Financial/Banking

Cincinnati -- Kroger Co. on Thursday raised its full-year forecast and also projected earnings growth for its next fiscal year that was ahead of long-term goals even as its profit slipped 2% in the third quarter.

The chain reported profit of $195.9 million profit for the quarter ended Nov. 5, down from $202.2 million a year earlier. Still, its results topped Wall Street expectations.

Las Vegas -- In the latest acquisition for its Primestor-Platinum Urban Opportunity Fund I, LP, Primestor Development has acquired 4G Plaza, a neighborhood shopping center in Las Vegas, for $8.8 million.

Purchased from 4G Properties LLC, the 78,849-sq.-ft. center is anchored by El Super and shadow-anchored by The Home Depot. It is 93% leased. Other tenants include Wells Fargo, Taco Bell, Big 5 Sporting Goods and Sprint.

NEW YORK  — Republican and Democrat retail executives both have something to look forward to in 2012 as former presidents Bill Clinton and George W. Bush are scheduled to speak at major industry events.

Clinton is first up at the National Retail Federation annual convention in New York on Jan.16, while Bush will serve as the keynote speaker at the National Association of Chain Drug Stores annual meeting in Palm Beach, Fla. April 21 to 24. 

Irvine, Calif. -- Steadfast Cos. said that Richard Gann has been hired as chief marketing officer for Steadfast Capital Markets Group, the company’s securities and financial services division.

In the newly created role, Gann will oversee strategic marketing functions to assist in the overall positioning and growth of the Steadfast Income REIT, the company’s $1.65 billion public, non-traded real estate investment trust, as well as future alternative investment programs.
 

Pleasanton, Calif. -- Safeway said its board of directors increased its stock buyback authorization by $1.0 billion, to $8.0 billion.

The supermarket operator said it had repurchased $6.1 billion of its stock through the end of the third quarter and had about $0.9 billion remaining under the buyback program at that time.

The repurchase authorization does not have an expiration date, Safeway said in a statement.
 

New York City -- Lee Scott, the former CEO of Wal-Mart Stores, sold 100,000 shares in the company on Friday, reducing his direct stake in the company by about 14%, according to a filing released late on Tuesday, Barrons reported.

Scott sold the shares for $57.17 each on average. He still owns about 607,000 shares directly, not including any options he may still have, the report said. Scott had not sold shares since March 2010, when he also sold about $5.7 million worth, according to InsiderScore.com.
 

London – WorldPay, the global leader in payment processing has appointed Charlotte Speller, VP global marketing, for the e-commerce division of the business.

Charlotte joins WorldPay from Sage Pay, where she was head of marketing and PR and publisher of e-commerce and payments magazine Moving Money.

Washington, D.C. -- A report released Tuesday by the Conference Board showed that consumer confidence experienced its biggest gain in more than eight years, jumping to 56 in November from a revised 40.9 reading in the month prior. The leap was the biggest since April 2003 and exceeded the most optimistic forecast by Bloomberg News.

The improvement in consumer attitude may help sustain household purchases, which account for about 70% of the economy, after sales climbed on both Black Friday and Cyber Monday.