Strategy

GOODLETTSVILLE, Tenn. — Surging profits and a 6.7% first quarter same-store sales increase prompted Dollar General to raise its full-year profit forecast by three cents.

Dollar General shows no signs of slowing down this year after posting first-quarter results that saw the company’s total sales increase 13% to nearly $3.5 billion and net income increase 36% to $213 million. The 6.7% comp increase was driven by an increase in customer traffic and average transaction size, according to the company.

New York -- Brooks Bros. Group and Reliance Brands Limited announced Tuesday the formation of a joint venture company in India.

Reliance Brands, a division of Reliance Industries Group, will use its local connections to bring the American brand to India.

Canadian specialty apparel retailer Reitmans broadens its appeal with a new store environment designed to appeal to a younger and more fashion-focused shopper while also engaging the existing customer base. Bright, crisp, clean and confident, the new design (by Dalzel and Pow, London) brings a fresh, modern feel to the brand.

Greenpeace has released its latest "Carting Away the Ocean" report, and Target should be pleased with where it ranked on the list. With a score of 6.4, Target placed fifth and earned an orange, or "passing," rating. While that may not seem so great, it is important to keep in mind that only two retailers, Safeway and Whole Foods received green, or "good" ratings for their scores of 7 and 7.1, respectively -- the first time any retailer has recieved such distinction.

ST. PAUL, Minn. — Supervalu banner Cub Foods has partnered with a local produce grower to provide year-round local produce to locations throughout the Twin Cities.

Los Angeles -- Regional sporting goods retailer Sport Chalet reported Monday that it lost $3.8 million in the quarter ended April 1, compared with net income of $300,000 in the year-ago period.

The company cited warm weather trends for the weakened performance.

Revenue fell 16.6% to $81.9 million, from $98.2 million. Same-store sales dropped 5.3%.

 

Seattle -- Eddie Bauer announced Tuesday that Michael R. Egeck has been named its president and CEO, replacing interim CEO David Chamberlain who will remain a member of the board.

Egeck was most recently CEO of Hurley International, a division of Nike. He has also served as president of True Religion.

WASHINGTON — Organized retail crime is a growing concern for all retailers, with a staggering 96% reporting that their company has been the victim of a crime in the past year, according to NRF's Organized Retail Crime Survey. This number is up from 94.5% in the past year.  In addition, 87.7% say ORC activity in the United States has grown over the past three years.