Corporate Governance

Canadians love a deal even more than American’s judging from the strong same-store sales and surging profits produced by the nation’s leading dollar store operator.

The 721 unit Montreal-based Dollarama chain said its first quarter same-store sales increased by a weather-aided 8.1%, and total first quarter sales increase 14.9% to $398 million for the period ended April 29. Earnings per share increased 40% to 56 cents from 40 cents. The gross margin rate increased to 36.3% of sales from 35.7% and expenses declined to 18.5% of sales compared to 19.7%.

Overall, this month saw gain in flyer distribution as well as the size of flyer. The largest push of this month came from Walmart with more than 100% increase in flyer drops this month as compared to same month last year. Walmart dropped almost three flyers per market as compared to none in the second week of May this year. Also, a 26-page flyer was dropped in the first week as compared to 12-page flyer previous year.

PLEASANTON, Calif. — Safeway has transitioned to using reusable product containers (RPCs), rather than corrugated boxes, to ship many types of produce from the farm fields, through the distribution channel and to final store destination. This transition eliminated the use of over 17 million pounds of corrugated boxes.

Target held steady on the promotional front in May with the number of circulars and total pages consistent with the prior year. For a look at Target’s activity and those of other leading retailers check out the last report from Market Track.

 

 

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NEW YORK — Martha Stewart Living Omnimedia has appointed Michael Robinson to the newly created position of VP e-commerce. Robinson brings retail, direct-to-consumer and digital experience working with popular brands such as Anthropologie, Smith & Hawken Ltd., and Banana Republic Inc., and will be responsible for building out the company's e-commerce presence, including the site the company is jointly developing with JCPenney, which is slated to launch in 2013.  He is reporting to Lisa Gersh, president and COO of MSLO.

MINNEAPOLIS — Canned peaches, criminal records and political contributions were among the top shareholder concerns expressed at Target’s annual meeting on Wednesday afternoon.

The St. Jude Children’s hospital is the beneficiary of a bicycle ride slated for this weekend that wouldn’t be happening without the support of Target.

Motocross champion Ryan Dungey and Target are hosting the MN Major River-to-River Ride with Ryan Dungey on Sunday, July 15, featuring rides of different lengths and skill levels. The ride takes place the day after Dungey competes at Spring Creek in Millville, Minn. as part of the Lucas Oil Pro Motocross Championship.

New York -- Canned peaches, criminal records and political contributions were among the shareholder concerns expressed at Target’s annual meeting on Wednesday afternoon.

Old Bridge, N.J. -- Driven by new big-box store closures, the vacancy rate in retail properties along northern New Jersey's six major shopping corridors edged up to 8.2% in April from 8.1% a year ago and 8.0% in 2010, according to R.J. Brunelli & Co.