News

CITY OF INDUSTRY, Calif. — Teen retailer Hot Topic has named Kate Horton as VP, general merchandise manager for itsTorrid division, which retails fashion apparel, lingerie and accessories for young women who wear sizes 12 and up.

Reporting to Hot Topic Inc. chairman and CEO Lisa Harper, Horton will drive the merchandising strategy for Torrid, leading a team of merchants to develop an assortment of fashion apparel that is reflective of the brand’s position, is enticing to consumers, and drives sales and profit margins.

Williamsville, N.Y. -- Tops Friendly Markets announced that the company has entered into an agreement with GU Markets LLC, an affiliate of C&S Wholesale Grocers, Inc., to acquire 21 supermarkets located in upstate New York and Vermont.

This acquisition will bring the number of Tops stores to 153 and will expand Tops' footprint further into areas of northern and eastern New York State and neighboring northern Vermont. The planned acquisition of the 21 stores follows up on the 2010 acquisition of the Penn Traffic stores.

JACKSONVILLE, Fla. — Winn-Dixie on Wednesday launched a prescription-savings card that offers deep discounts on more than 400 generic medications and varied discounts on name-brand and other generic medications, the grocer announced.

“Not everyone has insurance or health benefits that adequately cover prescriptions,” stated John Fegan, VP pharmacy for Winn-Dixie. “This program makes it easier for our customers to get the prescriptions they need at a great deal so they can focus on their health ... not on how much it costs.”

Pleasanton, Calif. -- Safeway Inc. reported Thursday that profit for the second quarter dropped to $121.7 million from $146 million in the same period last year.

Sales inched up 1.9% to $10.4 billion, and same-store sales rose 0.8%.

For the year, Safeway said it expects to invest $900 million in capital expenditures to open approximately 10 new Lifestyle stores, complete 10 Lifestyle remodels, refurbish in-store pharmacies and develop properties through its Property Development Centers subsidiary.
 

MISSISSAUGA, Ontario — Walmart Canada has invited more than 550 kids and 350 parents to participate in the first-ever Great Big Toy Testing Event. Taking place on July 21, the event gives kids and parents the opportunity to interact with more than 100 toys and will help the retailer determine the top toy list for the 2012 holiday season.

The July 13 settlement of a lawsuit over allegedly fixed credit card interchange fees is a credit positive for the two largest industry players Visa and Mastercard, but will have a smaller impact on merchant acquirers, retailers and banks, said  Moody’s Investors Service in a new special comment "Credit Card Interchange Fee Settlement is Credit Positive For Visa, MasterCard."

SAN JOSE, Calif. — Revenue at eBay soared 23% to $3.4 billion during the company's second quarter, thanks to strong performances in its Marketplaces and PayPal businesses.

Williamsville, N.Y. -- Tops Friendly Markets has entered an agreement with C&S Wholesale Grocers affiliate GU Markets to acquire 21 supermarkets located in upstate New York and Vermont.

Tops said the acquisition will bring its number of operating stores to 153 and will expand Tops' footprint further into areas of northern and eastern New York State and neighboring northern Vermont. For the time being, 20 of the stores will continue to operate under the Grand Union banner, while the other store will continue to operate under the Bryant's banner.