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  • Delhaize Group elects new members to board

    BRUSSELS — The Belgium-based parent company of Delhaize America, which operates such banners as Food Lion and Harveys in the United States, has elected new members to its board of directors.

  • Walmart, Home Depot each pledge $1 million for Joplin tornado relief

    New York — Walmart and The Home Depot have each pledged $1 million to help rebuilding efforts in tornado-ravaged Joplin, Mo.

    Each of the retailers had a store in Joplin that was leveled in the storm. Both stores had fatalities inside them.

    In a statement, Walmart said it has accounted for all of its associates working at the store at that time, but still is reaching out to all of its employees in the area. It also is working to direct truckloads of water, food and other basic items to Joplin.

  • Brown Shoe Q1 profit falls on higher costs

    St. Louis — Brown Shoe Company Inc., which operates Famous Footwear stores, said Wednesday that its first-quarter earnings tumbled, despite rising revenue caused by higher costs.

    The company earned $3.7 million, compared with year-ago earnings of $10 million. Excluding special charges for restructuring and other items, the company earned $7 million.

    Revenue rose to $624.6 million from $597.7 million a year earlier. Revenue declined at the company's Famous Footwear and specialty retail operations, but wholesale revenue jumped 27%.

  • Select Kroger stores selling Bombay Furniture-branded home decor

    New York -- Bombay Company said Kroger Co. has introduced select Bombay furniture, accessories and gifts at 180 of its stores, Furniture Today reported. 

    The merchandise mix includes “mirrors, vases and novelty accents, as well as furniture pieces such as chairs, upholstered pieces, accent tables and iconic Bombay coffee tables," Bombay said in a release. 

  • Foot Locker Q1 profit soars 76%

    New York City -- Foot Locker said on Thursday that its first-quarter profit jumped 76% as sales rose sharply. The retailer, which has benefited from efforts to cut costs and close dozens of poorly performing locations, said it earned $94 million for the quarter that ended April 30.

    Sales increased 13% to $1.45 billion, from $1.28 billion a year earlier. Same-store sales rose 12.8%. The results easily beat the average estimates of analysts.

  • Zumiez swings to profit, to open 44 stores

    Everett, Wash. -- Zumiez reported Thursday net income of $1.9 million in the first quarter, compared with a loss of $1.9 million in the year-ago period. The retailer said it plans to open 44 new stores in fiscal 2011, including its first stores in Canada.

    The results for the first quarter of fiscal 2010 include costs of approximately $1.2 million associated with the relocation of the company's distribution center from Everett, Wash., to Corona, Calif.

  • Target to invest more than planned to enter Canada

    New York City -- Target Corp. plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.

    The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

    “We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

  • Abercrombie & Fitch surprises with big swing to profit in Q1

    New Albany, Ohio -- Abercrombie & Fitch Co. said Wednesday that overseas strength pushed its net income to $25.1 million for the first quarter, compared with a loss of $11.8 million a year earlier.

    As previously reported, revenue rose 22% to $837 million, helped by a 64% surge in international revenue.

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