Corporate Governance

Snyder’s-Lance is promising an innovation filled product pipeline for 2015 that includes meal-replacement snacks to drive growth for retailers following a pivotal second quarter for the company.

Brussels, Belgium – Delhaize Group, parent company of U.S. supermarket chains including Food Lion and Hannaford Bros., swung to a net loss of $60.2 million in the second quarter of fiscal 2014, compared to net income of $140.3 million in the same period a year earlier.

Impairment charges in Delhaize’s Serbian business and loss of market share in its home Belgium market contributed to the retailer’s poor profit performance. Revenue rose 0.5% to $7.04 billion, from $7.01 billion. U.S. same-store sales rose 3.3%.

Montvale, N.J. – The Great Atlantic & Pacific Tea Company (A&P) is using the IBM FlashSystem V840 to compress live data and speed access to Big Data. The FlashSystem now integrates into a new Control Enclosure with IBM’s SAN Volume Controller (SVC) data virtualization system, a key component of IBM’s Software Defined Storage solution.

Stein Mart is marking its ninth consecutive quarter of positive sales. The company reported total sales of $75.3 million for July, a 0.9% increase from $74.6 in the prior year.

The company has generated $298.1 million in total sales for the second quarter so far, a 2.5% increase from $290.9 in the year-ago period. Comparable-store sales have increased 1.3%.

New York -- Costco Wholesale Corp. fell slightly short of estimates in July even as most other retailers who still report same-store monthly sales outperformed expectations.

The warehouse club giant reported a 5% rise in same-store sales for July, excluding gasoline, falling short of estimates for a 5.7% increase. The company said foreign currencies had a slightly negative impact. It was the first time in five months that Costco's sales have increased less than expected. Costco's total revenue for the month increased 9% to $8.55 billion.

Costs related to the exit of its Rainbow business in the Twin Cities markets, as well as the upcoming closure of a distribution center, helped push Roundy’s to a net loss of $13.5 million in the second quarter of fiscal 2014.

Net income for the quarter was $11.6 million, while net sales from continuing operations for second quarter 2014 were $971.9 million, an increase of 12% from $868.3 million for second quarter 2013. Same-store sales dropped 2.2%.

San Francisco -- Banana Republic in late August will extend its digital reach as part of a select group of brands partnering with Instagram on paid advertising — a first-time amplification for the brand on the platform.

Burlington, Mass. -- Demandware, a provider of enterprise cloud commerce solutions, announced that Tervis Tumbler Company selected the Demandware Commerce platform to enhance digital commerce operations, grow online revenue and expand internationally. Tervis signed with Demandware in second quarter 2014.