News

By a nearly 3-to-1 margin, retailers say that internal theft is more extensive than external theft at their establishments, according to a new survey conducted by PointofSale.com. 

“It’s interesting to me that about half the respondents view their POS system as a means of theft prevention,” said Craig Aberle, publisher of PointofSale.com, who designed the survey. “Yet, theft continues to be a rampant problem among retailers.”

Retailers should brace for strong back-to-school sales according to a National Retail Federation survey that shows a surge in K-through-12 and college spending.

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.
 

ABILENE, Kan. — Alco this week began offering products for sale on its website. The company has launched an e-commerce site that will offer more than 10,000 items. Features of the site include "24/7" online shopping in a secure, searchable web environment, plus delivery to home or place of business.

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."

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.

Visa and MasterCard announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but a growing number of voices are saying not so fast.

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.”