Supply Chain & Merchandising

Moorestown, N.J. -- North Plainfield, N.J.-based Levin Management Corp. said it has been appointed property manager and exclusive leasing agent for Moorestown Shopping Center, a 48,920-sq.-ft. retail venue in Moorestown, N.J.

The center is tenanted by health club Retro Fitness, along with Dunkin’ Donuts, Family Dollar and a number of local businesses, including a dry cleaner, a martial arts studio and a tanning and beauty salon.

PLEASANTON, Calif. — After stepping into the role on an interim basis, Safeway has named Brian Baer president of its Dominick's Finer Foods banner.

Baer, who has served as acting president of Dominick's since July 2011 after the exit of Don Keprta, has been part of Dominick's parent Safeway since 2001. Prior to his role as president, Baer served as Dominick's CFO and VP finance.

By Ken Burkeen, [email protected]

Mooresville, N.C. -- Lowe’s Cos. reported Monday that profit for the quarter ended Feb. 3 rose 13% to $322 million, compared with $285 million a year earlier. Results topped Wall Street expectations and demonstrated an upward consumer swing in home-improvement projects.

Quarterly sales increased 11% to $11.6 billion from $10.5 billion, beating analysts’ expectations of $11.35 billion in revenue. Same-store sales rose 3.4%.

New York City -- Royal Ahold NV has agreed to acquire bol.com, the Netherlands’ largest online retailer, for about $470 million in cash.

MOORESVILLE, N.C. — Lowe's rebranding efforts and focus on delivering a better customer experience seem to be paying off as the company ended the year with strong fourth-quarter sales and earnings.

The company reported net earnings of $322 million for the fourth quarter, a 13% increase over the same period a year ago. Diluted earnings per share increased 23.8% to 26 cents from 21 cents in the fourth quarter of 2010. 

Dallas -- Blockbuster parent Dish Network confirmed Thursday that it will close 500 underperforming Blockbuster video stores in the first quarter, which equates to about a third of its stores.

The company, which acquired Blockbuster in 2011, said it plans to expand Dish Services offerings in the remaining Blockbuster stores. It currently offers the services in 150 stores.

SAN FRANCISCO — Gap Inc.'s fourth-quarter net income plummeted 40% on higher costs and aggressive discounting during the holiday selling season.

The company reported that net income for the quarter ended Jan. 28 was $218 million, compared with $365 million a year earlier. Sales dipped to $4.28 billion in the quarter, from $4.36 billion, matching Wall Street estimates.