News

Walmart U.S. just reported its fourth consecutive quarter of positive same store sales growth. Now comes the hard part.

The current third quarter period marks the first time in three years that Walmart U.S. is up against a prior year increase in same store sales. As Walmart U.S. president and CEO Bill Simon reminded those listening to the company’s conference call last week, Walmart had a 1.3% comp increase in the third quarter of 2011 and this year he is expecting an increase in the range of 1% to 3%.

Chicken Soup for the Soul, the well-known book publisher and leader in life improvement, inspiration and wellness, will launch a national line of nutritious, quality comfort foods that will be available in supermarkets and food retailers in early 2013.

SIDNEY, Neb. — Cabela's has named Sean Baker as president of World's Foremost Bank and will be appointed CEO effective Jan. 1, 2013. Baker will replace Joseph Friebe, whose planned retirement was announced in June.

MINNEAPOLIS — Target's charitable Facebook campaign garnered more than three million votes in leas than four weeks, the company reported. Through its Give With Target campaign, the company was able to reach its goal of awarding $2.5 million in Target gift cards to schools across the country two weeks earlier than planned.

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported Wednesday a loss of $17.5 million for the second quarter, narrowed from a loss of $19.3 million in the year-ago period.

Results were boosted by a 5% sales in the quarter ended July 28 – to $210.3 million, from $200.9 million last year. Wall Street expected $203.1 million in revenue.

Same-store sales climbed 5%, which included a 7% rise in PacSun’s men’s division and a 2% rise on the women’s side.
 

Memphis -- Fred’s reported Thursday that net income for the quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.

Sales rose 4% to $470.8 million from $452.7 million, and same-store sales dipped 1%.

Profit results missed Wall Street expectations, and the discounter has lowered its full-year earnings forecast.


 

Walmart saw its low price supremacy challenged this week by a Bloomberg report indicating Target had lower prices on a basket of 150 comparable items.

PHOENIX — Sprouts Farmers Markets announced that Shon Boney, who has served as CEO since the company's founding in 2002, will assume the role of chairman of the board of Sprouts. Long-time Sprouts president Doug Sanders will become president and CEO, whereby he will continue to be responsible for all day-to-day aspects of running the business.

According to the company, Boney is taking on the chairman role in order to spend more time with his family in Sand Diego.