News

Dallas -- Alliance Data Systems Corp., a provider of loyalty and marketing solutions derived from transaction-rich data, and Zale Corp., announced a national agreement between Alliance Data's Canadian coalition loyalty business and Zale Canada. The agreement provides for Zale's Canadian brands, Peoples Jewellers and Mappins Jewellers, to participate as the exclusive sponsors in the fine jewelry category in the Canadian Air Miles Reward Program.

PLEASANTON, Calif. -- Higher fuel sales and a slight increase in identical-store sales helped Safeway meet its expectations for the first quarter of 2011.

Seattle -- Starbucks on Wednesday reported that its second-quarter profit rose 20% as more customers visited its stores, and it raised its earnings forecast for the year.

The company said it earned $261.6 million for the quarter ended April 3, up from $217.3 million a year earlier. Revenue rose nearly 10% to $2.79 billion.

Brentwood, Texas -- Tractor Supply Co. said Thursday it approved a $600 million stock buyback program, increases its existing share buyback program to $1 billion. The program was established in February 2007, and is extended through April 30, 2015.

The chain said it will also increase its quarterly cash dividend to 12 cents per share.

Regional supermarket chains that offer grocery delivery services may soon have some competition from Walmart if its program is expanded nationwide. According to several reports including one in The Wall Street Journal and another in The New York Times, Walmart is testing its Walmart To Go service in San Jose, Calif. 

NEW YORK -- Wal-Mart Stores CEO Mike Duke said rising gas prices are hurting the chain’s main customers, who are having an even harder time stretching their dollars to the next payday than they did a year ago.

"There's no doubt that rising fuel prices are having an impact on our customers," said Duke at an event that was part of The Wall Street Journal's executive breakfast series, according to the Associated Press. "There's more pressure."

NAPERVILLE, Ill. -- OfficeMax started fiscal 2011 off with sales declines and lower earnings. The company announced that total sales were $1.8 billion in the first quarter of 2011, a decrease of 2.8% from the first quarter of 2010.  For the first quarter of 2011, OfficeMax reported net income available to OfficeMax common shareholders of $11.4 million, or 13 cents per diluted share. For the first quarter of 2010, OfficeMax reported net income of $24.8 million, or 29 cents per diluted share.

By Jim McNeill and Gary K. Brucker Jr., [email protected], [email protected]