News

SAN BERNARDINO, Calif.  -- Stater Bros. reported that supermarket sales declined 2.31% in the first quarter of fiscal 2011 compared with the same period of the prior year.  Like-store sales decreased 2.31% or $21.3 million for the thirteen weeks ended Dec. 26, 2010 compared with the thirteen weeks ended Dec. 27, 2009.  Consolidated sales in the first quarter of fiscal 2011 were $899 million compared with $923.9 million in the first quarter of fiscal 2010, an overall decline of $24.8 million.

NEW YORK-- Barneys New York has launched a new editorial site called "The Window," which will reside on Barneys.com. According to the company, The Window will give viewers "a unique and expertly cultivated view into the worlds of luxury, culture, beauty and the people behind the most celebrated design houses, through interactive features and exclusive content."

YONKERS, N.Y. -- Consumer Reports announced that its Trouble Tracker Index has climbed for the third straight month to 58.7. The index, which tracks the depth and breadth of financial difficulties among households, has climbed up from 54.2 last month and from 53.4 one year ago.

NEW YORK -- Macy’s announced that it has donated $16.25 million to various charitable organizations as a result of its 2010 Thanks For Sharing and Believe holiday campaigns. 

Atlanta -- A report released Wednesday by First Data Corp., which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations, found that more consumers opted to pay with credit cards in January.

According to the First Data SpendTrend report for January 2011, transaction growth on credit cards was at a 13-month high in January and year-over-year credit dollar volume growth was the second highest in over a year.

Palatine, Ill. -- An overwhelming number (88%) of executives admit to a “moral responsibility” beyond regulatory requirement to make their companies more energy efficient, according to a recent poll of senior executives at Fortune 1000 companies. At the same time, however, 61% of respondents rank potential cost-savings as biggest motivator to save energy at the enterprise-level, outranking both environmental benefits and government regulations.

Columbus, Ohio -- DSW said Tuesday that it will acquire its largest shareholder Retail Ventures and turn it into a wholly owned subsidiary, helping to simplify its relationship.

According to the shoe retailer, the two companies signed a merger agreement, under which DSW will give stockholders 0.435 of a DSW share for each share they hold of Retail Ventures.

Retail Venture holds a 62% stake in DSW.

The companies are slated to hold a conference on Wednesday to discuss the deal with investors.

New York City -- The Jones Group reported Wednesday that revenues for the fourth quarter rose 12.5% to $874 million, from $777 million in the year-ago period.

The company attributed the fourth quarter performance to the June 2010 acquisition of the Stuart Weitzman business, as well as increases in various business segments.

Jones Group closed 44 retail locations in the fourth quarter to end the year with 803 locations (which includes acquired Stuart Weitzman locations). The company closed 194 locations in 2010.

San Bernardino, Calif. -- Supermarket retailer Stater Bros. Holdings said Wednesday that net income for the quarter ended Dec. 26 dropped to $1.3 million, compared with net income of $6.7 million in the year-ago period. The prior year results included an after-tax gain of $4.7 million.

Sales declined 2.3% to $899 million in the first quarter. Same-store sales also decreased 2.3%.

CHICAGO — While many consumers tend to choose less expensive products when times are tough, lower-income Hispanics that predominantly speak Spanish tend to buy brand-name personal care products at a higher rate than their English-dominant counterparts, according to recent research by Mintel.