Finance & Capital Management

Pleasanton, Calif. -- Safeway Inc. reported Thursday that net income for the first quarter rose to $81.6 million, from $25.1 million in the year-earlier period.

Sales edged up 2.4% to $10 billion, from $9.8 billion last year. Same-store sales were flat.

“We continue to believe sales will grow as our new marketing initiatives take hold," said Steve Burd, chairman and CEO.

Green Bay, Wis. -- Jones Lang LaSalle said Thursday that business at East Town Mall, in Green Bay, Wis., would continue as usual, as the Atlanta-based company takes over as receiver for the mall.

The 198,000-sq.-ft. regional shopping center is located on the east side of Green Bay, Wis., in Brown County. Greg Maloney of Jones Lang LaSalle was appointed receiver and, under his leadership, JLL’s retail leasing and management team assumed immediate oversight of the mall and put its expertise to work to help stabilize the asset.

By now anyone who receives this weekly newsletter has heard or read something about Walmart’s alleged Mexican bribery scandal and cover up.

New York -- Liz Claiborne Inc. reported Thursday that it narrowed its loss in the first quarter to $60.6 million, compared with a $96.3 million loss in the year-ago period. Strong sales of the company’s Kate Spade and Lucky Brands goods strengthened the results.

Revenue for the period fell 4% to $317.1 million from $330.7 million, but beat Wall Street’s estimated $307.4 million in revenue.

SIDNEY, Neb. — Cabela's revenue for the first quarter increased 6.3% to $623.5 million and included a retail store revenue increase of 14.4% to $345.3 million and a direct revenue decrease of 8.3% to $190.2 million. For the quarter, comparable-store sales increased 4.2%.

The company reported that net income increased 62% to $28.8 million compared with $17.8 million in the year ago quarter, and earnings per diluted share were 40 cents compared with 25 cents in the year ago quarter.

Mexico City -- A Wall Street Journal report on Thursday said that the Mexico’s Ministry of Public Functions – the country’s public-sector watchdog – will investigate new-store permits secured by Wal-Mart’s Mexico division, Wal-Mart de Mexico.

The agency is looking for misconduct on the part of federal government employees in granting construction and other permits, according to WSJ.

New York -- Brixmor Property Group announced the addition of 11 leasing associates and the appointment of three Brixmor leasing representatives during the past six months with its focus on increasing the portfolio’s occupancy, further strengthening retailer relationships, and enhancing revenue from ancillary programs.

Following up on last week’s article (One area where Amazon.com doesn’t have an advantage), the extent of that advantage in the U.S. was on display in the nation’s capitol this week.