News

MINNEAPOLIS — Supervalu reported a loss of $111 for its second quarter, compared with net income of $60 million in the year-earlier quarter.

Revenue fell 4.6% to $8.04 billion in the quarter ended Sept. 8, from $8.43 billion in the year-earlier quarter. The decrease in net sales was blamed on both a decline in identical-store sales and the sale of a majority of the company’s gas stations, which had contributed $158 million in revenue in the second quarter last year.

New York -- Hudson's Bay Co. announced that it has filed a preliminary prospectus with securities regulators in Canada for a proposed initial public offering of common shares. The company, which has been owned by NRDC Equity Partners since 2008, operates U.S. department store chain Lord & Taylor, along with The Bay and Home Outfitters chains in Canada.

WAYNE, N.J. — Toys"R"Us has extended its free layaway program through Dec. 16. The program, announced in September, was originally slated to end on Oct. 31.

Sam’s Club cashiers could become an endangered species if an expanded test of a payment platform at a new club in Kansas City is embraced by members.

WOONSOCKET, R.I. — CVS Caremark has appointed Alan Lotvin to the position of EVP specialty pharmacy.

Lotvin has extensive experience in the pharmacy benefit management and specialty pharmacy industries. Prior to joining CVS Caremark, Lotvin was president and CEO of Icore Healthcare, a Magellan Health Services company. Previously, he has held roles as president and COO of M|C Communications, a medical education provider, and served in various senior management positions at Medco Health Solutions, including president of specialty pharmacy services.

PITTSBURGH — Dick's Sporting Goods has launched its first-ever winter coat trade-in event.

From Oct. 21 through Oct. 27, customers can donate their gently-worn winter coats at their local Dick's store. Donated coats will then be distributed in the United States to those in need through a partnership with World Vision.

WHITING, Ind. — An online consumer survey shows that nearly half of consumers go into brick-and-mortar stores with their smartphones to research items without buying them and then looked for the same item at a lower price online.

The 2,361-adult survey, conducted by Harris Interactive on behalf of CouponCabin.com between Sept. 18 and 20, found that 43% of smartphone and tablet owners have engaged in the practice, known as "showrooming."

New York -- Uniqlo, a division of Japan's Fast Retailing Co. Ltd, will launch its U.S. e-commerce site next week, a crucial part of its drive to earn $10 billion in overall North American sales by 2020, Bloomberg reported.

"By opening this e-commerce site now, we are able to cater to customers across the United States," said Uniqlo USA CEO Shin Odake in the Bloomberg report.

Uniqlo currently has five U.S. locations, including new sites in San Francisco and New Jersey, along with its other three in Manhattan.