Finance & Capital Management

Bi-Lo Holdings has turned to a veteran Australian retail executive to take over as president and CEO.

The parent company of Bi-Lo, Harveys and Winn-Dixie grocery stores said that Ian McLeod has been appointed president and CEO effective March 2. McLeod succeeds Randall Onstead, who will remain in place through March 2.

Seattle -- Starbucks Corp.’s first-quarter profit surged 82% as new offerings and holiday gave a boost to store traffic. Net income increased to $983.1 million, from $540.7 million a year earlier.

Consolidated net revenues the quarter, ended Dec. 28, increased 13% to $4.8 billion. Global same-store sales increased 5%, with a 2% increase in traffic. Same-store sales in the company’s U.S.-dominated region rose 5%, with a 2% increase in traffic, better than analysts had expected.

New York -- Dollar General CEO Rick Dreiling had planned to retire in a few months, but after Family Dollar shareholder’s snubbed his company’s buyout offer, Dreiling said he’ll stick around a bit longer.

Last June, Dollar General indicated that Dreiling would step down as CEO effective May 30, or possibly sooner depending on the conclusion of a search for his successor.

Mississauga, Canada – Wal-Mart Canada will open 11 supercenters across the country by Jan. 29, 2015, completing its expansion for the company's current fiscal year. Walmart Canada's total store count will be 394 stores, including 280 supercenters and 114 discount stores.

Los Angeles - Forever 21 has powered up a 5.1-megawatt (DC), high-efficiency SunPower solar power system at its corporate headquarters in Los Angeles. PermaCity Solar designed and installed the system.

New York -- After months of delay and a failed bid by Dollar General, Family Dollar shareholders agreed to be acquired by Dollar Tree in a deal that creates a combined company with more than 14,000 locations, estimated annual sales of $19 billion and compelling growth opportunities.

Approval of the deal creates a new competitive dynamic in the world of extreme value retailing with the combination of Dollar Tree and Family Dollar making for a more formidable competitor to Dollar General and its nearly 12,000 stores.

Weak retail traffic and fewer sales at Sears hurt Lands’ End Inc. during the peak holiday season.

The retailer said it expects that for the period ending Jan. 30, earnings are expected to fall 20% to 26% from the year-earlier period to between $34 million to $37 million. On a per-share basis, the retailer forecast earnings of $1.06 to $1.16. Analysts polled by Thomson Reuters had been expecting $1.38 a share in earnings.

Walmart is capping off the end of its fiscal year with a flurry of activity, as the retailer is poised to open more stores in Canada.

Walmart said it will open 11 new supercenters by Jan. 29, completing its expansion for the company's current fiscal year ending Jan. 31.

These openings will bring Walmart’s total store count in Canada to 394 stores.

Dollar General CEO Rick Dreiling had planned to retire in a few months, but after Family Dollar shareholder’s snubbed his company’s buyout offer, Dreiling said he’ll stick around a bit longer.

The smallest of small businesses are feeling good about 2015 which is good news for Sam’s Club as it appeals to the key member segment.

Microbusiness owners, defined as companies with five or fewer employees, are feeling better about their ability to maintain or grow their personal income in 2015, according to the Sam’s Club/Gallup Microbusiness Tracker survey of more than 1,000 businesses.