Convenience Stores

By Giles Sutton and Mark Wuller, [email protected], [email protected]

Asheville, N.C. — Net sales and net income for Ingles Markets realized a 4% and 38% increase, respectively, during the second quarter ended March 26, the retailer announced Friday.

Ingles reported that second-quarter net sales rose $33.4 million to $870.4 million, while second-quarter net income increased from $5.6 million to $7.7 million.

WALTHAM, Mass.  -- Kroger is now offering its shoppers the ability to redeem SavingStar e-coupons when they use their Kroger Plus Card at checkout. According to a press release from SavingStar, it is the only national paperless grocery coupon service, and the addition of Kroger to the SavingStar network of retailers increases the number of grocery and drug stores offering their customers digital coupons through SavingStar to more than 24,000 stores nationwide. 

New York City -- SuperValu plans to increase the footprint of its value division Save-A-Lot by 160 new stores this year, GlobeSt.com reported.

“This past year we added 92 net Save-A-Lot stores, and this fiscal year we’re looking to add another 160 net stores,” a spokesman said in the report.

Pleasanton, Calif. -- Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.

The company earned $25.1 million for the quarter, compared with $96 million a year earlier. This includes a tax charge related to a plan to pay down its U.S. debt with part of a $1.1 billion dividend in cash and debt from its Canadian operations.

Seattle -- Starbucks on Wednesday reported that its second-quarter profit rose 20% as more customers visited its stores, and it raised its earnings forecast for the year.

The company said it earned $261.6 million for the quarter ended April 3, up from $217.3 million a year earlier. Revenue rose nearly 10% to $2.79 billion.

Dallas -- 7-Eleven has signed an agreement to purchase Wilson Farms, a Buffalo-based convenience store chain with 188 locations in New York State, with an expected closing in the second quarter. Terms of the deal were not disclosed.

New York City -- Wal-Mart Stores CEO Mike Duke said rising gas prices are hurting the chain’s main customers, who are having an even harder time stretching their dollars to the next payday than they did a year ago.

"There's no doubt that rising fuel prices are having an impact on our customers," said Duke at an event that was part of The Wall Street Journal's executive breakfast series,  according to the Associated Press. "There's more pressure."

Camp Hill, Pa. -- Rite Aid's April sales rose thanks in part to bustling business at its pharmacies.

Rite Aid’s same-store sales rose 0.5% over the four weeks ended April 23, with pharmacy revenue up 1%. Sales of nonpharmacy fell 0.4%. Prescriptions filled at those stores rose 0.7%.

Total April sales fell 0.4% to $1.95 billion from $1.96 billion. The company had 4,705 stores as of April 23, 68 less than a year ago.

Moline, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management announced that Citi Trends is entering Moline, Ill., with a lease for 10,137 sq. ft. at City Line Plaza.

The new store is slated to open in June.

The 112,849-sq.-ft. City Line Plaza is anchored by Jewel/Osco and Family Dollar, with other tenants including Papa Johns, Hallmark and Rent-A-Center.