Supply Chain & Merchandising

Nashville, Tenn. -- Genesco Inc.'s profit topped estimates for the eighth quarter in a row amid increased store traffic. The company raised its full-year earnings outlook for the second time this year.

Genesco, which operates stores under such banners as Journeys, Lids, Johnston & Murphy and Schuh banners, said its adjusted quarterly profit rose to $12.1 million from $5.2 million in the year-ago period.

Revenue rose 15% to $543.5 million.Same-store sales were up 4%.

Minneapolis -- Supervalu announced that it is restructuring its executive leadership team to ensure alignment around the company’s goals and to better drive and execute the company’s business turnaround.

Target’s second quarter sales increased 3.5% to $16.5 billion and the company’s profits grew 2.9% to $1.06, five cents better than analysts expected.

The company’s second quarter results were negatively affected by pre-opening expenses related to next year’s entry into Canada. Excluding those expenses, Target said its profits would have increased 4.6% to $1.12 compared to $1.07 last year. Including expenses related to Canada, Target increased its full year profit forecast to a range of $4.20 to $4.40 from an earlier guidance range of $4.10 to $4.30.

MINNEAPOLIS — Moving ahead with its previously announced turnaround strategy, Supervalu has overhauled its executive leadership team.

Minneapolis -- Supervalu announced that it is restructuring its executive leadership team to ensure alignment around the company’s goals and to better drive and execute the company’s business turnaround.

MISSISSAUGA, Ontario — The first of 39 former Zellers stores Walmart bought from Target in Canada celebrated its grand opening as a Walmart store earlier this month.

According to Walmart Canada, the 69,000 sq. ft. store located in Newmarket, Ontario, will feature easy-to-navigate aisles with directional signage, and a bright interior color palette to define the store's merchandise areas along with lower shelving to improve sightlines. The store will also conain a pharmacy.

An 8% same store sales increase is atypical for a food retailer which is why The Fresh Market’s second quarter performance is so noteworthy.

TORONTO — Supervalu has agreed to use LoyaltyOne's Precima customer-centric analytics solution, to develop a multi-dimensional customer segmentation, LoyaltyOne announced.

Precima's multi-dimensional segmentation analysis will use customer data to help Supervalue better understand its customers and classify them in a way that translates into actionable insights, the company said. Those insights drive improvements with a goal of being more responsive to customer needs.