Convenience Stores

Woonsocket, R.I. -- CVS Caremark Corp. reported Tuesday that net income for the quarter ended Sept. 30 jumped 16% to $1.01 billion, compared with $868 million in the year-ago period. Results were boosted by a 13.3% increase in revenue to $30.2 billion, which edged Wall Street’s forecast of $30.09 billion in revenue.

Drugstore revenue rose 5.5% to $15.5 billion, and same-store sales climbed 4.3%, helped by the influx of Walgreens customer who switched to CVS during the split between Walgreen Co and Express Scripts Holding Co.

West Bridgewater, Mass. -- Supervalu said Monday it has cut about 700 store-level positions at the company’s Shaw's and Star Market stores in New England.

GRAND RAPIDS, Mich. — Meijer announced that it will double match every customer's $10 Simply Give donation made Nov. 9 to 10 to help boost support for local food pantries before the holidays. The Double Match Days initiative is being launched as part of the retailer's Taste of the Holidays in-store sampling event as a way to thank customers for their continued commitment to help fight hunger in the Midwest.

West Des Moines, Iowa -- Kum & Go has announced plans to invest $90 million in building a total of 20-25 new stores in the Colorado Springs and Pikes Peak region of the Centennial State within the next five years.
 
Kum & Go, the fifth largest privately held company-operated convenience store chain in the United States, is marking the grand opening of its first three stores in Colorado Springs this week.
 

Former OfficeMax executive Ryan Vero has been named SVP and president of grocery, drug and pharmacy at Sears Holdings.

Vero spent 17 years with OfficeMax and last served as the company’s EVP and chief merchandising and marketing officer. In his new role with Sears Holdings, Vero will be responsible for the oversight, leadership and growth, both in-store and online, for the company’s grocery, drug and pharmacy businesses.

SALISBURY, N.C. — Food Lion has partnered with the American Red Cross to accept register and online donations to support disaster-relief efforts and help replenish the American Red Cross Disaster Relief funds in the wake of Hurricane Sandy. 

The 430 unit Sheetz convenience store chain will have a new president and CEO with a familiar name in 2013.

The $6.3 billion company announced that Joe Sheetz, currently EVP of finance and store development, would become president and CEO and current president and CEO Stan Sheetz would assume the title of chairman. Current chairman Steve Sheetz fills a newly create position as the company's family council chairman. The changes take effect October 2013.

Ralphs and Food 4 Less don't have stores anywhere near the Northeastern U.S., but that didn't stop the Kroger divisions from joining with other retailers providing an outpouring of support to those coping with the aftermath of Hurricane Sandy.

Seattle -- Starbucks Coffee Co. reported a higher-than expected net income of $359 million for its fourth quarter, compared with $358.5 million in the year-ago period. The company also raised its earnings estimate for the next fiscal year.

Revenue rose 11% in the fourth quarter, to $3.36 billion. Same-store sales rose 6%, fueled by higher customer traffic.

Dallas -- 7-Eleven announced that it has acquired the retail and wholesale dealer assets of San Antonio-based Tetco, closing a deal that was announced Aug. 14.

The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.

Terms of the deal were not disclosed.

The acquisition signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.