News

CINCINNATI — Kroger has released its fifth annual sustainability report.

 Some of the highlights noted in the report include:

• Kroger stores reduced overall energy consumption by 30% since 2000. 

• Company-wide, including all facilities, Kroger has saved more than 2.2 billion kilowatt hours.

Deerfield, Ill. -- Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.

Walgreen reported that contract negotiations with Express Scripts have failed, and it will stop participating in the St. Louis company's prescription plans starting Jan. 1. Express Scripts processes about 90 million prescriptions that will be filled at Walgreen stores in fiscal 2011, which will bring Walgreen about $5.3 billion in revenue.

NEW YORK — Borders' closings, and subsequent clearance sales, took a toll on Barnes & Noble's fourth-quarter results. B&N said that its 2.9% drop in same-store sales for the quarter were temporarily negatively impacted by the liquidation of over 200 Borders bookstores during that time. 

The trouble didn't end there for Barnes & Noble, which reported a fourth-quarter consolidated net loss of $59 million, or $1.04 per share. The company's total store sales were $943 million.

PLEASANTON, Calif. — Safeway celebrated National Picnic Day on Monday by breaking the Guinness World Record for longest picnic table and debuting its new private-label brand.

The record-setting picnic, held at the Marina Green in San Francisco, featured Safeway's Open Nature, a newly launched line of all-natural foods that includes meat and poultry, bread, yogurt, ice cream and salad dressing products, that were prepared by Food Network chef Tyler Florence. Safeway also succeeded at building a table exceeding 305 ft.

NEW YORK — Private-label sales across all three major retail channels reached new highs in 2010, according the Private Label Manufacturers Association.

Minneapolis -- Best Buy Co. said Tuesday that it will buy back $5 billion of its common stock and raise its quarterly dividend by 7%.

The retailer said that the buyback replaces a $5.5 billion repurchase program that had about $800 million left as of May 28. The announcement came just ahead of its shareholders meeting in Richfield, Minn.

NEW YORK  — Samsung Electronics America has launched a first-of-its kind LCD refrigerator complete with apps for keeping track of recipes, schedules and more. 

The Samsung refrigerator includes the following apps:

• Recipes from Epicurious

• Organizational tools from Google Calendar

•  Notepad

• Entertainment from Pandora

• Photos from Picasa Web Albums

By Eric White, [email protected]