Strategy

City of Industry, Calif. -- Hot Topic reported Wednesday that its loss for the fiscal first quarter widened to $7.7 million, compared to a net loss of $1.8 million last year.

The first quarter results include $12.4 million of expenses for the implementation of the previously announced charges for strategic business changes and cost reduction plan.

Revenue dipped 0.8% to $161.3 million compared with $162.6 million for the first quarter last year. Same-store sales edged up 0.2%.

FAIRFIELD, Conn. — The Stop & Shop Supermarket Company announced that it has finalized its acquisition of five New Jersey Shore-area Foodtown supermarkets previously owned by Norkus Enterprises Inc. The transaction involves stores in Freehold Township, Manalapan, Neptune City, Point Pleasant Beach and Long Branch. Stop &Shop currently operates 10 stores in Monmouth and Ocean counties.

Washington, D.C. -- The National Retail Federation Wednesday launched a major nationwide 60-day lobbying, grassroots and media campaign aimed at ensuring that a new federal law saving retailers and their customers more than $1 billion a month by lowering “swipe” fees banks charge to process debit-card transactions takes effect in late July as scheduled.

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.

Westborough, Mass. -- BJ’s Wholesale Club reported Wednesday that profit for the quarter ended April 30 rose to $33.7 million, beating its guidance range of $29.5 million to $31.5 million.

Net sales for first quarter 2011 increased 10% to $2.77 billion and same-store club sales rose 6.3%.

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.

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.

Wilmington, N.C. -- Efficient Energy America (E2America) announced that Platinum Corral, a multi-state franchise operator of Golden Corral restaurants, has signed an agreement to install the supplier’s intelligent heating, ventilation and air-conditioning (HVAC) control system in all 30 of its stores.