News

Publix profits, sales rise in Q4
Lakeland, Fla. -- Publix Super Markets turned in another great quarter, a 7.4% increase in profits and a 6.9% increase in sales in the fourth quarter.

The reported a profit of $453.3 million in the fourth quarter, compared to $422 million in the year ago period. Net sales totaled $7.9 billion; same store sales increased 6.4%.
Ace Hardware paints 31 days of color
Ace Hardware is taking an omnichannel approach to paint promotions with a new “31 Days of Color” campaign.

The Oak Brook, Ill.-based co-op has launched a customization-focused paint experience that allows customers on acehardware.com, on social media and in-store to be inspired with new paint colors and renovate.

The Finish Line’s Running Specialty Group acquires four-store, NYC-based JackRabbit Sports

Denver -- The Running Specialty Group (RSG), a division of The Finish Line, has expanded its presence in the New York City area with the addition of JackRabbit Sports, consisting of four locations. Additionally, JackRabbit owner and founder, Lee Silverman, will join RSG’s leadership team in Denver as senior VP of brand strategy.
Publix posts 7.4% increase in profits

Publix continues to be a blockbuster in its industry, as the grocery chain posted a 7.4% increase in profits in the fourth quarter.

The Florida-based retailer reported a profit of $453.3 million in the fourth quarter, compared to $422 million in 2013. Earnings per share for the fourth quarter increased to $0.58 for 2014, up from $0.54 per share in 2013. Publix reported net sales of $7.9 billion; same store sales increased 6.4%.
Ikea gets smart with furniture

Conshohocken, Pa. – It may not be quite as cool as a shoe phone or a “Cone of Silence,” but Ikea is getting smart with furniture. Specifically, the retailer is releasing a line of “Smart Home” bedroom tables and lamps that will include built-in wireless charging spots for mobile devices.
Study: Retail lags behind other industries on Internet of Things security

Portland, Ore. -- Only 18% of retail IT security professionals expressed concerned that point of sale devices were being targeted by cyber criminals, and only 20% were “confident” that point of sale devices were securely configured, according to a study by Tripwire examining the impact of emerging enterprise security threats connected with the Internet of Things (IoT) in the retail industry.
'60 Minutes' expose sends Lumber Liquidators shares tumbling

New York -- The "60 Minutes" episode alluded to in last week's Lumber Liquidators earnings conference call was apparently more damning than some analysts expected.

As a result, the company's shares tumbled Monday morning, with pending news prompting a pause in trading that resumed again after the stock price fell more than 24%.
Family Dollar CEO to cut company stake again

Matthews, N.C. – Howard Levine, CEO of Family Dollar Stores Inc., intends to reduce his holdings of company stock for the second time in a month. In an SEC filing, Levine said he will sell up to two million shares of Family Dollar stock in an effort to diversify his portfolio.

In February 2015, Levine sold about 1.77 million shares of Family Dollar stock for $134.5 million. Family Dollar is in the process of being acquired by Dollar Tree Inc.
Apple, say hello to 'Samsung Pay'

Samsung Electronics Co. has thrown another hat into the mobile payment ring with its recent smartphone launch.

The company has unveiled two new flagship Galaxy smartphones and a mobile payments system in partnership with MasterCard. The new Samsung Pay will enable MasterCard cardholders to use their new Samsung Galaxy S6 phones for everyday in-store purchases. (Both phones will ship with the technology built-in.)
Barnes & Noble to keep Nook after all

Barnes & Noble has changed its mind about which business to spin off. But in the end, the bookseller will still have to compete with Amazon.

Barnes & Noble now says it is looking to raise as much as $775 million by spinning off its college bookstore business, traditionally the strongest performing division for Barnes & Noble. Last May the company said it would be spinning off its Nook division after disappointing sales.