Financial/Banking

Costco has a new credit card partner for its stores, and it’s a brand name that shoppers may already be very familiar with.

The retailer has entered into a new co-brand credit card program agreement with Citi and an acceptance and co-brand incentive agreement with Visa.

Matthews, N.C. – Howard Levine, CEO of Family Dollar Stores Inc., intends to reduce his holdings of company stock for the second time in a month. In an SEC filing, Levine said he will sell up to two million shares of Family Dollar stock in an effort to diversify his portfolio.

In February 2015, Levine sold about 1.77 million shares of Family Dollar stock for $134.5 million. Family Dollar is in the process of being acquired by Dollar Tree Inc.

Samsung Electronics Co. has thrown another hat into the mobile payment ring with its recent smartphone launch.

The company has unveiled two new flagship Galaxy smartphones and a mobile payments system in partnership with MasterCard. The new Samsung Pay will enable MasterCard cardholders to use their new Samsung Galaxy S6 phones for everyday in-store purchases. (Both phones will ship with the technology built-in.)

Lakeland, Fla. -- Publix Super Markets turned in another great quarter, a 7.4% increase in profits and a 6.9% increase in sales in the fourth quarter.

The reported a profit of $453.3 million in the fourth quarter, compared to $422 million in the year ago period. Net sales totaled $7.9 billion; same store sales increased 6.4%.

Publix continues to be a blockbuster in its industry, as the grocery chain posted a 7.4% increase in profits in the fourth quarter.

The Florida-based retailer reported a profit of $453.3 million in the fourth quarter, compared to $422 million in 2013. Earnings per share for the fourth quarter increased to $0.58 for 2014, up from $0.54 per share in 2013. Publix reported net sales of $7.9 billion; same store sales increased 6.4%.

Barcelona -- Samsung Electronics Co. added new fire to the mobile payment market and its competition with Apple, unveiling two new flagship Galaxy smartphones and a mobile payments system in partnership with MasterCard.

Issaquah, Wash. - Costco Wholesale Corp. has entered into a new co-brand credit card program agreement with Citi and an acceptance and co-brand incentive agreement with Visa. Under the arrangements, Citi, an issuer of consumer credit cards, will become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the U.S. and Puerto Rico beginning April 1, 2016.

Dublin, Calif. – Costs and expenses did not grow at the same rate as sales during the fourth quarter of fiscal 2014 at Ross Stores Inc., resulting in significant net income growth compared to the prior year period. Ross Stores’ net earnings grew 14% to $248.53 million, from $217.95 million.

Sales climbed 10% to $3.03 billion, from $2.74 billion. Same-store sales rose 6%.