Strategy

First quarter sales at the leading online retailer surged 34% to $13.2 billion during the first quarter ended March 31, as the company continues to enjoy a huge competitive advantage by allowing customers to avoid paying sales tax.

Despite surging sales, net income at the company declined 35% to $130 million or 28 cents a share, compared with $201 million or 44 cents a share the prior years. Operating income also declined considerably, dropping to $192 million in the first quarter compared with $322 million in first quarter 2011.

Delray Beach, Fla. -- Indianapolis-based Kite Realty Group said Thursday that Republic of Couture will open an 8,000-sq.-ft. store at Delray Marketplace, located in Delray Beach, Fla. The new store is slated to open in November.

Delray Marketplace is a 270,000-sq.-ft. center anchored by Franks Theatres, Max’s Grille and Publix.

By now anyone who receives this weekly newsletter has heard or read something about Walmart’s alleged Mexican bribery scandal and cover up.

Irvine, Calif. -- Hanley Investment Group Real Estate Advisors said that Jonathan Selznick has joined the company as VP.

Selznick was most recently a broker with Pacific Commercial Investments in Irvine, Calif., where he advised clients on the acquisition and disposition of retail investment properties.
 

PLEASANTON, Calif. — Safeway's first quarter net income rose to $81.6 million, from $25.1 million in the year-earlier period. Sales edged up 2.4% to $10 billion, from $9.8 billion last year. Same-store sales were flat.

Addison, Texas -- Coyote Management has announced the addition of three new strategic divisions -- a Third Party Management Division, Coyote Creative, and MER Interests.

By Sam Khalilieh, [email protected]

Study after study has concluded that adding doors to medium temperature coolers (MTC) is a great solution for a variety of issues that plague grocery retailers. Whether looking at energy use, operational costs, product safety, or consumer comfort, there is no down side to adding doors. So why do so many overlook this very basic approach? This question has been puzzling me for a long time.

Washington, D.C. -- The National Retail Federation on Thursday urged the Federal Trade Commission to move cautiously in establishing regulations for mobile payments, and said any rules that are adopted should parallel those for the underlying form of payment and not be specific to the technology.