Supply Chain & Merchandising

Hingham, Mass. — Talbots Inc. posted a bigger-than-expected second-quarter loss on Wednesday, largely due to increased markdowns. The retailer also said that chief creative officer Michael Smaldone has departed the company, effective immediately.

Talbots reported a net loss of $37.3 million for the period ended July 30, compared with a profit of $941,000 a year earlier. Revenue fell 10% to $271.1 million from $300.7 million. Same-stores sales fell 10.4%.

Beaumont, Texas -- Conn's said Wednesday it lost $3.4 million in the second quarter, compared to net income of $1.6 million the year before. The company said that the loss was due to one-time charges, which included $3.7 million for closing three stores and $11.1 million for repaying a loan earlier than expected. Without those items, the company would have earned $5.5 million.

Revenue fell 13% to $184.4 million on declining sales of TVs and computers.

Miami -- Ryder System announced that it and Staples have agreed to add 10 heavy-duty compressed natural gas (CNG) tractors to Ryder’s dedicated fleet servicing Staples. The tractors -- the first of their kind used in Staples’ third party dedicated operations -- will replace ten diesel tractors currently used by Ryder for Staples, and have been made available through Ryder’s natural gas vehicle project agreement with the San Bernardino Associated Governments in Southern California.

New York City -- In the wake of the power outages caused by Hurricane Irene and other powerful summer storms, Price Chopper is reviewing its back–up plan and considering buying bigger generators, according to The Business Review.

To read the article, go to bizjournals.com/albany/morning_call/2011/09/more-bigger-generators-may-be-in.html
 

Toronto -- Blockbuster Canada Co. is winding down operations. Grant Thornton Ltd., the receiver in charge of selling the chain, announced that it is seeking a court order to shut down the company’s remaining 253 stores.

The accounting firm was appointed receiver for the video chain in May.  In June, it shuttered about 150 underperforming Blockbuster outlets, and began the hunt for a buyer for the remaining outlets. But Grant Thornton said it has been unable to find a suitable buyer.
 

SALISBURY, N.C. — Bottom Dollar Food invited customers to contribute to its Hurricane Irene disaster relief campaign.

The campaign, which ended Tuesday, supported efforts of the American Red Cross to raise funds that would serve those impacted areas by the hurricane. Bottom Dollar Food accepted register donations at stores in Virginia and Washington, D.C., and surrounding areas, as well as stores in the greater Philadelphia region. Bottom Dollar Food donated $4,000 to the American Red Cross.

So far so good. The third quarter at Target is off to a solid start as Target reported a 4.1% same-store sales increase that was squarely in the middle of the company’s guidance range, which called for an increase in the low to mid single digits.

Memphis -- The Kroger Co. said Friday that its Kroger Delta Division, based in Memphis, has acquired eight Memphis-area Schnucks grocery stores that the company will convert and re-open under the Kroger banner over the next few weeks.

Currently, Kroger operates 37 stores in the Memphis metropolitan area, and the acquisition ups the area store count to 43, with two of the acquired Schnucks locations replacing two smaller existing Kroger locations.