News

CINCINNATI — Kroger on Thursday announced plans to bring together more than 4,800 associates at the Kentucky Exposition Center on April 16 to assemble an estimated 17,000 emergency food and personal care boxes for the metro community of Louisville, Ky.

Lynn Bradley, senior director, retail development, is out at Handy Hardware Wholesale, a cost-cutting move according to the Houston-based co-op.

Handy Hardware Wholesale, which filed for bankruptcy protection in January, eliminated the position of “senior director, retail development,” as part of a cost-reduction plan, according to Morrie Aaron, president of MCA Financial Group. MCA is Handy’s financial advisory firm that specializes in restructuring.

Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that net income for the quarter ended March 2 increased 14% to $373.9 million, compared with $351 million in the year-ago period. But the retailer’s guidance for the current quarter came up short.

Sales leaped 24.5% to $3.401 billion, from $2.732 billion, and same-store sales rose 2.5%.

For the fiscal year, net earnings rose 12% to $1.038 billion), from $989.5 million. Full-year revenue rose 14.9% to $10.915 billion, and same-store sales for fiscal 2012 increased 2.7%.

New York -- A Wednesday report by Reuters said that Jerry Murray, the Wal-Mart finance VP who called the chain's early February sales "a total disaster" in an email made public by Bloomberg, has left the company, effective April 5.

Wal-Mart Stores has confirmed the report, telling Reuters that it was Murray's decision to leave and that his last day at Wal-Mart was Friday.

Arlington, Va. -- A statement by The Retail Industry Leaders Association regarding President Obama’s 2014 budget proposal was issued Wednesday, saying, “While we applaud the President for recognizing the urgent need for revenue neutral corporate tax reform, his proposal falls short of the bold reforms needed.” said Bill Hughes, SVP government affairs.  

Henderson, N.C. -- Verge Connect said Wednesday it is powering Fas Mart/Shore Stop’s first smartphone application, which debuted in April across more than 200 locations primarily in Virginia, Connecticut, Maryland and Delaware.

The new application, called Fas APP, integrates with the retailer’s new secure payment card.

Fas Mart/Shore Stop, which are owned by GPM Investments, selected the Verge Connect platform to help build the company’s digital and mobile presence.

By Rafi Musher, [email protected]

By Mark Ledbetter, [email protected]

There's a season for everything, and that's no less true for retailers. Merchants have historically enjoyed a central position in the retail universe, driving everything from pricing to availability. How quickly things have changed. Today, try telling a 19-year-old that she can't get a discount on the slightly frayed jeans she found on the discount rack. She'll buy a similar pair online and Tweet about it so fast, it will make your head spin!

Washington, D.C. -- The National Retail Federation issued a statement on Tuesday in support of the International Longshoreman’s Association’s approval of a new long-term master labor contract covering port terminal operations along the East and Gulf Coast ports.

Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended March 2 edged up to $140.1 million, compared with $136.4 million in the year-ago period.

Sales increased 17.7% to $2.89 billion from $2.46 billion, and same-store sales rose 2.9%.