News

BOSTON — The future North American grocery business of Kraft Foods will deliver steady and profitable top-line growth, consistent bottom-line growth and a superior dividend payout, according to the business' future executive team.

Cincinnati -- The Kroger Co. reported a better-than-expected second quarter profit of $279.1 million, down from $280.8 million a year ago. The supermarket company raised its forecast for the full year, buoyed by its strong loyalty program and its ability to keep costs in line.

Revenue, including fuel, rose 3.9% to $21.73 billion.

NEW YORK — Popular women's magazine Cosmopolitan is leveraging its brand in the retail space by launching its first-ever fashion collection at JCPenney.  The collection includes lingerie, sleepwear, footwear and handbags, available now exclusively in more than 600 JCPenney stores nationwide, as well as on JCP.com.

MALLE, Belgium — Belgium-based cleaning brand Ecover, said it has created the world's argest green cleaning product company with the acquisition of San Francisco-based Method.

The acquisition will expand Ecover's distribution network across Europe, the United States, Asia and Australia. Collectively delivering sales of $200 million and employing around 300 staff, Ecover and Method will continue as separate brands with a shared ambition to bring as many new consumers as possible into the green cleaning and personal care market, the company said.

Walmart U.S. president and CEO Bill Simon was feeling pretty good earlier this week as he reeled off accomplishments and emerging opportunities during a presentation at a Goldman Sachs retail conference.

Simon appeared at the same conference two years earlier when Walmart was in a very different place in terms of its financial performance and its share price. His presentation this year was markedly different given all that has occurred under his leadership.

HOFFMAN ESTATES, Ill. — The trend of doing away with layaway fees continues, this time with Kmart announcing that it has removed its layaway service fee both in stores and online through Nov. 17.

The retailer follows suit with Toys"R"Us, which said it would drop the $5 upfront service fee and eliminate the minimum purchase requirement for all orders created in stores through Oct. 31 and Walmart, which, while not cutting back its layaway fee, has rolled it back to $5 from $15.

Bed Bath & Beyond is offering a trio of Granite Gold branded products as part of an exclusive new Home Care Collection.

The product offering includes Granite Gold’s daily cleaner, a countertop polish and a specialty cleaner and that retails for $23.99.

"Harsh and abrasive ordinary cleaners have damaging effects on natural stone-surfaces," said Lenny Sciarrino, president and CEO of Granite Gold. "Our Home Care Collection provides Bed Bath & Beyond customers the essential tools to easily and safely clean, shine and protect their surfaces."

SAN FRANCISCO — Levi Strauss & Co has named longtime apparel executive Seth Ellison president of the global Dockers brand effective Sept. 10.