Business Analytics

EDEN PRAIRIE, Minn. — Supervalu reduced it full-year profit forecast Wednesday morning, even though the company reported better-than-expected second-quarter sales and profits as a result of strategies president and CEO Craig Herkert said are yielding results.

Let’s say you are a major global retailer, perhaps the largest in the world, and interested in expanding into markets beyond the 28 where you currently have a presence. Is the better strategy to publicly identify new markets of interest and a timetable for entry, thereby elevating asset prices, or to shun deal-making to pursue ample organic growth opportunities in existing markets all the while reserving the right to strike opportunistically when market conditions are most favorable?

New York City -- Target Corp. secured a new $2.25 billion unsecured credit facility, the retailer disclosed Friday in a filing with the Securities and Exchange Commission.

Target could borrow up to as much as $500 million under the credit agreement. The agreement with Bank of American and Citibank will expire in October of 2016 unless it is extended.

The current facility replaces a prior $2 billion credit agreement.
 

Commerce, Calif. -- 99 Cents Only Stores reported Friday that same-store sales for the second quarter rose 6.7%. The news comes just days after the discounter agreed to a $1.6 billion buyout by private equity firm Ares Management LLC and the Canada Pension Plan Investment Board.

Total revenue for the quarter ended Oct. 1 rose 8.8% to $363 million.
 

PLEASANTON, Calif. — Safeway reported net income of $130.2 million (38 cents per diluted share) for the third quarter of 2011 compared with $122.8 million (33 cents per diluted share) for the third quarter of 2010.

Total sales were $10.1 billion in the third quarter of 2011 compared with $9.4 billion in the third quarter of 2010, due primarily to higher fuel sales, a 1.5% increase in identical-store sales (excluding fuel) and a higher Canadian exchange rate.

Armonk, N.Y. -- Jewelry will be one of the brightest categories for U.S. retailers this holiday season, according to a new analytics-based forecast by IBM. Jewelry sales are set to hit $2.6 billion In November, up 7.7% over the year-ago period, IBM reported, and $5.4 billion in December, up 4% over last year.

SUNBURY, Pa. — Weis Markets reported its third quarter sales increased 6% to $678.6 million and that its comparable-store sales increased 6.5% during the thirteen-week period ending Sept. 24 compared with the same period a year ago.

During the period, the company's net income increased 4.1% to $17 million compared with the same period a year ago.  The company's third quarter earnings per share increased to 63 cents compared with 61 cents per share in 2010.

DALLAS — Continued softness in the home and housewares category is evident at Tuesday Morning, which said it expects the loss per share for the first quarter to be in the range of 12 cents to 13 cents.

Tuesday Morning reported that sales for its first quarter ended Sept. 30 were down 1.2% to $170.7 million from $172.8 million last year. The company said comparable-stores were down 4.1% comprised of a 5.2% decrease in traffic offset by a 1.1% increase in average ticket. 

Chelmsford, Mass. -- A report released Tuesday by Kronos said that the retail hiring levels have reached the highest mark in nearly three years. The Kronos Retail Labor Index, which characterizes the current state of the demand and supply sides of the labor market within the U.S. retail sector, rose to 3.9% in September, reflecting a strong gain in hires and a modest decline in applications, all on a seasonally adjusted basis. (A level of 3.0% means that for every 100 applications received, three hires occurred).

New York City -- The Conference Board Employment Trends Index, released Tuesday, showed a decrease in September to 100.95, down from the revised figure of 101.37 in August. The September figure is up 4.4% from the same month a year ago.