News

PLEASANTON, Calif. — Safeway Inc. reported net income of $145.8 million, or 41 cents per diluted share, for the second quarter of 2011 compared with $141.3 million, or 37 cents per diluted share for the second quarter of 2010.

The company reported that total sales increased 7.1% to $10.2 billion in the second quarter of 2011 from $9.5 billion in the second quarter of 2010. Identical-store sales, excluding fuel saw a 0.5% increase.

Ann Arbor, Mich. -- Borders Group on Thursday won court approval to liquidate its remaining 399 stores, even as it negotiates to sell up to 35 stores to Books-a-Million.

"This is a bittersweet day," said U.S. Bankruptcy Judge Martin Glenn before a packed courtroom. "There are a lot of sad people around the country, a lot of sad people in the corporate headquarters. But there has been a late-breaking development."

MATTHEWS, N.C. — Family Dollar Stores announced that it has named Christopher Nielsen to the position of VP loss prevention. Nielsen will report to Bryan Venberg, SVP human resources.

WASHINGTON — NRF reported that total back-to-school spending on grades K to 12 is expected to reach $22.8 billion. According to NRF’s 2011 Back-to-School survey conducted by BIGresearch, families with children in grades K to 12 will spend an average of $603.63 on apparel, school supplies and electronics, within a few dollars of last year’s $606.40 average. 

PLANO, Texas  — JCPenney said Tuesday that its veteran marketing chief Mike Boylson has retired from the company. His successor will be selected by newly minted CEO Ron Johnson in what will be the former Apple executive’s first senior-level appointment at JCPenney.

Boylson was with the department store chain for more than three decades, the last eight years as chief marketing officer. He said in June he would retire from the company on July 1, according to a JCPenney spokeswoman.

New York City -- Wal-Mart de Mexico SA said second-quarter profit fell 3.4% as the chain increased spending to open new stores and integrate Central American operations.

The Mexican unit of Wal-Mart Stores reported a net income of 4.49 billion pesos ($380 million) in the April-June period, down from 4.65 billion pesos during the same three months of 2010. Revenue rose 9% to 88.37 billion pesos ($7.49 billion).

CEO Scot Rank says spending to open new stores cut into profits but will help performance in the second half of the year.

SALISBURY, N.C. — Food Lion unveiled Wednesday six new stores in the Greenville, S.C., area market.

NEW YORK — Kmart is changing its approach to fashion with a new campaign focused on individual style rather than name brands or trends. The campaign, titled "Money can't buy style," will debut this fall and will feature non-actors in Kmart looks they've created themselves.