Finance & Capital Management

Washington – After a solid start to the holiday season, the National Retail Federation announced that it is revising its holiday forecast to 3.3%, up from 2.3%. The upward revision is due to improvement in a variety of economic indicators including stock market gains, recent income growth, savings built up during the recession - all giving consumers the capacity to spend.  

Cary, N.C. -- C-store chain The Pantry reported Tuesday that net income for the quarter ended Sept. 30 dropped to $8.5 million, compared with $12.5 million in the year-ago period.

Merchandise revenue for the fourth quarter increased 12% overall and 5.7% on a same-store basis from last year’s fourth quarter.

Baltimore -- Jacksonville, Fla.-based Regency Centers on Tuesday announced the completion of an interior and exterior store remodel of Shoppers Food & Pharmacy at Southside Marketplace, located in Baltimore. 

The newly renovated anchor includes an upgraded shopping experience with updated finishes, lighting and store fixtures inside and out.

PLANO, Texas - Two members of the Dr Pepper Snapple Group executive leadership team have been promoted to the level of executive vice president, the company announced.

Effective Jan. 1, 2011, David Thomas, Ph.D., is EVP research and development, and Tina Barry becomes EVP corporate affairs. Both continue to report directly to Larry Young, DPS president and CEO.

New York City -- Centro NP Residual Holding LLC said Friday it has sold a portion of its interest in 25 shopping centers and formed a joint venture with Inland American CP Investment, LLC, a wholly owned subsidiary of Inland American Real Estate Trust.

The new joint venture has secured $310 million of term loans with J.P. Morgan and Goldman Sachs, which mature in 10 years and are secured by assets within the joint venture.

MINNEAPOLIS - Best Buy reported net earnings of $217 million, or 54 cents per diluted share, for its fiscal third quarter, compared with $227 million, or 53 cents per diluted share, for the prior-year period.

WASHINGTON - The National Retail Federation announced that it has urged the Senate to support legislation extending Bush era tax cuts that is scheduled for a procedural vote today, saying the measure would help preserve and create jobs.

Montvale, N.J. - The Great Atlantic & Pacific Tea Co. on Sunday filed for Chapter 11 bankruptcy protection as it struggles with enormous debt and increased competition from low-priced peers.

The 151-year-old company operates 395 stores around the Northeast under several banners, including A&P, Waldbaum's, The Food Emporium, Super Fresh, Pathmark and Food Basics.