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Consumer Affairs & Relations

  • No new bidders for J. Crew

    New York City -- J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.

    J. Crew agreed in November to be taken private in a $3 billion deal with two investment firms, TPG Capital and Leonard Green & Partners. It originally had until Jan. 15 to vet other prospects, and that period was extended by a month.

  • Apollo Management to combine Sprouts Farmers Market and Henry’s Farmers Market

    Phoenix -- Private equity firm Apollo Management will acquire majority ownership in Phoenix-based Sprouts Farmers Market. Apollo plans to combine Sprouts operations with another of its holdings, Henry's Farmers Market, based in Irvine, Calif. The combined company will operate under the Sprouts Farmers Market name.

    Terms of the deal, expected to close in the second quarter of this year, were not disclosed. The combined grocers will have 98 stores and generate annual sales that exceed $1 billion.

  • Kroger executive VP Donald Becker dies at 62

    Cincinnati -- Kroger Co. announced late Wednesday that executive VP Donald E. Becker died Wednesday after suffering an aneurysm. He was 62 years old.

    Becker started with Kroger as a clerk in 1969 in the Cincinnati-Dayton area and worked his way up to hold several leadership positions. In 2004, he became executive VP, a role in which he led the company's merchandising and purchasing among other duties, the company said in a statement.

  • Report: U.S. initial jobless claims rise to 410,000 last week

    Washington, D.C. -- A report released Thursday by the Labor Department said that applications for jobless benefits increased by 25,000 to 410,000 in the week ended Feb. 12, exceeding the 400,000 median forecast of economists surveyed by Bloomberg News.

    The filings increase indicates that labor market will take time to develop.

    The total number of people receiving unemployment insurance was little changed, while those collecting extended payments decreased.

  • Safeway launches 'at-the-shelf' SimpleNutrition program

    PLEASANTON, Calif. — Safeway has introduced its new SimpleNutrition program, an in-store shelf tag system that makes it easier for shoppers to find better nutrition choices among foods and beverages. The SimpleNutrition green shelf tags on qualifying items are located throughout the store next to Safeway’s everyday low prices and club card specials.

  • Survey: Fewer consumers switch service providers

    New York City -- For the first time in six years, the number of consumers who switched service providers as a result of poor customer service declined in 2010, according to the latest edition of an annual consumer behavior study by Accenture.

  • Abercrombie Q4 earnings nearly double

    New Albany, Ohio -- Abercrombie & Fitch Co.'s fiscal fourth-quarter net income nearly doubled on strong sales overseas and better U.S. results. The retailer reported net income of $92.6 million, up from $47.5 million a year ago.

    Revenue for the period ended Jan. 29 rose 23% to $1.15 billion, from $936 million. Domestic revenue rose 13%, while international revenue jumped 61%.

    Same-store sales rose 13%.

  • Office Max swings to profit in Q4 on cost controls

    Naperville, Ill. -- OfficeMax swung to a fourth-quarter profit as the company retailer continued to cut costs, though sales declined in both its contract and retail segments.

    OfficeMax reported earnings of $12.7 million, compared with a year-earlier loss of $2.58 million. Revenue decreased 2.4% to $1.77 billion. The chain expects sales to be flat for 2011.

  • Battle to end North Dakota’s restrictions on pharmacy ownership continues

    New York City -- Months after a voter initiative to abolish North Dakota's strict restrictions on pharmacy ownership foundered, the long-running debate resumed Tuesday in the state’s legislature, the Associated Press reported.

    North Dakota is the only state in the nation that requires pharmacists to have majority ownership of most pharmacies. The law prevents major retailers, such as Wal-Mart Stores, from operating pharmacies in their own stores.

  • Family Dollar gets $7.6 billion buyout bid from Peltz

    New York City -- Family Dollar Stores received a buyout offer on Tuesday from a New York hedge fund at $55 to $60 per share, a 36% premium over yesterday’s closing price. The offer, which values the company at up to $7.6 billion, was made by Trian Group, which is headed by activist investor Nelson Peltz.

    Trian Group has been accumulating shares of the discount retailer in recent months, and Peltz has met with management to discuss ways to boost its performance.

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