Big Lots Up for Sale?

Big Lots Inc., the largest broad-line closeout retailer, is looking for strategic choices which might include the sale of the company.  The buzz is that Thomas H. Lee Partners LP and Bain Capital LLC would be interested in the acquisition.  For the bidders, Big Lots offers a striking prospect for acquisition, as it has a healthy balance sheet with almost no debt. However, Big Lots operates in extremely aggressive money off retail business, faces sturdy competition from other general merchandise retailers.

Zacks

Conn's, Inc. Reports Net Sales Results for the Quarter

Conn's, Inc., a specialty retailer of consumer electronics, home appliances, furniture, mattresses, computers and lawn and garden products, announced its net sales results for the quarter ended January 31, 2011. Net sales for the quarter ended January 31, 2011, of $180.1 million, increased $9.1 million, or 5.3%, as compared to the quarter ended January 31, 2010. Net sales represent total product sales, repair service agreement commissions and service revenues. 

Trading Markets

JCP Adding 120 Electronic Options

Plano-based J.C. Penney Co. plans to install large touchscreens at 120 stores.  The 42-inch "findmore" screens will allow customers to buy items and sizes not in stock at the store, look for additional information and even e-mail the info to friends.  Also, Penney's is launching a jewelry department iPad app that lets customers compare ring features.

Dallas Business Journal

Kroger to Use MyWebGrocer for Digital Services

Kroger has announced that it will use MyWebGrocer's digital solutions for its online services. The grocery giant said the deal will help it provide consumers with faster access to online planning tools, including circulars, personalised shopping lists, and recipes.  CEO of MyWebGrocer, noted "Kroger understands their customers' needs, and knows that providing these services drives increased customer value and loyalty. We're thrilled to add Kroger and their 40 million consumers to our platform."

Kam City

Martin's Getting More In-Store Bank Branch Locations

Union First Market Bank will open seven addition in-store branches at Martin's Food Markets stores in Virigina. The bank currently operates branches at 22 Martin's locations in the state. The new branches will extend the companies' partnership, which began in March 2010 when Martin's parent, Ahold USA, acquired the Ukrop's Super Markets Chain, beyond the Richmond, Va., market area.  The locations of the seven branches will be Winchester, Waynesboro, Stephens City, Harrisonburg and Staunton and Culpeper, Va.

Progressive Grocer

Vester Reports Strong FY Sales

The Vester grocery chain has reported strong results for the fiscal year 2010, with sales jumping by 26% to 12.6bn roubles (€316m). The company said it was satisfied with the results, and expects sales this year to top those recorded in 2008, before the recession hit. Vester noted, "We consider 2011 as the first year of development after the crisis. We'll open several significant facilities and we'll announce them after they are launched".

Kam City

Dutch Retailer IMpact Retail BV Files for Bankruptcy after Increased Competition

IMpact Retail BV, owner of 118 Dutch retail electronics stores and websites, has filed for bankruptcy, the company says in a notice in on its website.  IMpact's chains include the "It's," "Modern Electronics" and "PrijsTopper" names. It was estimated to have around 1,500 workers and 400 million euro in sales in 2005.  

The China Post

Poundland Set for Growth with 50 Store Openings

Budget retail giant Poundland is set to expand further with the opening of at least 50 new UK stores over the next year.  Chief executive Jim McCarthy said that the Willenhall-based chain was better placed than some of its competitors with "flexible pricing", as Poundland's single price policy "would not be affected by the VAT rise or inflation".

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