Finance & Capital Management

COMMERCE, Calif.  -- Even with an extra week in this year's reporting period, 99 Cents Only Stores reported a total sales increase for it fiscal fourth quarter. The company reported total sales of $378.5 million for the 14-week fourth quarter of fiscal 2011 ended April 2, 2011, compared with $339.3 million for the 13-week fourth quarter in the prior fiscal year. 

The company reported a same-store sales increase of 0.5% for the quarter. Excluding Texas operations, comps were up 0.7%.

New York City -- Wal-Mart Stores has agreed to pay $440,000 to settle a federal harassment lawsuit by 10 employees who say they endured ethnic slurs and derogatory remarks on a daily basis while working at a Sam's Club store in Fresno, Calif. The EEOC announced the settlement Thursday.

Nine of the lawsuit plaintiffs were of Mexican descent and one was married to a Mexican. The alleged harasser was a Mexican-American co-worker.

Minneapolis -- Supervalu reported Thursday that net income for the quarter ended Feb. 26 slipped 2% to $95 million, compared with $97 million in the year-ago period, but results still beat Wall Street expectations.

Performance was impacted by softer sales, which dropped 6% to $8.66 billion, missing Wall Street's estimate of $8.73 billion. Same-store sales fell 5%.

Supervalu, which operates Albertsons, Jewel-Osco and Save-A-Lot chains, launched a turnaround plan more than a year ago.

Dallas -- Finance solution-provider Trintech announced that international food retailer Delhaize Group has implemented its AssureNET GL software for financial process compliance.

AssureNET GL is a component of Trintech's Unity platform, a suite of modular software that empowers companies to automate their Last Mile of Finance to increase efficiency, improve visibility, shorten cycle times, lower costs, and reduce risk.

Washington, D.C. -- A report released Thursday by Bloomberg said that consumer confidence rose for a third straight week, indicating an improving job market and more positive attitudes about finances and the economy.

The Bloomberg Consumer Comfort Index climbed to minus 43 in the period to April 10, the best showing since the end of February, following a minus 44.5 reading the prior week.

MONTVALE, N.J. — A&P continues to implement its turnaround strategy with the announcement that it is filing a motion seeking court approval of bidding procedures to market and sell 25 Superfresh stores in two Southern states and the District of Columbia.

A&P, which filed for bankruptcy in December 2010, earlier this year revealed plans to shutter 32 stores in six states and bolstered its merchandising and marketing team with the appointment of six new executives.

Minneapolis -- Best Buy Co. said Thursday that it plans to open hundreds of wireless device stores, as well as expand online and in China in an effort to be more competitive as consumers up their online shopping. The chain is also scaling back the size of its signature namesake format. 

In an analyst conference Thursday, the retailer unveiled plans to shrink square footage at big-box stores by 10% over the next three to five years, a move that Best Buy said will eventually save $70 million to $80 million annually.

Paris -- French retail giant Carrefour SA reported Thursday that sales in its fiscal first quarter inched up 3.9% to $35.7 billion.

Stronger showings in Brazil and China helped the retailer counteract weaker performance in Western Europe.

Carrefour's sales figures come ahead of a key shareholder vote in June on the company's plans to spin off its discount chain Dia and some European property assets into separately listed companies.