News

Matthews, N.C. -- Family Dollar Stores' third-quarter net income increased 6.5% as broader markdowns drew more store traffic. Its results, however, fell short of analysts' expectations.

For the quarter ended May 28, Family Dollar had net income of $111.1 million, compared with $104.4 million a year earlier.

Revenue was up 8% to $2.15 billion. Same-store sales rose 4.7%.

Family Dollar said sales were strongest in consumables and home products.

ST. PETERSBURG, Fla. — HSN announced that on Sept. 21 and 22 it will debut an exclusive collection from designer Adam Lippes.

Lippes Love ADAM collection will feature sleek button down blouses, modern wide-leg pants, printed dresses, fur-trimmed outerwear, embellished skirts and cropped jackets, HSN reported.

Columbus, Ohio-based Steiner + Associates announced that the city of Hampton, Va. has been awarded the 2011 Donald E. Hunter Excellence in Economic Development Planning Award by the American Planning Association for the Peninsula Town Center. Located in Hampton, Va., the Peninsula Town Center represents the successful redevelopment of an enclosed mall into a vibrant town center, providing approximately 2,400 new jobs and significantly increasing the taxable sales base in the city. The site has been effectively transformed from the Coliseum Mall into a regional destination.

MATTHEWS, N.C. — Increased customer traffic during Family Dollar’s third quarter may have helped the company produce a 4.7% same-store sales increase, however earnings per share that advanced 18.2% to 91 cents were four cents shy of analysts’ consensus estimate of 95 cents.

New York City -- BJ's Wholesale Club announced on Wednesday that it has agreed to be acquired by the private equity firms of Leonard Green & Partners and CVC Capital Partners (“CVC”) in an all-cash transaction valued at approximately $2.8 billion.

BJ's, based in Westborough, Mass., has 190 stores in 15 states. The company said its board unanimously approved the buyout.

EDEN PRAIRIE, Minn. — Supervalu announced that plans to transition 40 stores to zero waste operations by the end of its current fiscal year ending Feb. 29, 2012. 

NEW YORK — Trucks that operate around major U.S. ports tend to be heavier polluters than their over the road counterparts but that situation could change thanks to a new initiative that has drawn support from major retailers and government and non-government entities.

SALISBURY, N.C .— Delhaize-owned Bloom announced that it has launched a free app for iPhone, iPad and iPod users.

The new mobile application, developed in partnership with Mercatus Technologies, gives guests easy access to weekly specials with the capabilities to build and manage virtual shopping lists and view delicious recipes through the grocer's Taste Mapper system, the company reported.