Convenience Stores

Thanks to the Internet, a lot of what passes for news these days is a report based on a report based on a report with few if any filters in place to verify the accuracy of information. With that qualification in mind, Bloomberg this week reported that Walmart’s market share in China declined to 7.5% in the fourth quarter of 2010 compared to 8.2% in the second quarter. The news agency said its report was based on a report in the English language Shanghai Daily newspaper whose report was based on a report from a market research company identified as CTR.

Ankeny, Iowa -- Casey’s General Stores has signed a definitive purchase agreement to acquire five convenience stores from QuikTrip Corp. All of the stores are located in the Springfield, Mo., metropolitan area.

The stores will be immediately rebranded to Casey’s once the transaction is completed.

Old Bridge, N.J. -- R.J. Brunelli & Co. said Thursday that it has completed a series of leases that will bring major retailers, restaurants, recreational facilities and personal services to sites in Middlesex, Monmouth, Ocean, Mercer, Union, Essex, and Bergen counties in central and northern New Jersey.

New York City -- Walgreens said Thursday its same-store sales in February rose 3.1%, but the growth was slower than Wall Street expected. Analysts expected, on average, expected a 3.5% increase.

The company said pharmacy same-store sales rose 2.7% but were hurt by generic drug introductions over the last year. Non-pharmacy, or front-end, revenue increased 3.8%.

Rite Aid Corp. said Thursday that its same-store sales rose 1% in February, less than the 1.5% increase analysts had predicted.

Matthews, N.C. -- Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company." In February, Nelson Peltz's Trian Fund offered $55 to $60 per share, or about $6.99 billion, for Family Dollar.

The chain said it also adopted a shareholder rights plan, commonly called a "poison pill," that would significantly dilute shares if a takeover attempt proceeds.

 ISSAQUAH, Wash. and WESTBOROUGH, Mass. -- The past three-months were favorable to the warehouse sector, as both Costco and BJ’s Wholesale reported quarterly results that were in-line with or beat analysts’ expectations.

SAN JOSE, Calif. -- Fresh & Easy Neighborhood Market has entered Northern California with the opening of its first store in San Jose. The grocer also opened another Bay Area store in Danville today.

Westborough, Mass. -- BJ's Wholesale Club's fiscal fourth-quarter net income fell 81% on a one-time $41.1 million charge related to store closings, restructuring and asset impairment. But its adjusted earnings beat expectations.

The wholesale club operator earned $10.2 million for the quarter, compared with $54.5 million a year ago.

Net sales for the fourth quarter ended Jan. 29, increased by 7.4% to $2.90 billion, and comparable club sales increased by 3.8%, including a contribution from sales of gasoline of 2.1%.

San Jose, Calif. -- Fresh & Easy Neighborhood Market on Wednesday celebrated the opening of its first locations in Northern California, in San Jose, and Danville.

The openings are the first of more than a dozen Fresh & Easy stores set to open early this year in Northern California. The chain, which opened its first stores in 2007, currently has 166 locations.
 

New York City -- Retail sales in February rose in most categories ranging from clothing to furniture, despite winter storms and rising gas prices, MasterCard Advisors' SpendingPulse, which tracks spending in all forms including cash. While the increase maintains the positive performance that began in fall 2010. However, February’s year-over-year growth rates were smaller in most categories than those recorded in the November 2010 through January 2011 period.