Strategy

Kroger has extended its streak of consecutive same-store sales growth to 40 quarters — an impressive feat in light of the slow economic recovery.
 
The company reported a same-store supermarket sales increase of 3.5%, excluding fuel, for the third quarter.

"The resiliency of our Customer First strategy … was on full display during the quarter, even as our internal research shows that customers remain uncertain about the economy," Dave Dillon, Kroger chairman and CEO said.

Los Angeles — The largest residential development currently under construction in downtown Los Angeles, One Santa Fe has been “topped out” by Bernards, the commercial builder directing the project.

Construction companies “top out” projects when they add the last beam to the top of a building.

Walmart International president and CEO Doug McMillon isn’t due to replace current Wal-Mart Stores president and CEO Mike Duke until February, but when he does the most pressing matter on a long list of priorities will be executing the company’s digital vision.

Tempe, Ariz. -- Togo's Eateries has opened its first restaurant in Tempe, Ariz., owned by current Togo's franchisees, Monty and Diana Coury, who opened the first Togo's restaurant in Gilbert, Ariz., last year.

"Since opening our first restaurant in Gilbert, we've seen a tremendous amount of support from the community and there is still a huge potential for growth in the market,” said Monty Coury.

Robert Adler was named acting chairman of the U.S. Consumer Product Safety Commission to fill a position vacated by former chairman Inez Tenenbaum.

Adler joined the CPSC, an agency that exerts tremendous influence over the consumer packaged goods and retail industries, in 2009 when he was appointed by president Barack Obama. Prior to his appointment Adler served on the Obama Transition Team and and co-authored a report on the CPSC for the administration.

Los Angeles -- John Dawson has been named president and CEO of coffee and tea retailer Coffee Bean & Tea Leaf, charged with accelerating the chain’s plans for global growth.

New York -- Eddie Lambert’s ESL Partners has reduced the size of its stake in Sears Holdings Corp. disclosing in a regulatory filing on that it now owns 48.4% of its shares, down from 55.4%.

In a statement, Lampert said that his fund had distributed 7.4 million shares in Sears to investors who wanted to withdraw money from his firm.  He said that he had not sold any of his personal holdings.

New York -- Express Inc. reported net income of $19.3 million for the quarter ended Nov. 2, an 11% rise over last year’s $17.4 million profit.

Revenue increased 7.4% to $503 million, beating Wall Street’s expected $500 million in sales, and same-store sales increased 5%.

However, the specialty retailer lowered its guidance for the fiscal year as it said Thanksgiving week sales exceeded last year's levels but didn't meet expectations.