News

New York City -- Chain Store Age will present a Webinar on Tuesday, April 26, at 2 p.m. EST (11 a.m. Pacific) that will include results of its exclusive survey on how retailers are using business intelligence tools.

Fort Worth, Texas -- RadioShack Corp.'s first-quarter earnings fell 30% amid higher costs and lower margins. The company also lowered the high end of its full-year earnings estimate.

RadioShack reported net income of $35.1 million, down from $50.1 million a year earlier.

Revenue for the three months ended March 31 rose 2% to $1.06 billion, boosted by 11%  growth in mobile devices.

Elmsford, N.Y. -- Party City Holdings, parent company of Amscan Holdings, has filed an initial public offering of $350 million of common stock as it raises funds to pay down debt.

It intends to list under the symbol PRTY. Current stockholders are also likely to sell shares alongside Party City in the IPO.

Indianapolis -- Indiana Attorney General Greg Zoeller says the state will get $858,000 from CVS Pharmacy to settle allegations that the company overcharged Medicaid programs, the Associated Press reported.

The amount represents Indiana's share of a $17.5 million settlement reached last week with 10 states and the federal government.

With Mother’s Day right around the corner, General Growth Properties teamed up with Broyhill to give shoppers an opportunity to enter a contest to win mom an entire Broyhill living set, valued at more than $4,000. To enter, customers can simply visit a participating mall’s Facebook page and in 150 words or less, tell why “mom” is the best! The grand prize is a seven-piece furniture set, featuring pieces from the Perspectives collection, including a sofa, two chairs, square coffee table and more.

NAPERVILLE, Ill.  -- Former Walmart merchandising and store operations executive Michael Lewis was named EVP and president of retail at OfficeMax. Lewis will report to OfficeMax president and CEO Ravi Saligram and have responsibility for all aspects of the company’s retail business including merchandising, store operations and real estate.

EL SEGUNDO, Calif. — Just in time for Earth Day, Fresh & Easy has introduced its private-label household cleaning and paper products.

The retailer's Green Things line, which now is available in stores, features household cleaners that are made with plant-based formulas, are biodegradable and pH-neutral and also are made without such chemicals as 1,4-dioxane, phosphates, dyes or perfumes.

SUNBURY, Pa. -- Weis Markets reported that for its first quarter ended March 26, net income increased 7% to $18.6 million compared with $17.4 million for the same period in 2010.  Basic and diluted earnings per share increased 6.2% to 69 cents per share.

Weis attributed its higher earnings to an increase in store level operating income due to the increasingly efficient operation of its stores and disciplined marketing and advertising along with targeted promotional activity in key markets.

HOFFMAN ESTATES, Ill.  -- Kmart is taking advantage of the warmer weather starting to creep in across the country to promote its line of outdoor furniture and decor.

In a press release, the company reminded consumers of its selection, including the outdoor La-Z-Boy set featuring an indoor/outdoor recliner, and the Jaclyn Smith and Country Living collections, which feature such classic styles as retro red steel clam chairs, table and rocker.

David Krause has been appointed SVP of category management at the Brookshire Grocery Co., based in Tyler, Texas. Krause spent the past 11 years as a principal consultant and senior manager at Capgemini where he worked with U.S. grocers to evaluate, refine and standardize processes in fresh foods, category management and supply chain.