Consumer Affairs & Relations

“A government agency run amok,” is how National Retail Federal president and CEO Matt Shay this week described the actions of the National Labor Relations Board regarding the issue of micro-unions.

CINCINNATI — Fuel sales at Kroger helped drive the company's total sales up 5.8% to $29.1 billion in the first quarter of fiscal 2012 from $27.5 billion for the same period last year. Total sales, excluding fuel, increased 4.3% over the same period last year.

Identical supermarket sales, without fuel, increased 4.2% in the first quarter over the same period last year, marking the 34 consecutive quarters of positive identical supermarket sales for Kroger.

An “extremely unusual circumstance,” is how police described the situation that unfolded this week in a Walmart parking lot where a Chicago couple was arrested after several of their children were discovered bound and blindfolded.

Cincinnati -- The Kroger Co. reported Thursday that net income in the first quarter rose to $439.4 million, from $432.3 million last year.

The operator of namesake stores as well as Ralphs, Food 4 Less and others, also said it authorized a $1 billion share buyback.

Sales during the period were $29.06 billion, up from $27.46 billion last year but missing Wall Street’s expected $29.16 billion. Same-store sales rose 4.2%, the grocer’s 34th straight quarter of growth.

Unfazed by Walmart’s resurgent customer traffic and same-store sales rebound, the nation’s second largest grocer this week hung its 34 consecutive quarter of identical-store sales growth on the board.

Washington, D.C. -- A report released by the Labor Department on Thursday showed that the cost of living in the U.S. dropped in May by the most in three years.

The consumer-price index declined 0.3%, more than forecast and the biggest drop since December 2008, after no change the prior month.

Economists projected a 0.2% decrease, according to the median estimate in a Bloomberg News survey. The core measure, which excludes food and energy costs, increased 0.2% for a third month.

Minneapolis -- Target Corp. said Wednesday its board approved the increase of its quarterly dividend by six cents, or 20%, to 36 cents. The chain will pay the dividend on Sept. 10 to shareholders of record as of Aug. 15.

Target Corp. has paid a dividend every quarter since going public in 1967.


 

New York -- Barnes & Noble Inc. founder and chairman Leonard Riggio agreed on Wednesday to forgo $29 million from a sale of one of his companies to the book retailer in order to settle a shareholder lawsuit, according to court documents, Reuters reported.

The lawsuit goes back to a 2009 agreement by the chain to buy back Barnes & Noble College Booksellers Inc. for $514 million from Riggio.