CPG brands hit retail shelves across the U.S. multi-outlet geography, which includes traditional grocery, drug and mass market retailers, as well as sales from dollar and club channels, Walmart and military commissaries. Information Resources Inc. (IRI) announced earlier this week that only 11 percent of those launches met the stringent, […]
Posted in, C-Store News, National
Pilot Flying J Raid Reportedly Stems From Unpaid Rebates
An FBI raid of the Pilot Flying J headquarter offices in Knoxville, Tenn., on Monday reportedly resulted from an issue regarding unpaid customer rebates to some truck lines. CEO Jimmy Haslam held a press conference Tuesday and said the raid stemmed from what appears to be a “very insignificant number of customers and the application […]
Posted in, Independent Store News, Southeast
Diaz Supermarkets Owners Accused Of $35M Fraud In Miami-Dade
The owners of Diaz Supermarkets in Miami-Dade County have been accused of fraudulent transactions totaling $35 million, according to The Miami Herald. The South Florida Business Journal says John Diaz, 45, and his wife, Mercedes Avila-Diaz, 44, were arrested Friday. Diaz faces charges of money laundering, organized scheme to defraud and multiple money service business […]
Posted in, National
Safeway Board Says CEO Burd Is Underpaid At $11.4M
Retiring Safeway CEO Steven Burd is not paid as well as his peers in the retail industry, even though he took home $11.4 million in 2012 and $11.5 million in 2011, according to the Pleasanton, Calif.-based company’s executive compensation committee. The San Francisco Business Times reports that Safeway’s audit committee—the members of the board of […]
Posted in, National, Store News
Dollar General Reports Jump In Same-Store Sales For 4Q, Year
Dollar General Corp. on Monday reported record sales, operating profit and net income for its fiscal 2012 fourth quarter (13 weeks) and full year (52 weeks) ended Feb. 1, 2013. “Dollar General had yet another outstanding year in 2012 including exceptionally strong fourth quarter results,” said Rick Dreiling, chairman and CEO of Goodlettsville, Tenn.-based Dollar […]