Large Chains

ROCHESTER, N.Y. — Escalating food costs may have a firm grip on consumers' wallets, but one retailer is promising "to keep prices low and [its] quality and service high."

Wegmans this week said that it will not change the prices on 40 of the products most important to families through the end of 2011. According to the company's website, many of the items listed include store-brand products and produce. Wegmans also noted that counting different varieties and sizes, about 200 items are covered by the company's price pledge.

Schaumburg, Ill. -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Panda Express signed a lease for 2,400 sq. ft. of space at Scharrington Square in Schaumburg, Ill., a northwest suburb of Chicago.

Panda Express is slated to open this summer.

Renewing leases at the 187,812-sq.-ft. Scharrington Square are anchor Jewel/Osco for 64,925 sq. ft. of space, and Panera Bread for 4,500 sq. ft. of space, which has plans to add a drive-through service.

Bentonville, Ark. -- Wal-Mart Stores reported Tuesday that earnings for the quarter ended Jan. 31 jumped 27% as its international stores posted strong results. In the United States, however, the retailer posted its seventh straight quarterly sales decline, falling short of its own projections for the holiday period.

St. Louis -- Discount grocer Save-A-Lot said Monday it will open five new stores in Chicago’s South Side neighborhoods, nearly doubling its store counts in the area.

The subsidiary of Supervalu said the new stores will open on Feb. 24. The additions will give Save-A-Lot 13 Chicagoland stores. The grocer said it expects to open five more locations in the greater Chicago area by February 2012.

Mexico City -- Wal-Mart de Mexico SA reported Tuesday that profit for the fourth quarter increased 14%, citing newly acquired stores in Central America for the improved performance.

The Mexican unit of Wal-Mart Stores said that net income rose to $539 million in the fourth quarter, up from $474 million in the year-ago period.

Revenue rose 25% to $8.3 billion. 

Walmex recently acquired stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

NEW YORK — Discount grocer Aldi has opened its first-ever New York City-area store in the borough of Queens.

The store, which is located in Rego Park, marks the first of three grocery stores the company plans to open in New York, including new locations in the Bronx and Bay Shore, Long Island.

Aldi, which offers a limited assortment of items, said it will bring its standard floor plan to Queens, which includes wider-than-typical 8-ft. aisles.

Walmart and Target are being blamed for driving shares of Canadian retailers to their lowest level in six years, according to a Bloomberg report this week. Bloomberg said the ratio between the S&P/Toronto Stock Exchange Retailing Index and its counterpart in the Standard & Poor’s 500 narrowed to 4% on Feb. 11, the smallest in six years. The retailing index has retreated 2.3% this year, while a separate index of companies that sell food and basic necessities has lost 1.1%, the biggest declines among 24 industries in the S&P/TSX. 

MONTVALE, N.J. — Bankrupt grocer A&P, which just revealed plans to shutter 32 stores in six states, has bolstered its merchandising and marketing team with the appointment of six new executives.

A&P filed for bankruptcy in December 2010 and is in the midst of a turnaround aimed at reducing structural operating costs and enhancing value for shoppers. On Feb. 15, the company announced it is seeking court approval to close 32 stores by the end of the company's fiscal first quarter.

The new executives are:

London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.

The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5% between 2010 and 2015, taking sales to euro106 billion ($143 billion).

Phoenix -- Private equity firm Apollo Management will acquire majority ownership in Phoenix-based Sprouts Farmers Market. Apollo plans to combine Sprouts operations with another of its holdings, Henry's Farmers Market, based in Irvine, Calif. The combined company will operate under the Sprouts Farmers Market name.

Terms of the deal, expected to close in the second quarter of this year, were not disclosed. The combined grocers will have 98 stores and generate annual sales that exceed $1 billion.