News

ORRVILLE, Ohio — J. M. Smucker has completed its acquisition of Enray Inc., a leading manufacturer and marketer of premium organic, gluten-free ancient grain products, including sprouted and non-sprouted grains, pasta, and cookies, which are primarily sold under its flagship brand, truRoots.

Enray generated net sales of more than $45 million throughout its latest 12-month period. The transaction includes a leased manufacturing facility in Livermore, Calif., where Enray is headquartered. Details of the transaction were not disclosed.

New York -- The Deloitte Consumer Spending Index remained flat in July as improvements in real housing prices and labor markets offset weakness in other areas. The Index, which tracks consumer cash flow as an indicator of future consumer spending, remained at 4.4 this month.  

PHOENIX — PetSmart’s total sales for the quarter ended Aug. were $1.7 billion, up 5.3% from $1.6 billion for the prior-year period, showing that people are still spending money on their pets despite lingering economic challenges and cautious shopping behavior trends evident in other sectors. 

Comparable-store sales, or sales in stores open at least a year, grew 3.4%, benefitting from comparable transactions growth of 1%. Services sales, which are included in total sales, grew 7.3% to $205 million.

Target produced solid profits on tepid second quarter sales growth but joined the growing list of retailers to express reservations about the health of the consumer during the back half of the year.

Target said its U.S. stores produced a 1.2% same store sales increase during the second quarter ended August 3, and total sales increased 2.4% to $16.8 billion from $16.5 billion during second quarter last year. Operating profits grew at a meager 0.4% rate to $1.33 billion from $1.32 billion.

Epicor Software Corporation, a business software developer, has entered into a partnership with CyberM Information Technology Limited to resell Epicor retail technology solutions and provide in-country implementation and support services within the Asia Pacific region. 

Under the terms of the agreement, CyberM will provide sales, services and support to assist local retailers and meet the globalization requirements of multinational retailers looking to expand into APAC.

Barnes & Noble’s founder, chairman and largest shareholder, Leonard Riggio, is calling off his offer to buy the company’s retail business, following a worse-than-expected net loss of $87 million for the first quarter, compared to a loss of $39.8 million in the year-ago period. 

Worse than expected second quarter sales results at Dick’s Sporting Goods sparked new consumer spending concerns and prompted the company to lower its full year profit forecast.

Dicks said sales for the quarter ended August 3, increased 6.6% to $1.5 billion, however same store sales fell 0.4%, versus a planned 2% to 3% increase, when adjusted for a 53rd week in 2012. Profits for the period totaled $84.2 million, or 67 cents a share, compared to $53.7 million, or 43 cents a share.

With the addition of an Android app, mobile workforce leader Gigwalk expects its on-demand workforce to soon exceed 600,000.

The two-year-old San Francisco-based technology company already has 325,000 workers, known as Gigwalkers, using its app on iPhones to perform a variety of mobile research and store audit functions. The addition of an app for Android phones is expected to more than double the number of Gigwalkers because Android phones are more prevalent in the market.