News

NEW YORK — McDonald’s, Whole Foods Market and Best Buy are among the retailers participating in a new American Express program that allows shoppers to load discounts onto their American Express cards via Twitter.

Johannesburg, South Africa -- A South African regulatory body gave Wal-Mart permission on Friday to move ahead with its $2.2 billion purchase of South African chain Massmart.

The Competition Appeal Court upheld a ruling last year by the Competition Tribunal, but did require a study to determine a path to protect small producers who might not be able to compete with foreign producers from whom Wal-Mart can import cheaper goods.

Although Walmart International has completed three acquisitions during the past 12 months, it is actually the least preferred method of growth, according to international division CFO Cathy Smith. Just imagine if acquisitions were the top priority.

Smith’s comments about acquisitions came earlier this week at a Raymond James and Associates investor conference where she appeared with treasurer Jeff Davis and detailed four dimensions of Walmart’s international growth strategy.

Birmingham, Ala. -- Hibbett Sports Inc. reported Friday that profit for the quarter ended Jan. 28 jumped 27% to $15.8 million, compared with $12.5 million in the year-ago period.
 
Revenue increased 10% to $190.7 million from $173.2 million, missing Wall Street’s expected $192.2 million in revenue. Same-store sales rose 7.2%.

For the full year, Hibbett reported net income of $59.1 million, up from $46.4 million last year. Revenue rose to $732.6 million, from $665 million.

Overall, February witnessed a year-over-year decline in total flyer circulation per market as well as pages per market. Conversely, the biggest change in this month was witnessed by Walmart, which saw a considerable jump in flyer circulation as well as the number of pages. This dramatic increase of 122% increase in flyer drop was mainly due to the two extra flyers dropped in the second and fourth week of February this year unlike the previous year.

JOHANNESBURG, South Africa — A South African regulatory body gave Wal-Mart Stores permission on Friday to move ahead with its $2.2 billion purchase of South African chain Massmart.

The Competition Appeal Court upheld a ruling last year by the Competition Tribunal, but did require a study to determine a path to protect small producers who might not be able to compete with foreign producers from whom Wal-Mart can import cheaper goods.

NEW YORK — Belgian supermarket operator Delhaize Group said that its fourth quarter net profit dropped 48%, hurt by impairments resulting from its restructuring. It also announced that Mats Jansson will be the new chairman of the board, and that Pierre Bouchut will succeed Stefan Descheemaeker as CFO, effective March 19.

The company, whose U.S. holdings include the Food Lion, Hannaford Bros. and Sweetbay banners, said it will accelerate the revamp of its stores in the United States and Belgium to increase its competitiveness.

New York -- Aeropostale Inc. reported Thursday that profit for the quarter ended Jan. 28 dropped to $26.1 million, from $83.8 million a year earlier, hurt by heightened supply-chain expenses.

Revenue dipped 4% to $808.4 million in the quarter, and same-store sales fell 9%. Results edged Wall Street’s expected $807.6 million in revenue.

For the full fiscal year 2011, Aeropostale posted a profit of $69.5 million, compared with $231.3 million last year. Revenue to $2.34 billion, from $2.40 billion in fiscal 2010.