News

By Mitchell Harper, [email protected]

PLEASANTON, Calif. — Safeway is bringing Coinstar's self-service coin-counting kiosks to its U.S. and Canada stores, the supermarket retailer announced Thursday.

Safeway said it agreed to install 1,400 Coinstar kiosks by the end of 2011, with installations slated to begin this month in Safeway stores and its banners, including Vons, Dominick's, Randalls, Tom Thumb, Genuardi's, Pavilions, Carrs and Pak N' Save.

Target ended its last fiscal year with sales of $67.4 billion and earnings per share of $4, but if company chairman, president and CEO Gregg Steinhafel has his way, within six or seven years earnings per share will double to $8 and sales will top $100 billion.

Houston -- Men's Wearhouse reported Wednesday that its net income more than doubled in the first quarter, rising to $27.2 million from $13.6 million in the year-ago period. The company cited its expansion into the corporate uniform market for its improved performance.

Results topped both Wall Street and internal company forecasts.

Revenue rose nearly 23% to $580 million from $473 million. The retailer sold nearly $60 million in corporate apparel and other uniforms, up from $3.7 million in the same period a year ago.

Express is launching a store design concept created by the hot Japanese design firm Wonderwall. The new format, debuting at King of Prussia Mall, King of Prussia, Pa., has a modern, sophisticated look and combines elements of refined chic with more unconventional materials. It also introduces social media into Express’ store environment. The same concept is sets to launch at Kenwood Towne Center in Cincinnati.

A Wild West atmosphere remains evident in the world of e-commerce as brands, once reluctant to sell directly to customers online for fear of alienating retailers, are now experimenting with novel ideas that just a few years ago would have been unthinkable.

For example, Ad Age this week chronicles an example involving Procter & Gamble selling products direct to consumers on its Facebook fan pages for several leading brands such as Tide, Gillette, Olay, Gain, CoverGirl, Luvs and Febreze.

New York City -- J. Crew Group reported Thursday that it lost $29.9 million in the fiscal third quarter, compared to a profit of $44.7 million in the year-ago period.

The apparel retailer said the loss was due to markdowns to clear out excess inventory and charges related to being acquired.

J. Crew went private in March in a $3 billion deal with two private-equity firms.

Revenue dropped 3% to $281.2 million. Same-store sales fell 3%.
 

ST. PETERSBURG, Fla. — HSN announced that Jennifer Lopez will launch her new fragrance Love & Light exclusively on HSN on July 2.

HSN said it is also offering fans the chance to win a private meet-and-greet with Lopez at the HSN set on July 2. The comany is accepting entries via its Facebook page and HSN.com through June 14.

The prize package will also include:

• Airfare for a winner and guest

• Two nights at the historic Vinoy Renaissance Resort and Golf Club in St. Petersburg, FL