News

SALISBURY, N.C. — Food Lion continues to implement its new strategy of offering greater value on store brands and being competitive on national brands, while providing a convenient shopping experience. The company announced that it has launched the strategy in 268 stores in Virginia, West Virginia and North Carolina. These markets are the first stores in 2012 to unveil the new strategy, the company said.

NEW YORK — The Consumer Confidence Index from the Conference Board fall slightly in March to 70.2 from 71.6 in February. 

"Consumer Confidence pulled back slightly in March, after rising sharply in February,” said Lynn Franco, director of The Conference Board Consumer Research Center. “The moderate decline was due solely to a less favorable short-term outlook, while consumers’ assessment of current conditions, on the other hand, continued to improve.”

Hampstead, Md. -- JoS A. Bank Clothiers Inc. said Wednesday that its fiscal fourth-quarter profit rose 8% amid improved sales. But the chain cautioned that softer-than-expected customer traffic and milder winter weather is pressuring its first-quarter performance.

Jos. A. Bank reported net income of $44.1 million for the period ended Jan. 28, up from $40.9 million a year earlier.

Revenue increased 9% to $346.3 million, from $318.3 million.

The United States isn’t the only country where workers’ rights are called into question by pro labor groups. North of the border, Target, which is expanding there for the first time, is facing criticism for its "anti-worker" policies from unions in both the United States and Canada. 

Target has its low price promise, 5% REDcard Rewards and this week, just in time for Easter, its circular is filled with 50% off deals on toys from Star Wars, Mega Bloks, Disney and Fisher-Price toys. And if those offers aren’t incentive enough to generate a visit to the local Target the company also featured eight free gift card offers ranging in denominations from $5 for any two Procter & Gamble brand products to $35 for a $179 B70 Platinum Edition Keurig brand coffee maker.

Opening day for Major League Baseball is April 5, and Target was on its promotional game this past weekend featuring assortments of MLB licensed products in its weekly ad.

Matthews, N.C. -- Family Dollar Stores Inc.'s second-quarter earnings rose 10.7% as increased customer traffic fueled higher sales. Its results topped analysts’ expectations.

The discounter said its net profit rose to $136.4 million for its fiscal second quarter ended Feb. 25, 2012, from $123.2 million a year earlier.

MATTHEWS, N.C. — Rising gas prices and a cautious consumer environment continues to benefit the dollar store, with Family Dollar being the latest example. The company reported that net income for the second quarter of fiscal 2012, ended Feb. 25, increased 10.7% to $136.4 million compared with net income of $123.2 million for the second quarter of fiscal 2011. Net income per diluted share for the quarter increased 17.3% to $1.15 compared with 98 cents for the second quarter of fiscal 2011.