News

The Canadian division of Toys "R" Us has added new distribution capacity in British Columbia to receive imports and improve shipping to local stores.

The 180,000-sq.-ft. facility, located in the Vancouver suburb of Delta, is the retailer’s third Canadian distribution center. It is strategically positioned to receive goods from overseas and domestic manufacturers who can now ship directly to British Columbia for distribution to local Toys"R"Us and Babies"R"Us stores.

Rapidly growing food retailer The Fresh Market experienced a bit of a hiccup with its third quarter results, but president and CEO Craig Carlock contends the company’s long term vision remains intact.

Sales at the 128 unit retailer increased 22.1% to $321.5 million and profits increased 19% to $10.9 million, but analysts were looking for stronger profits and lower expenses. Some also believed the company’s relatively young store base should have produced a same store sales increase stronger than the 5.6% figure the company reported.

Columbus, Ohio -- Express Inc. reported that its net income for the quarter ended Oct. 27 fell to $17.4 million, from $32.7 million a year earlier, amid a fall in same-store sales.

Net sales fell 4% to $468.5 million. Same-store sales declined 5%.

Branded food supplier ConAgra’s acquisition of private label rival Ralcorp promises to create an interesting new dynamic when it comes to trading partner relationships.

Earlier this week, the companies announced they had reached an agreement valued at $6.8 billion whereby ConAgra will acquire Ralcorp for $90 a share to create one of the nation’s largest food companies with annual sales of roughly $18 billion.

Pittsburgh -- American Eagle Outfitters Inc. on Wednesday reported a higher-than-expected third-quarter profit, helped by strong same-store sales. The chain also raised its full-year earnings prompting it to raise its full-year forecast for the second time this year.

Net income for the quarter ended Oct. 27 rose to $78.6 million, from $52.4 million a year ago.

Sales rose 11% to $910 million. Same-store sales jumped 10%.

CINCINNATI — Good news for Macy’s, which has closed the cash tender offer by its wholly owned subsidiary, Macy’s Retail Holdings, Inc., to purchase up to $700 million in aggregate principal amount of its outstanding debt securities.

“Through this transaction and our recent debt issuance, we have successfully improved our debt maturity profile and decreased our ongoing interest expense,” said Karen M. Hoguet, Macy’s, Inc. CFO.

Duluth, Ga. -- NCR Corp. announced a definitive agreement for NCR to acquire Retalix Ltd., a leading global provider of innovative retail software and services, for a cash purchase price of $30.00 per Retalix share, for a transaction value of approximately $650 million.

BOSTON — Gillette and its brand ambassador and Green Bay Packers Pro Bowl linebacker Clay Matthews have kicked off an online debate forum on Gillette’s Facebook page.

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