Finance & Capital Management

Growth opportunities in new geographies prompted Kroger to realign its organizational structure and place four executive in new roles.

Just two days after reporting strong first quarter results, the nation’s second largest food retailer established two new supermarket divisions in Nashville and Louisville.

San Francisco -- The Gymboree Corporation has appointed former Levi Strauss & Co. executive Joelle Maher as the company's new COO.  

At Levi Strauss & Co., Maher was most recently executive VP, president global retail, and prior to that senior VP of Americas multichannel retail, and VP, planning, allocation, stores, store operations and outlet.

She also held executive leadership positions at Lucky Brand Jeans, Old Navy and Macy's East.

Fort Worth, Texas -- Pier 1 Imports announced a 14% jump in fiscal first-quarter earnings on Thursday and upgraded its full-year guidance.

The company reported net income of $20.3 million for the first quarter ended June 1, compared to $17.8 million for the year ago period.

Total sales were $395 million, a 9.3% increase from $361 million in the prior year quarter. Same-store sales rose 5.9% on stronger store traffic and higher average tickets.

New York -- Loblaw Cos., Canada's largest grocer, is testing a small-store discount under the Box by No Frills banner. 

The company debuted the concept in Calgary, in a 10,000-sq.-ft. store. The store everyday low price" on groceries and other merchandise, Sarah Davis, Loblaw's CFO said in a conference call Wednesday, The Canadian Press reported.
 

Cincinnati -- The Kroger Company reported better-than-expected net income of $481 million during the first quarter of this year, up nearly 10% from $439 million in the first quarter of 2012. The company also raised its forecast for annual earnings.

Total sales increased 3.4% from $29.1 billion to $30 billion and a 3.3% increase in same-store sales beat analyst projections of a 2.8% increase.

CAMP HILL, Pa. — Rite Aid reported profits for the third consecutive quarter, as it launched the largest extension to date to its loyalty card program and continued growing the latest iteration of its new store format.

FORT WORTH, Texas — Pier 1 Imports saw “significant” growth in sales and profit for the 15th consecutive quarter.

GENEVA & LONDON — P&G Prestige has entered into a licensing agreement with Alexander McQueen to manufacture and sell designer fragrance products under the Alexander McQueen brand name.

Walmart isn’t the first place that comes to mind as a destination for professional business attire so at first blush it was a bit odd to see the company affiliated with a group called Dress for Success Worldwide.

That said, there is more to Dress for Success than meets the eye which is why Walmart, in keeping with its female empowerment objectives, contributed $500,000 to the organization with week. The funds were presented during a special event held in conjunction with the Walmart Northwest Arkansas LPGA Championship.

Now that Walmart U.S. derives more than 66% of its sales from food, consumables and health and wellness related categories, Kroger is more of an immediate threat than Amazon.