News

NEW YORK — After more than a year since it first filed Chapter 11, A&P has won approval to exit bankruptcy. The company announced that the U.S. Bankruptcy Court in White Plains, N.Y., has approved its reorganization plan, which includes $490 million in debt and equity financing from Ron Burkle's Yucaipa Cos. 

BOCA RATON, Fla. — Office Depot swung to profitability during the fourth quarter, despite a 5% comp sales decline at North American retail stores where the retailer shunned promotional activity during the holidays.

Broomfield, Colo. -- Level 3 Communications said Tuesday that Stein Mart will implement its Smart WAN Solution to support critical business applications.

Stein Mart will use Level 3's Smart WAN Solution to more efficiently and reliably access frequently used business applications, such as revenue reporting, data analytics, and inventory tracking, by connecting its store and data facilities over a single network.

Target will forever be associated with the weirdest Daytona 500 ever after the car it sponsors was mysteriously involved in a single car accident that caused a huge on-track fire and a two-hour delay that caused the already rained-delayed race to finish after midnight on Monday.

Broomfield, Col. -- Level 3 Communications announced that Stein Mart will implement Level 3's Smart WAN Solution to support critical business applications used by the company's 262 department stores throughout the United States.

Stein Mart will use the solution to more efficiently and reliably access frequently used business applications, such as revenue reporting, data analytics, and inventory tracking, by connecting its store and data facilities over a single network.

FAIRFIELD, N.J. — Consumers trust retailers will provide them with safe, effective products — no easy task when one considers the numerous items any given company can sell. This is especially true for such retailers as Wal-Mart Stores, which has approved a partnership with SGS for safety and compliance testing for all wireless and automotive products sold through Walmart and Sam's Club, both in store and online, for the U.S. market.

HOFFMAN ESTATES, Ill.— Sears quietly added all nine of its Great Indoors stores to the list of store closings on Feb. 23.

Store managers were informed last week, a Sears spokeswoman confirmed, but no exact date has been given for the closings.

The upscale remodeling and home décor stores began opening in 1998, long before the Sears and Kmart merger. At one point, Sears operated 20 of the units, but they were never a big moneymaker for the company.

North Bergen, N.J. -- Vitamin Shoppe reported Tuesday that net income for the fourth quarter surged 57% to $9.4 million from $6 million a year earlier, boosted by strong online results and an extra week in the fiscal calendar.

The vitamin retailer, which saw revenue climb 19% to $214.9 million in the quarter, said it is planning to open 52 new stores in 2012.