Corporate Governance

Minneapolis – Supervalu Inc. reported a higher net loss and lower net income during the first quarter of fiscal 2014, compared to the first quarter of the prior fiscal year. Net loss totaled $105 million, up from $18 million year earlier, although one-time after-tax charges of $139 million pushed Supervalu into the red. Net sales were $5.16 billion, a 1.5% drop from $5.24 billion a year earlier.

MINNEAPOLIS — Supervalu reported net sales of $5.2 billion for the first quarter of fiscal 2014, down 1.5%, and net earnings of $85 million, or $0.34 per diluted share. 

The decrease in net sales primarily reflects a decline in identical store sales of negative 3% percent for retail food and negative 1.9% for Save-A-Lot. Identical store sales for corporately operated stores within the Save-A-Lot network were negative 1.2%.

Cleveland – The Sherwin-Williams Company reported increases in net sales, diluted income per share and same-store sales during second quarter fiscal 2013. Consolidated net sales increased 5.5% to a record $2.71 billion in the quarter, up from roughly $2.6 billion the previous year. The company credited acquisitions, with some offsetting negative impact from unfavorable currency translation rates, for the net sales boost.

Another sign of further improvement in the nation’s housing market were results from leading paints manufacturer and retailer Sherwin-Williams, whose net sales for the quarter ended June 30 were $2.71 billion, up 5.5% from the same quarter last year. 

Net sales in the Paint Stores Group increased 8% to $1.61 billion. The company's total net income for the quarter was $257.3 million, up 12.9% from the second quarter of 2013.

Seattle -- Nordstrom has announced plans to open a 35,000-sq.-ft. Nordstrom Rack at Palm Beach Outlets now under construction in West Palm Beach, Fla., in the fall of 2014.

ATLANTA — Coca-Cola’s has appointed Santander UK plc CEO Ana Botín to the company’s board of directors.

Santander UK plc is one of Britain’s leading personal financial services companies and a subsidiary of the Santander Group, the largest bank in the Eurozone.

New York -- RKF has arranged the $9.25 million sale of a 6,800-sq.-ft. mixed-use building in Manhattan’s Bowery neighborhood. RKF represented the seller, 325 Bowery Development LLC, and the buyer, Atlas Bowery LLC, an affiliate of Atlas Capital Group.

Constructed in 1990, the building consists of retail and loft-style residential space on four floors above a basement and sub-basement. Peels NYC café occupies the ground floor.

Charlotte, N.C. -- Regional shopping center company Crosland Southeast has acquired 24 former Blockbuster stores from Blockbuster Corporate, spanning North and South Carolina, Louisiana, Tennessee and Florida. Blockbuster vacated all stores at closing, and Crosland Southeast has already sold 11 of the 24.