Finance & Capital Management

New York -- Macy's, Limited Brands and Gap Inc. all posted August same-store sales that topped analysts' estimates as retailers across the board generally posted strong sales, boosted by back-to-school shopping and aggressive promotions. The strong showing comes shortly after the news that consumer confidence for August slumped to its lowest level of the year.

Everyone who is anyone will be on hand in New York next week for the nineteenth annual Goldman Sachs Global Retailing Conference so its not surprising that Walmart U.S. president and CEO Bill Simon will be in attendance.

BRUSSELS — Delhaize's U.S. division has a new leader.

The supermarket conglomerate announced that Roland Smith will serve as Delhaize America's president and CEO, as well as EVP of the Delhaize Group, effective Oct. 15. Smith is replacing Ronald Hodge, who will be retiring from his post this year. Hodge will serve in an advisory role to ensure a smooth transition.

Minneapolis -- Supervalu announced that it is restructuring its executive leadership team to ensure alignment around the company’s goals and to better drive and execute the company’s business turnaround.

MISSISSAUGA, Ontario — The first of 39 former Zellers stores Walmart bought from Target in Canada celebrated its grand opening as a Walmart store earlier this month.

According to Walmart Canada, the 69,000 sq. ft. store located in Newmarket, Ontario, will feature easy-to-navigate aisles with directional signage, and a bright interior color palette to define the store's merchandise areas along with lower shelving to improve sightlines. The store will also conain a pharmacy.

GREENSBORO, N.C. -- The Fresh Market Inc. said Wednesday that its second-quarter net income surged 27%. The company also lifted its profit outlook for the year.

For the quarter ended July 29, Fresh Market earned $13.3 million, up from $10.5 million in the same period last year.

Revenue rose 21% to $313 million as the number of shopper purchases rose 5% and the average amount spent rose 3%. Same-store sales rose 8%.

Hong Kong -- Taubman Asia confirmed a joint venture agreement between Taubman TCBL and Beijing Wangfujing Department Store (Group) Co., Ltd (Wangfujing), one of China's largest department store chains.
 
The joint venture will own a controlling interest in and manage a shopping center to be located at Xi'an Saigao City Plaza, a large-scale mixed-use development in Xi'an, China, which is developed by Shaanxi Fuli Real Estate Development Co. Ltd. This is the first retail development by Taubman TCBL in China since the company was formed in late 2011.

Shoppers are hungry for convenience and value and Target continues to deliver both.