Finance & Capital Management

St. Louis – Save-A-Lot will open a new 140,000-sq.-ft. food distribution center in Aurora, Colo., in June 2014. Save-A-Lot currently services its stores in this market out of the company’s distribution center located in Dallas.

By Jim Rallo, president, retail supply chain group, Liquidity Services Inc.

The retail industry has seen its fair share of challenges in recent years with decreased foot traffic through stores as consumers move online to purchase products. Regardless of where consumers purchase goods, returns are an issue with the NRF estimating the amount of merchandise returned in 2013 totaling $267.3 billion.

DSW and Town Shoes Limited have entered into a definitive agreement whereby DSW will purchase for cash approximately 44% interest in Town Shoes, the largest footwear and accessories retailer in Canada, for CAD $68 million — or approximately $62 million based on current exchange rates.

The transaction has been approved by each company's board of directors and is expected to close in May, subject to customary closing conditions.

Jewel-Osco has named Scott Hays as VP operations for the Chicagoland grocery store.

Most recently a district manager with Albertsons LLC’s Southern division, Hays will lead the operations team to support Jewel-Osco’s marketing and merchandising initiatives, including the company’s upcoming remodels and opening their five newly acquired Dominick’s locations.

99 Cents Only recently changed its fiscal year from the Saturday closest to the end of March, to the Friday closest to the end of January, to be in line with its retail industry peers. But during the shortened fiscal year consisting of 44 weeks, from March 31, 2013 to Jan. 31, the company widened its net loss.

Total net sales were $1.53 billion, down 8% from $1.66 billion. Same-store sales rose 3.7%.

Pleasanton, Calif. - Safeway Inc. has completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings Inc. owned by Safeway. After the completion of the distribution, Safeway no longer owns any shares of Class B common stock of Blackhawk.

Pep Boys is looking to accelerate a range of digital and physical offerings as part of a strategy called, “Road Ahead,” after the omnichannel efforts resulted in 152% growth.

Pep Boys operates 800 locations in 35 states with 7,500 service bays which differentiates the company from parts-only players such as AutoZone and Advance Auto Parts who perform basic services in their parking lots such as changing batteries or wiper blades.

City of Commerce, Calif. – 99 Cents Only Stores LLC reported a widening net loss in an abbreviated 10-month fiscal 2014 which was shortened from the Saturday closest to the end of March to the Friday closest to the end of January. Net loss grew to $12.48 million from $8.9 million.

Total net sales were $1.53 billion, down 8% from $1.66 billion. Same-store sales rose 3.7%.