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  • Hershey CEO gets new gig at Del Monte

    SAN FRANCISCO — Del Monte Foods Co. announced that it has appointed David West as its new CEO, effective Aug. 15. West will also join the company's board of directors in June.

  • DDR and Target launch redevelopment projects in San Antonio and Denver

    Beachwood, Ohio -- Shopping center owner and developer Developers Diversified Realty Corp. said Wednesday it will raze Terrell Plaza shopping center in San Antonio, Texas, and an existing two-story enclosed mall at Tamarac Square in Denver, Colo., to accommodate Target Corp.’s construction of two new stores.

    DDR said it intends to redevelop adjacent retail space at both centers.

  • Staples Q1 results weaker than expected

    FRAMINGHAM, Mass.  — Staples reported that total company sales for the first quarter of 2011 increased 2% to $6.2 billion compared with the first quarter of 2010.  Net income for the first quarter of 2011 increased 5% year-over-year to $198 million, and diluted earnings per share, on a GAAP basis, increased 8% to 28 cents from 26 cents in the first quarter of 2010.

  • Abercrombie & Fitch surprises with big swing to profit in Q1

    New Albany, Ohio -- Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.

    As previously reported, revenue rose 22% to $837 million, helped by a 64% surge in international revenue.

  • Target Q1 profit up 2.7% on credit-card business gains

    Minneapolis -- Despite weakened sales in the first quarter ended April 30, Target Corp. saw net income rise 2.7% on the strength of its credit-card business.

    The retailer reported on Wednesday net income of $689 million in the first quarter, up from $671 million in the year-ago period.

    Total revenue rose 2.2% to $15.94 billion. Same-store sales rose 2%.

    Analysts expected revenue of $16.02 billion.

  • Amazon to expand customer service center

    GRAND FORKS, N.D. — Amazon.com announced that it plans to expand its customer service center in Grand Forks, N.D.,  creating more than 200 full-time jobs and hundreds of seasonal jobs at the facility by the end of 2012.

  • Staples cuts outlook and scales back expansion as profit disappoints

    Framingham, Mass. – Staples reported Wednesday that first-quarter profit rose 5% to $198.2 million, compared with $188.8 million a year earlier. Results were boosted by overseas strength and increased buying by small businesses in North America.

    But results were softer than expected, and the company cut its full-year earnings guidance. Its earnings outlook for the second quarter and the year are below Wall Street estimates.

    Revenue rose 2% to $6.18 billion, from $6.06 billion a year ago. Same-store sales slipped 1%.

  • Nordstrom Rack to open at Westfield Plaza Bonita

    Seattle --Nordstrom announced it will open a 42,222-sq.-ft. Nordstrom Rack at Westfield Plaza Bonita shopping center in National City, Calif. The new store will open on Oct. 27.

    The new Nordstrom Rack will be the company's third Rack store in the greater San Diego area, joining Westfield Mission Valley in San Diego and Grand Plaza in San Marcos.
     

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