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Food trips to nontraditional stores — mass, dollar, drug — on rise
NEW YORK — A recent consumer survey released by AlixPartners found that a little more than half of all consumers (51%) identify a traditional grocery retailer as their point of destination when making a grocery trip. Such mass merchants as Walmart are capturing 30% of those trips, and the continued emphasis on fresh in the drug channel has drawn 5% of those trips into the mainstream pharmacy.
Dollar stores, another channel that has in the past few years made a significant push into food items, also draws 5% of all grocery trips.
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Express Q2 profit falls 43%, but beats Street
Columbus, Ohio -- Express reported Wednesday that profit for the second quarter fell 43% to $12.6 million, compared with $22.1 million in the year-ago period. Results still topped Wall Street expectations, and the company has upped it s forecast for the third quarter and full year.
Revenue rose nearly 10% to $446 million from $407.3 million, beating analysts' average forecast for $439.6 million in revenue. Same-store sales rose 6%.
Around the world, resurgent retail is inspiring the industry with creativity and challenging traditional ways of doing business. The store is evolving into a fluid idea that fits the mobile, global customer in search of new experiences to share.