Large Chains

The leadership transition Costco announced this week was hardly unexpected considering outgoing CEO Jim Sinegal is 75, but it does underscore what arguably has been one of the greatest distinctions between Costco and Sam’s clubs for the past 25 years, namely the stability of senior leadership.

Issaquah, Wash. -- Jim Sinegal, the much-admired CEO and co-founder of Costco Wholesale Corp., plans to step down effective Jan. 1. The chain said its board has elected the company's current president and COO, Craig Jelinek, to succeed Sinegal.

“Costco has a very strong culture and a deep bench of management talent," said Sinegal. "I have total confidence in Craig's ability to handle his new responsibilities and feel we are fortunate as a company to have an executive of his caliber to succeed me as chief executive of Costco."

London -- Grocery giant Tesco PLC said Wednesday it is pulling out of Japan, which means shuttering 129 small, leasehold-owned stores in the Greater Tokyo area, which employ 4,000 people. The country is the smallest of Tesco’s international retail businesses, and the weakest for sales growth in the 2010-2011 fiscal year.

“Having made considerable efforts in Japan, we have concluded that we cannot build a sufficiently scalable business,” said Philip Clarke, CEO.

Greensboro, N.C. -- Specialty grocer The Fresh Market reported Wednesday that net income for the second quarter rose to $10.5 million from $6.9 million a year earlier.

Sales rose 13.6% to $259.5 million and same-store sales increased 4.6%, marking the seventh consecutive quarter of comps growth of 4% or greater.

JACKSONVILLE, Fla. — Inflationary increases, sales growth at remodeled stores and a boost from fuelperks! helped drive up Winn-Dixie's second quarter identical-store sales, while net sales dipped.

According to Winn-Dixie's chief Peter Lynch, Winn-Dixie is riding a strong headwind into fiscal 2012 powered by a number of influencers — a marketing program that better sustains margins, its loyalty program Fuelperks!, an improved stocking system and a significant focus on improving the customer experience.

Cincinnati -- Kroger Co. will hold a moment of silence of September 11, 2011, in its 2,449 stores nationwide. Stores located in the Eastern Time zone will pause for a moment of silence to remember the victims and honor the heroes of the 9/11 tragedy at 8:46 a.m., the time when American Airlines Flight 11 struck the World Trade Center's north tower ten years ago.

Because of the time difference, Kroger's stores in Central, Mountain and Western Time zones will pause for a moment at a locally-designated time on Sunday morning.

Los Angeles -- X Team International announced that Los Angeles-based partner Cypress Retail Group has been retained by Property Development Centers, a wholly owned subsidiary of Safeway Inc., to serve as the leasing agent for four shopping centers under development and redevelopment in the Los Angeles area.

The four shopping centers, located in La Canada, La Crescenta, Eagle Rock and Pasadena, are all being redeveloped, renovated or expanded, and are anchored by Vons, a Los Angeles-based, Safeway-owned grocery store.
 

Miami Beach, Fla. -- Terranova Corp. said that men’s fashion retailer Romo Italian Designers will open a 1,020-sq.-ft. store at the Crossing Shopping Village, in Miami.

The location is a first for the retailer under the Romo Italian Designers banner. The store is slated to open by the end of August. 

The Crossings Shopping Village is anchored by Publix, and tenanted by CVS, Blockbuster Video and Chicken Kitchen.
 

Jacksonville, Fla. -- Winn-Dixie Stores said Monday that its fourth-quarter net income fell 48% amid tough competition. The chain attributed the drop to the quarter being a week shorter this year than it was last year.

Winn-Dixie's net income for the quarter that ended June 29 was $7.3 million versus $14 million in the year-ago period.

Revenue fell 4% to $1.62 billion from $1.68 billion last year. Same-store sales rose 3.2%. Although average amount customers spent per visit rose 3.9%, 0.7% fewer shoppers came in, the company said.

MONTVALE, N.J. — Grocer A&P officially opened on Friday its new Superfresh store, featuring a full-service pharmacy and expanded international offerings, in Philadelphia’s Northern Liberties neighborhood.

The 51,000-sq.-ft. neighborhood store marks A&P’s first new store in Pennsylvania in more than 10 years, and brings nearly 120 new jobs to the community.