News

CITY OF COMMERCE, Calif. — First it was Family Dollar, now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

The company has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.

Jacksonville, Fla. -- Stein Mart reported Thursday that fourth quarter profit surged to $18.8 million from $2.7 million in the year-ago period. Results included an income tax benefit in fourth quarter 2010.

Revenue for the quarter ended Jan. 29 decreased 1.5% to $336.7 million, compared with $341.8 a year earlier. Same-store sales dipped 1.2%.

BENTONVILLE, Ark.  -- Through March 13, Sam's Club is offering an eValues trial to its advantage and business members. According to the company, the eValues program is an exclusive program that delivers tailored offers to consumers based on unique shopping patterns. The trial program will enable all Sam's Club members to receive a benefit usually afforded only to members with Sam's Club Plus.

Laval, QC -- Canadian c-store operator Alimentation Couche-Tard reported Thursday that net income for its fiscal third quarter rose 29.6% to $71 million, compared with $54.8 million in the year-ago period.

Revenues rose 13.7% to $5.6 billion. Same-store merchandise sales were up 3.9% in the United States and 0.4% in Canada.
 
Alimentation Couche-Tard operates a network of 5,874 convenience stores in the United States and Canada.

Shareholders of Wal-Mart de Mexico elected three new female board members at the company’s annual meeting yesterday, bringing to six the number of women on the company’s eleven-member board.

The new members include Shelley Broader, chief merchandising officer of Walmart Canada, Olga Gonzalez, Walmart’s VP audit services for Latin America and Kristin Oliver, SVP people for the Walmart International division. Other women on the board include Cathy Smith, Blanca Trevino and Kristin Oliver.

JACKSONVILLE, Fla . -- Stein Mart announced that its costume and sterling jewelry buyer, Lori Cassidy, was named to the 2011 Merchants Hall of Fame by the trade publication Accessories magazine.

BENTONVILLE, Ark. -- The Walmart Foundation announced that is committing more than $2.5 million in grants to various projects aimed at improving the lives of women in Latin America. 

"We believe that when women achieve economic empowerment, their voices are also empowered," said Eduardo Solorzano, president and CEO of Walmart Latinoamerica. "So not only will they be able to create more stable futures for their families, they will play transformational roles in bettering the lives of women and children across Latin America."

New York City -- Aeropostale's fourth-quarter profit slid 13% amid weaker gross margins and falling same-store sales. For the quarter ended Jan. 29, the chain posted a profit of $83.8 million, down from $96.6 million a year earlier.

Revenue increased 5% to $839.3 million, from $801.2 million in the year-ago period. Same-store sales decreased 3%.

For the full year, net sales increased 8% to $2.4 billion, from $2.23 billion a year earlier. Same-store sales inched up 1%.