Supermarket/Grocery

The nation’s largest supermarket operator reported profit that surpassed Wall Street expectations and raised its annual forecast.

One well-known technology provider takes the top spot in installed worldwide revenue for both retail software and retail software-as-a-service (SaaS).

According to a new study from IHL Group, “Total Retail Software Market,” Microsoft is ranked number one in both categories. IHL estimates the total worldwide retail software market is currently worth $44 billion and will grow 48% in the next five years. Microsoft’s share of retail software is estimated at $5.98 billion in installed revenue.

The nation’s largest supermarket operator reported profit that surpassed Wall Street expectations and raised its annual forecast.

Kroger Co.’s third-quarter earnings rose 18% to $428 million.

Revenue inched up 0.4% to $25.08 billion for the quarter, ended Nov. 7. missing Street forecasts of $25.22 billion. Kroger cited lower fuel prices as impacting sales.

Same-store sales, excluding fuel, rose 5.4%, more than expected. It was the chain’s 48th consecutive quarter of positive same-store sales growth (excluding fuel.)

Save-A-Lot, the deep-discount division of grocery giant Supervalu, on Wednesday named a supermarket veteran with more than 30 years of experience as its new CEO. Eric Claus, 59, takes the reins of Save-A-Lot after spending the past two-plus years as chairman, president and CEO of Red Apple Stores Inc., a chain of value retail stores based in Canada.

Phoenix-Mesa-Scottsdale, Ariz. -- Kimco Realty Corp. announced that it purchased Christown Spectrum power center in the Phoenix-Mesa-Scottsdale, Arizona for $115.3 million. The property is an 850,000 sq. ft. center situated one mile east of Interstate 17 and lies adjacent to the second-busiest light rail station in Phoenix.

Wisconsin-based, 21-store grocery retailer Festival Foods takes food safety so seriously that it no longer thinks about it.

That’s because Festival Foods has chosen the food safety platform from ReposiTrak to automatically manage regulatory and business documentation compliance within its supply chain.

Virginia Beach, Va. -- Wheeler Real Estate Investment Trust announced that the company has entered into a contract to acquire 13 properties located in South Carolina and one property located in Georgia from a private third party. The company expects to close on the properties in first quarter 2016 and will use a combination of cash, debt and operating partnership units to acquire the assets.

The nation’s largest supermarket operator has been on a tear since 2014, increasing its portfolio through acquisitions, reports The Cincinnati Enquirer. “We could get more deals by Kroger – and we should get more deals, more stores and more growth,” Scott Mushkin, an analyst with Wolfe Research in New York, said in the report. [The Cincinnati Enquirer]