Target to Work on New Formats after Solid Q4 Growth

Target has said it will continue to work on launching and expanding new formats and concepts, encouraged by the success of initial stores. The plans were revealed after the group reported strong growth in its year-ending quarter. The discount giant said it will expand its new 'Pfresh' concept sections to 380 additional stores this year. Target said that net profit for the three months to 29 January rose by 11% to $1.04bn, with revenue up 2.4% to $20.7bn, and like-for-like sales up 2.4%.

Kam City

Safeway, Loblaw Report Mixed Q4 Growth

Grocery giants Safeway and Loblaw have reported mixed profit growth for their year-ending quarters, even as they both warned of rising product prices. In the US, Safeway swung to a profit of $229.6m, reversing last year's $1.61bn loss. Sales edged up by about 1% to $12.8bn, but like-for-like sales declined by 0.8%. Meanwhile, Canadian market leader Loblaw saw its net profit fall by 8.5% to C$151m, with sales down 2.1% to $7.1bn, and like-for-like sales down by 1.6%. For the full year, net profit was up 3.8% to C$681m, while sales grew by 0.9% to C$31bn.

Kam City

First Walmart Express Set for Q2 Opening

Wal-Mart Stores said it plans to open its first Walmart Express during the second quarter. It was the first time Wal-Mart made a public reference to the banner of the new small-store format, which will be "under 30,000 square feet," a company spokesman told SN, though he declined to be more specific.

Supermarket News

IKEA's Thrifty Nature Spells Success for Chain

In the fiscal year 2010, IKEA's sales grew by 7.7% to €23.1 billion and net profit increased by 6.1% to €2.7 billion. IKEA's strong brand and low prices helped it to weather the downturn, even though 80% of its sales are in crisis-hit Europe. In 2010 its sales rose by 8.2% in Spain and 11.3% in Italy. The firm is doing well in Bulgaria and Romania and planning to expand further in central and eastern Europe. They also plan to double the pace of store openings in China, where IKEA already has 11 outlets.

The Economist

ShopRite Mobile Apps Cross Three Dominant Platforms

ShopRite's mobile application can now be used on the three dominant mobile platforms -- the iPhone and Android operating systems, and the mobile web - enabling the grocer to reach its shoppers through virtually any smartphone. The technology allows ShopRite customers to access online specials and create digital shopping lists right from their mobile devices. Within the app, customers can browse digital circulars to see all the items on sale that week at their local store, and select items to add to their online grocery-shopping list. 

Progressive Grocer

Weis Lifestyle Initiatives Now Part of Pharmacy Division

Weis Markets streamlined its internal connection between wellness and pharmacy earlier this year with an organizational restructure that folded Weis Lifestyle Initiatives department into the grocer's pharmacy division. Weis Markets last year overhauled its flagship format, featuring a redesigned pharmacy that makes the pharmacist more accessible. The new floor layout incorporates a dedicated consultation room, where Weis pharmacists can consult with patients around their drug regimens and administer vaccination shots.

Drug Store News

Wal-Mart de Mexico to Open 445 Stores in 2011

Wal-Mart de Mexico SAB (Walmex) plans to increase investment by 45% in 2011 from last year as it expands its business in Mexico and Central America, Bloomberg reported. Capital expenditures will increase to 18.97 billion pesos ($1.56 billion) this year. Wal-Mart de Mexico, which now operates more than 2,000 retail stores and restaurants, plans to open 445 stores in 2011. It will open 365 of the new businesses, mainly warehouse and discount stores, in Mexico. Walmex plans to open 80 stores in Central American nations.

Chain Store Age

Focus DIY Sells Six Stores to Asda

The troubled DIY chain Focus has offloaded six stores to the supermarket group Asda for an undisclosed sum. Focus said the stores are in Aberystwyth, Clevedon, Gillingham, Stamford, Torquay and Woking. The 180-store DIY retailer, which is burdened by loans of about £230m, needs fresh funds to invest in its new store format that has so far yielded promising results. The chairman of Focus, said: "If there are selected assets that can be disposed of to create funds for future investment in the new stores that would be considered. And we are in discussions with many retailers including the big four supermarkets."

The Independent

Australian Supermarket Woolworth Posts 6% Rise in H1 Profit

Australia's largest supermarket retailer Woolworths Ltd on Friday reported its lowest first-half profit growth since 1999 as higher interest rates and concerns about the economy dampened consumer spending. Woolworth said its first half net profit rose six percent to 1.16 billion AU dollars (1.18 billion U.S. dollars). Woolworth said its revenue rose 4.2 percent to 28.42 billion AU dollars (28.80 billion U.S. dollars) for the 27 weeks to January 2 this year compared with the previous corresponding period.

Peoples Daily