News

Minneapolis -- SuperValu reported net income of $60 million for its fiscal second quarter, compared with a year-ago loss of $1.47 billion that was the result of one-time charges. Although the company’s results beat analysts' estimates, it cut the high end of its fiscal 2012 earnings.

Revenue dropped 3% to $8.43 billion from $8.66 billion, but still beat Wall Street's estimate of $8.36 billion.

Philadelphia -- A report released Tuesday by Checkpoint Systems and the Centre for Retail Research found that global shrink has reached its highest level since it began measuring the data in 2007.

According to the Global Retail Theft Barometer, shrink is up 6.6% globally and up 6% in the United States over last year. Costs globally are $119 billion and the overall shrink rate is 1.45% of sales. Driving the increases are rises in shoplifting, employee fraud and organized retail crime rates.

TOPEKA, Kan. — Payless ShoeSource announced that it is inviting nonprofit organizations to join the retailer in its big holiday giving program, Payless Gives Shoes 4 Kids, where it will deliver more than $1.2 million of free shoes to children of families in need across the U.S., Canada, Puerto Rico and in 11 Latin American and Caribbean countries this holiday season.  

Washington, D.C. -- A report released Tuesday by the National Retail Federation and Hackett Associates said that import cargo volume at the nation’s major retail container ports is expected to increase 2.6% in October over the same month last year and should reach its highest level of the year as retailers stock up for the holiday season.

NEW YORK — Wegmans Food Markets has opened its first location in Massachusetts, in the town of Northborough. The 138,000-sq.-ft. store, the largest supermarket in New England, has a warm, welcoming feel.

PALO ALTO, Calif. — A location-based mobile shopping application has teamed up with a supermarket chain to reward users for buying specific products or brands.

Shopkick said users that shop at Giant Eagle now can utilize the app's Kickbuys technology at any of the chain's 228 stores. Shopkick users can collect thousands of "kicks" by buying featured products from many of the world's leading brands, Shopkick said.

Redwood Shores, Calif. -- Oracle announced it has entered into an agreement to acquire Endeca Technologies, Cambridge, Mass., which provides an unstructured data management, web commerce and business intelligence technologies.

WESTBOROUGH, Mass. — BJ's Charitable Foundation announced that it has donated $389,200 to 55 nonprofit organizations in the 15 states where BJ's Wholesale Clubs are located. The donated funds will be dispersed to organizations that focus in four areas: hunger prevention, self-sufficiency, health care and education, the company reported.