Retail

Cincinnati -- The Kroger Co. said Thursday it will increase its quarterly dividend by 30% to 15 cents per share, payable Dec. 1.

The grocer said the move is prompted by a strong confidence in its business strategy.
 

Dallas -- Fast-casual bakery concept Corner Bakery Café said Thursday it has executed a deal with a franchise group to open the chain’s first restaurants in the Pacific Northwest beginning in 2013.

Northwest Bakery Cafe, a group of restaurant operators that owns 95 Jack in the Box locations, is slated to open 18 Corner Bakery franchised restaurants in and around Seattle over the next seven years.

BUCKEYE, Ariz. — Walmart boosted its sustainable reputation Thursday with the announcement of a new solar initiative at its distribution center near Phoenix.

The retailer will outfit the DC with more than 14,000 solar panels -- making it Walmart's largest solar installation to date. The panels will cover the 1,000 sq. ft. building and parking canopies. The panels will produce up to 30% of the center's energy needs and generate up to 5.3 million kilowatt hours of renewable energy per year, according to Walmart.

FORT WORTH, Texas — Pier 1 Imports continues on a positive trajectory, reporting its 12th consecutive quarter of earnings and same-store sales growth.

For the second quarter, the company reported net income of $26.2 million, or 24 cents per share, compared with net income of $16.6 million, or 14 cents per share, for the same period last year.

By William Dudley, [email protected]

We, as a consumer society, are increasingly becoming “mail-order,” or more precisely, online patrons.  Companies such as Amazon, Ebay, Overstock.com, and other specialty retailers are putting increased pressure on traditional brick and mortar shops by offering customers mobile-friendly apps and browsers, adding convenience to their shopping experience.  

Jacksonville, Fla. -- Stein Mart said Thursday that it received a notice of non-compliance on Wednesday from Nasdaq; specifically the retailer has not filed its second-quarter report.

By rule, Stein Mart has 60 days to submit a plan to regain compliance.

The retailer cited the replacement of its legacy merchandise information system, which delayed accounting reconciliations. It said it will file within the prescribed 60-day time frame.

Seattle -- It’s official: Nordstrom is expanding into Canada. The department store chain on Thursday announced that it will open its first full-line stores in Canada, starting in fall 2014. It named veteran Nordstrom executive Karen McKibbin, most recently VP president and regional manager of Northern California and Hawaii, as president of Nordstrom Canada.

Nordstrom said is partnering with commercial real estate company Cadillac Fairview Corporation Limited to lease four stores at shopping centers in Calgary, Ottawa, Toronto, and Vancouver.

Bentonville, Ark. -- Wal-Mart Stores Inc. said Thursday it has launched an expansion of its solar initiative in Arizona at its Buckeye distribution center near Phoenix.

According to the retailer, the distribution center will feature Walmart's largest solar installation to date with over 14,000 solar panels on a 1 million-sq.-ft. building and parking canopies that will produce up to 30% of the DC’s energy needs.

The solar panels will generate up to 5.3 million kilowatt hours of renewable energy per year.