Strategy

Smart & Final says it's focused on growth and expansion of its new Extra! format as the retailer posts another quarter of impressive same store sales.

For the second quarter ended June 14, Smart & Final said net sales increased 9.3% to $905.1 million. Same store sales incraesed 3.5%. The company had net income of $11.0 million, or $0.14 per diluted share. And adjusted EBITDA increased 6.7% to $50.7 million. 

Walmart wants to advance its long-term growth prospects in China and has acquired full ownership of an e-commerce company in which it already held a majority stake to further that objective.

Canada's biggest food retailer Loblaw announced it plans to close 52 unprofitable stores over the next year at the same time the company reported lackluster second quarter financial results.

Loblaw Companies has more than 2,300 stores, including Loblaws, Provigo, and Extra Foods. It also owns Shoppers Drug Mart. 

Regional grocery chain Southeastern Grocers has agreed to sell 29 BI-LO stores to another regional grocery chain: K-VA-T Food Stores.

K-VA-T says it intends to continue to operate all of these stores under the Food City banner and hire the vast majority of their store associates, retaining their years of service.

Shares of Amazon.com surged past the $500 mark after the company reported a second quarter profit and revealed more details about a phenomenally successful Prime day promotion that fell in the third quarter.

New York – There is no shortage of retailers treading on different pieces of retail turf dominated by Amazon.com, and Macy’s is reportedly joining the list. According to Reuters, Macy’s will partner with same-day delivery provider Deliv to expand same-day delivery of online purchases to several new U.S. markets before the end of the summer.

Commerce, Calif. – Smart & Final Stores Inc. reported net income of $11 million in the second quarter of fiscal 2015, essentially flat compared to $11.1 million in the year-earlier period. Higher expenses related to higher sales volumes, increased store support costs, additional marketing expense, and public company costs inhibited profit growth.

Seattle – Nordstrom Inc. is letting women join the club. More specifically, Nordstrom is now allowing women to apply to its Trunk Club online personal shopper service that was previously only open to men.

Clearwater, Fla. – Recreational boat retailer MarineMax Inc. should be floating after receiving positive fiscal results for the third quarter of fiscal 2015. Net income sailed 29% to $14.9 million from $11.5 million in the same period the prior year, aided by gains from sale of real estate.

Revenue grew approximately 8% to $231.8 million, compared with $214.4 million. Same-store sales increased approximately 10%.