Research Topic

Camp Hill, Pa. -- Rite Aid Corp. surprised Wall Street on Thursday by paring its losses more than expected in the drug store retailer’s fiscal first quarter.

Rite Aid reported that it lost $65.5 million in the quarter ended May 28, compared with a loss of $76 million in the year-ago period. The retailer cited cost tightening and same-store sales gains for the improved performance.

Revenue was flat at $6.39 billion, the second straight quarter the company's revenue held steady. Before that, revenue fell for 10 consecutive quarters.

Union, N.J. -- Bed Bath & Beyond reported Wednesday that net income for the first quarter jumped 31% to $180.6 million, compared with $137.6 million in the year-ago period.

Revenue surged 10% to $2.11 billion, and same-store sales rose 7%. Results surpassed Wall Street expectations of $2.07 billion in revenue.

Bed Bath & Beyond has raised its outlook, now expecting full-year earnings to rise 15% to 20% over last year.
 

WASHINGTON — The vitality of consumer packaged goods companies is healthy again, according to a new report issued by the Grocery Manufacturers Association and PricewaterhouseCoopers on Wednesday.

In the June 9 edition of SiteTalk, we referenced a survey that found Fifth Avenue in Manhattan to be the most expensive place in the world to operate a store -- and asked you if it was worth the expense. Here is what one reader had to say.

NEW YORK — Private-label sales across all three major retail channels reached new highs in 2010, according the Private Label Manufacturers Association.

Washington, D.C. -- A Bloomberg report on Tuesday said that the women who sought to sue Wal-Mart Stores for gender bias on behalf of 1.5 million co-workers said they will continue the fight in smaller lawsuits in lower courts and claims with the U.S. Equal Employment Opportunity Commission.

The U.S. Supreme Court on Monday said the women failed to prove that Wal-Mart had a nationwide policy that led to gender discrimination, precluding a class action and forcing the plaintiffs to pursue claims on their own.

Boston -- A survey released Tuesday by the Boston Consulting Group found that a growing number of consumers around the world are growing more anxious about the future, and are planning to reduce or maintain -- but not increase -- their spending.

New York City -- Do you think Apple retail guru Ron Johnson will transform J.C. Penney Co.?

Click here to register your opinion with the Chain Store Age poll.

Allegations of illegality and intimidation are par for the course whenever union organizers lose an election, so it should have come as no surprise when workers at a Target in Valley Stream, N.Y. voted against unionization.

The National Labor Relation Board announced this past weekend that 137 workers voted against joining the United Food and Commercial Workers union while 85 workers supported the union. Had the drive been successful it would have been the first time workers at any of Target’s store were represented by a collective bargaining agreement.

The most recent Leading National Advertisers annual report from Advertising Age shows Target posted the biggest increased in ad spending in 2010 among conventional retailers. The total amount the company spent increased 12% to $1.508 billion compared with $1.246 billion the prior year. That put the company 18th on the Ad Age list of the nation’s 100 largest advertisers. Only two retailers spent more than Target.