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Supply Chain & Merchandising

  • Amazon posts record-setting 51% increase in Q2 sales, profits drop

    Seattle -- Amazon reported Tuesday that sales for the quarter ended June 30 soared 51% to $9.9 billion.

    Profits dipped 8% to $191 million from $207 million on surging operating costs, but still beat Wall Street expectations.

  • Books-A-Million to replace booksellers at many Cafaro malls

    Youngstown, Ohio -- Shopping center owner Cafaro Co. said Wednesday that Books-A-Million will fill vacant and soon-to-be vacant spaces in a lineup of its malls around the country.

    Beginning in August, new Books-A-Million stores will open at Spotsylvania Towne Centre, Fredericksburg, Va.; Millcreek Mall, Erie, Pa.; and Meadowbrook Mall, Bridgeport, W.V.

  • Food desert fiasco

    The existence of hunger in America and the concept of food deserts are hard for most Americans to grasp. Simple observations suggests that the majority of us are not missing many meals and grocery stores are so prevalent that profitably operating a food store is a perpetual challenge because of intense competition and the resulting pricing pressure.

  • Jones Group Q2 net income falls on acquisition expense, beats Street

    New York City -- The Jones Group reported Wednesday that second-quarter earnings dropped almost 80% to $5.2 million, compared with $25.7 million in the year-ago period. The retailer and manufacturer, whose brands include Nine West and Anne Klein, cited expenses related to the acquisition of U.K. luxury footwear retailer Kurt Geiger for the poor earnings performance but results still exceeded Wall Street estimates.

    Revenue for the quarter increased 3% to $887.4 million, just edging analysts’ expected $887.2 million.

  • Hobby Lobby to open three California stores in former Mervyn’s sites

    Oak Brook, Ill. -- Inland Western Retail Real Estate Trust Inc. said Wednesday that Inland Western MDS Portfolio LLC, one of its wholly owned subsidiaries, has signed three leases with Hobby Lobby to occupy 227,450 sq. ft. of former Mervyn’s locations in California.

    The three new stores, firsts to their respective markets, include a 76,211-sq.-ft. location in Temecula, a 76,248-sq.-ft. location in Roseville and a 74,991-sq.-ft. location in Rancho Cucamonga.

    The stores are projected to open this fall.

  • Wal-Mart names Asia financial chief

    Bentonville, Ark. -- A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover.

    Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1.

    Since May, Wal-Mart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.
     

  • Robert B. Aikens acquires Pine Ridge Square

    Gaylord, Mich. -- Birmingham, Mich.-based commercial real estate development firm Robert B. Aikens & Associates LLC announced Wednesday that it has acquired the Pine Ridge Square center, located in Gaylord, Mich.

    At 189,000 sq. ft., Pine Ridge Square is home to Big Lots, Dunham’s, Bath & Body Works, GNC and Payless Shoe Source. The center currently has 30,000 sq. ft. available for lease.
     

  • Delhaize completes Delta Maxi acquisition

    Brussels, Belgium -- Belgian supermarket retailer Delhaize Group said Wednesday that it has completed the previously announced acquisition of Serbian retailer Delta Maxi.

    Combined with its existing operations in Greece and Romania, Delhaize is now, with this transaction, considered a leading retail force in Southeastern Europe.

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