Consumer Affairs & Relations

AUSTIN — While the White House may be working with several retailers to combat so-called food deserts, those who can afford to spend more on their grocery bill are doing just that, helping to drive up profits at Whole Foods.

The company reported that its third-quarter profit rose 35% to $88.5 million, compared with $65.7 million in the year-earlier period.

Wal-Mart Stores president and CEO Mike Duke was on Capitol Hill this week making the case for modernizing the U.S. tax code even as Democratic and Republican lawmakers continued to engage in brinksmanship over what all agree is a disturbing level of national indebtedness. Duke testified before the United States Senate Committee on Finance, which was holding hearings on CEO perspectives on how the tax code affects hiring, businesses and economic growth. A transcript of his prepared remarks appears below:

New York City -- Liz Claiborne, parent company of Kate Spade and Juicy Couture labels, reported Thursday that its second-quarter loss widened to $89.9 million, from $86.8 million in the year-ago period.

Sales rose to $555.8 million from $536.8 million, beating Wall Street’s anticipated $522.1 million.
 

Walmart said it will donate $20 million to the Crystal Bridges Museum of American Art to provide for free admission for the next five years. The expansive world class facility scheduled to open Nov. 11 in Bentonville, Ark. was founded by the Walton Family Foundation in 2005.

Austin -- Whole Foods Market reported Wednesday a profit jump of 35% to $88.5 million, compared with $65.7 million in the year-earlier period.

Revenue rose 11% to $2.4 billion, meeting Wall Street expectations, and same-store sales rose 8.4%.

Retailers who release monthly sales next Thursday will offer fresh insight and hard numbers on back-to-school shoppers’ early season spending behavior and that’s a good thing because so far opinions offered by forecasters are all over the place.

Back in early July, Customer Growth Partners said seasonal sales would grow by 6.2% to $467 billion, the most since 2006, despite economic headwinds.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores announced that it has awarded 10 students, ranging in age from 10 to 17, with a total of $10,000 in scholarship money for post-secondary education. In addition to the scholarships, Kohl’s will donate $1,000 to a nonprofit organization of each winner’s choice. 

Minneapolis -- Supervalu president and CEO Craig Herkert on Tuesday spoke of the company’s “hyper-local retailing” concept during a conference call with analysts and reported by Retailing Today.

Supervalu’s commitment to growing its Save-A-Lot discount banner and its participation in First Lady Michelle Obama’s Partnership for a Healthier America campaign were other significant programs Herkert believes will help differentiate the grocer enough to drive trips and increase consumer loyalty.