News

ASHEVILLE, N.C. — Net sales for Ingles Markets experienced a spike during the second quarter and first half of fiscal year 2012, the retailer reported Monday.

New York -- Microsoft Corp. and Barnes & Noble have entered into an agreement by which Microsoft will invest $300 million in Barnes & Noble’s digital-book (Nook) business and college texts unit.

With the arrangement, Barnes & Noble's digital and college businesses will become a new, still-to-be-named subsidiary in which Barnes & Noble holds an 82.4% stake and Microsoft owns 17.6%. The agreement also means the two companies have settled their patent dispute.

Dallas -- The Food Marketing Institute (FMI) announced that it has entered into a strategic business partnership with TopSource LLC, a sourcing company and wholly owned subsidiary of Topco Associates LLC. FMI said the partnership will provide its members the opportunity to support the foundations of their growing businesses with significant savings related to costs in not-for-resale areas.

NEW YORK — Millennial shoppers (consumers ages 18 to 34 years) now represent the highest percentage of Americans who do not have enough money to cover their basic needs, according to WSL/Strategic Retail, a leading authority on shopper behavior and retail trends.

PLEASANTON, Calif. — Recent events, which have driven Wall Street analysts to speculate that Safeway is a buyout target, are not interrelated, Safeway chairman and CEO Steve Burd assured analysts Thursday morning during the grocer's first-quarter conference call.

Sunbury, Pa. -- Weis Markets said it will invest $125 million in its 2012 growth program, a 25% increase compared with 2011.

“Our budget includes two new stores and 18 major remodels,” Weis Markets vice chairman Jonathan Weis said. “In addition, we expect to soon complete the purchase of three Genuardi's units near Philadelphia which we hope to reopen later this summer.”

Cary, N.C. -- The Pantry announced today that Mark R. Bierley, CFO, has resigned effective May 25, 2012. Bierley has accepted a position near his home in Michigan.

The convenience-store company will begin a search for a new CFO promptly. Berry L. Epley, VP and corporate controller, will assume Bierley’s responsibilities until a successor is named.
 

BENTONVILLE, Ark. — Walmart is working hard to improve its image with its latest announcement that its Acres for America program is conserving an additional 300 acres of land to protect and restore wildlife habitats in the heart of U.S. cities, including Bridgeport, Chicago, Portland, San Diego, and Washington, D.C.