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  • Mall of America owner to complete troubled Xanadu Project

    New York City -- Triple Five Worldwide Development Co. LLC, owner of the Mall of America in Minnesota, reached a deal with lenders and New Jersey Governor Chris Christie to complete and expand the stalled Meadowlands Xanadu entertainment complex in East Rutherford, N.J., Bloomberg reported.

  • Ingles Markets reports positive Q2 earnings

    Asheville, N.C. — Net sales and net income for Ingles Markets realized a 4% and 38% increase, respectively, during the second quarter ended March 26, the retailer announced Friday.

    Ingles reported that second-quarter net sales rose $33.4 million to $870.4 million, while second-quarter net income increased from $5.6 million to $7.7 million.

  • Southeast supermarket chain reports positive Q2

    ASHEVILLE, N.C. — Net sales and net income for Ingles Markets realized a 4% and 38% increase, respectively, during the second quarter ended March 26, the retailer announced Friday.

    Ingles reported that second-quarter net sales rose $33.4 million to $870.4 million, while second-quarter net income increased from $5.6 million to $7.7 million.

  • Lots of talk, but where’s the action?

    Mike Duke presented at the Barclay’s conference Tuesday, and, as we predicted in last week’s WNN, he did not speak about first-quarter sales, which the company will report on May 17. Instead Duke focused on such broad goals as growth, leverage, but offered little detail on how the company plans to achieve them.

  • Kohl’s adds Rock & Republic label

    Menomonee Falls, Wis. -- Kohl’s Corp. has added another exclusive label to its lineup with Rock & Republic Apparel. The company signed a long-term licensing agreement with R&R Apparel Co. LLC and its parent company, VF Corp.

    Rock & Republic will launch in men’s and women’s apparel and footwear in spring 2012. It may expand into children’s accessories and home goods over time. Nearly half of Kohl’s sales in 2010 came from exclusive brands.

  • Safeway Q1 profit falls on tax charge

    Pleasanton, Calif. -- Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.

    The company earned $25.1 million for the quarter, compared with $96 million a year earlier. This includes a tax charge related to a plan to pay down its U.S. debt with part of a $1.1 billion dividend in cash and debt from its Canadian operations.

  • J.C. Penney’s The Foundry Big & Tall opens in Dallas

    Plano, Texas -- The Foundry Big & Tall Supply Co., a new specialty retail concept for big and tall men from J.C. Penney, on Thursday made its retail debut in the Dallas area. Approximately 10 stores are expected to open in the Dallas and Kansas City, Mo., markets by the end of May. The company plans to expand the concept nationwide to 100 stores by 2013, reaching a total of 300 stores over the next five years.

  • Cabela’s Q1 profit up on strong sales

    Sidney, Neb. -- Cabela's said Thursday that stronger revenue helped its fiscal first-quarter profit more than double from results weighed down by a hefty charge a year ago.

    The reported net income of $17.8 million in the three months ended April 2, up from $8.1 million a year earlier.

    The year-ago period included an $11.9 million charge related to a 2009 FDIC compliance examination.

    Revenue increased 5% to $586.7 million, from $559.6 million. Same-store sales rose 8.9%.

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