News

FORT WORTH, Texas — Pier 1 Imports continued its streak of strong same-store sales for the third quarter, reporting that same-store for the quarter ended Nov. 26 sales increased 7% versus last year’s increase of 10.2%. Net income for the quarter was $23 million, or 21 cents per share, which included an income tax provision of $12.4 million.

WEST DES MOINES, Iowa — Ric Jurgens, chairman and CEO of Midwestern supermarket chain Hy-Vee, will retire on June 1, the company said Wednesday.

Jurgens, 62, began working for Hy-Vee 42 years ago while a student at Iowa State University, taking a full-time position after his graduation. In 1995, he was named SVP and chief administrative officer, becoming president in 2001, CEO in 2003 and chairman in 2006. Jurgens said he will ask the company's board of directors to elect president and COO Randy Edeker as chairman and CEO.

Wal-Mart Stores' Mexican subsidiary, Walmex, is now part of the Mexican Stock Exchange's newly created Sustainable Index, the company reported. 

CHICAGO — A new report by ShopperTrak found that sales continue to rise despite flat year-over-year figures.

Sales for the week ended Dec. 10 rose 10.6% above the prior week, while year-over-year sales saw a decline of 1.9%. The drop, which followed a 0.2% year-over-year increase during the week ended Dec. 3, is not an indication that holiday sales will be dismal this year; the firm suggested that it may have been caused by the shifting dates of Hanukkah — moving from Dec. 1 in 2010 to Dec. 20 this year.

NEW YORK — A new survey by Angus Reid Public Opinion revealed a number of similarities and differences between the holiday shopping habits of people in North America and the United Kingdom.

The survey found that 40% of Americans, 41% of Canadians and 49% of Britons said they plan to spend less during the 2011 holiday season than they did last year, though 16% of Americans and 21% of Canadians said they're now in better financial situations. By contrast, 39% of Americans and 28% of Canadians said they're in worse shape, compared with 55% of Britons.

Jacksonville, Fla. -- Stein Mart Inc. said Wednesday that it has been put on notice by the Nasdaq exchange because it did not file its third-quarter results by the deadline.

The retailer said it has been given 60 days to submit a plan to regain compliance, or it could be delisted from the Nasdaq exchange.

SAN BERNARDINO, Calif. — Fourth quarter and fiscal year 2011 both proved positive for Stater Bros., the regional supermarket chain announced Tuesday.

For the fourth quarter ended Sept. 25, the retailer saw a 5% increase in sales to $941.9 million, compared with the year-ago period. For the 52-week fiscal year, sales rose 2.4% to $3.7 billion, the company said. Same-store sales for the fourth quarter and fiscal year experienced a 5% and 2.5% jump in same-store sales, respectively.

Walmart is hoping to catch some of those last-minute shoppers by holding its "Big Christmas Event" on Saturday, Dec. 17. 

On Dec. 17, Walmart said it will offer its lowest prices of the season on toys, games, electronics, bikes and more. In addition, Walmart.com is giving customers an extra day to shop by extending its shipping deadlines.