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Consumer Affairs & Relations

  • 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.

  • 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.

  • 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%.

  • 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.

  • 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.

  • A&P looks to close more than 30 stores

    MONTVALE, N.J. -- A&P announced that it has filed a motion seeking approval to close 32 stores in six states as the company continues to fully implement its comprehensive financial and operational restructuring. The store closures are expected to be completed in the company’s fiscal first quarter, subject to court approval.

  • ACSI shows customer satisfaction remains strong

    ANN ARBOR, Mich. -- The American Customer Satisfaction Index has dropped just 0.1% from the previous quarter to 75.9 on the ACSI's 100-point scale, indicating that customers satisfaction remains strong, the ACSI reported.

  • Sears' Lampert reports 5.8% stake in Gap

    New York City -- A Tuesday report by the Wall Street Journal said that hedge fund billionaire and Sears Holding Corp. chairman Edward Lampert has reported holding a 5.8% stake in Gap Inc.

    Lampert reported the stake in a 13G filing, or a filing for passive investors, with the Securities and Exchange Commission late Monday.

    His ESL Partners company and affiliates reported beneficially holding 35 million common shares.

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