Finance & Capital Management

Strong traffic in the pharmacy department helped Rite Aid post a lift in same-store sales for the 52 weeks ended Feb. 28.

Same-store sales for the 52-week period increased 4.3% over the prior-year period. Front-end same-store sales increased 1.2%, while pharmacy same-store sales increased 5.8%. Prescription count at comparable stores increased 3.5% over the prior-year period.

Issaquah, Wash. – A tax benefit in connection with a special cash dividend helped boost net income at Costco Wholesale Corp. a better-than-expected 29% to $598 million from $463 million in the company’s second quarter of fiscal 2013.

Sales increased 4% to $26.9 billion and membership sales grew 5.8% to $582 million, with total revenues increasing 15.8% to $27.5 billion during the quarter ending Feb. 15.

The deep freeze hitting much of the United States this winter helped Fred’s improve its same store sales from the prior year, with cold weather product departments performing well in February.    Fred's total sales for February, not adjusting the closed stores, decreased 2% to $154.1 million from $157.4 million in February 2014. Same store sales for the month were approximately flat versus a decrease of 2.2% in February last year.  

Kroger CEO Rodney McMullen declared 2014 an outstanding year and it is easy to see why after the nation’s leading supermarket operator again surpassed performance expectations.

New York -- Grocery distributor and retailer SpartanNash has promoted Dave Staples, current executive VP and CFO, to COO. Staples will oversee all three operating segments of the company: retail, wholesale and military distribution. He will continue to serve as CFO until his replacement is hired.

Staples joined SpartanNash in January 2000, serving as the company’s executive VP and CFO since November of 2000

Meriden, Conn. -- Vestis Retail Group, which operates Bob’s Stores, Eastern Mountain Sports and Sport Chalet, has Susan J. “Sue” Riley to CFO.

Riley brings 30 years of financial management to her new role at Vestis, where she worked on a consulting basis as interim CFO in recent months.

The labor dispute at the West Coast ports and harsh winter weather are among the reasons Conn's reported a drop in same store sales for February.

Conn's said same store sales dropped 5.8% in February, compared to a 14.9% increase in the prior-year period.

Petland has hired a former Walmart executive as vice president of corporate stores as the pet supply retailer looks to expand its national footprint. 

Although Tony Samples last worked at Walmart in 2006, Petland touted his Walmart experience in a news release. "Tony brings extensive retail experience to Petland at a time when Petland is expanding its retail footprint," said Petland President and CEO Joe Watson. Samples will lead Petland's retail store division and oversee the company's merchandising and marketing efforts.