Costco Q2 Up On Strong Holiday Sales

Costco has reported a strong jump in profits for its fiscal second quarter, helped by growth during the holiday season and by higher gasoline prices. For the quarter, net profit rose by 16% to $348m, while sales grew by 11% to $20.45bn, even as like-for-like sales were up 7%. The warehouse club giant added that membership fees were also up, rising by 10% to $426m. The growth has continued into the third quarter, with Costco noting that sales in February jumped up 14% to $6.38bn, with like-for-like sales up 8%.

Kam City

The Fresh Market, Inc. Reports Fourth Quarter and Full Year Earnings

The Company reported a net loss for the fourth quarter of fiscal 2010 of ($18.1) million compared to net income of $20.8 million for the fourth quarter of fiscal 2009. Adjusted net income increased $3.3 million, from $12.7 million in fiscal 2009 to $16.0 million in fiscal 2010.  Net income for fiscal 2010 was $22.9 million, which includes the impact of the IPO-related charges, compared to net income for fiscal 2009 of $49.2 million. During fiscal 2010, the Company opened 8 new stores and remodeled one store.

Stock Market Review

BJ's 4Q Earnings Fall on Charges

BJ's Wholesale Club Inc.'s fiscal fourth-quarter net income fell 81 percent on one-time charges. Adjusted earnings beat expectations. The wholesale club operator earned $10.2 million, or 19 cents per share, for the quarter, compared with $54.5 million, or $1 per share, last year. Excluding a charge related to store closings, restructuring and asset impairment, earnings rose to 95 cents per share.

ABC News

Best Buy Jumps into Free-Delivery Frenzy

Add Best Buy to the list of big-box retailers looking to jump-start home appliance sales. The Minneapolis-based chain is upping the ante on competitors, and says it is now offering free delivery, haul-away, and no-interest financing on all its home appliance purchases. In order to qualify, purchases must be over $429, and consumers need to pay for the machines in full within 18 months of purchase. Best Buy will also haul away and recycle old appliances. All told, it says the service represents a $69.99 value. 

Media Post

GNC Private-Label Products Arrive at Sam's Club

After providing its products to Rite Aid customers through a co-branded store format for more than a decade, GNC is making its foray into the warehouse club for the first time by offering select private-label products at Sam's Club locations. GNC's products will boost Sam's Club's current health-and-wellness offerings by extending GNC's specialty retailing brand to mass-market customers. Prior to this deal, GNC products only were available at GNC-branded stores and Rite Aid.

Drug Store News

Seniors Get Savings at Waldbaum's

A&P's Waldbaum's has launched "Senior Appreciation Tuesdays," a discount program for those ages 55 and up. Each Tuesday, seniors can get 5% off their bill by using a coupon printed in the weekly circular. To get the savings, they must spend at least $30 and use their loyalty card. Only one coupon can be used per customer.

Supermarket News

Grocery Market Growth Slows - Sainsbury's And Morrisons Outperform

The latest grocery share figures from Kantar Worldpanel for the 12 weeks ending 20 February 2011 show that the market is subdued as shoppers watch their pennies. Overall market growth slowed slightly this period to 3.9% compared to 4.2% last month. However, both Sainsbury's at 5.2% and Morrisons at 4.5% outperformed, growing ahead of the market.

Kam City

Sainsbury's Checks Out Smart Grid Device for National Rollout

Supermarket giant Sainsbury's has confirmed that it has installed dynamic demand management technology in 200 outlets. The retailer had conducted trials of the technology in three stores in the South East and, following a successful pilot period, the company is rolling out the technology in a further 200 supermarkets across the country after signing a 10-year deal. The move will save an estimated 10,000 tonnes of carbon emissions a year as part of Sainsbury's goal of cutting emissions 25 per cent by 2012.

Guardian

Ocado Extends Delivery Service into West Country and Southern Wales

Ocado has begun offering deliveries in the West Country and South Wales for the first time. The move comes after the online grocery retailer opened a new regional distribution spoke in Avonmouth, Bristol. The new base gives Ocado the capacity to deliver to a million more homes in Wales and the west of England. The site has launched with 20 delivery vans, 45 drivers and a small management team.

Kam City

Aeon Begins Life Under Single Supermarket Banner

Aeon has begun operating its supermarket outlets under a single unified banner, a move which sees the end of three fascias. Effective 1 March, the group now operates all its large supermarkets under the Aeon banner. The move sees the end of the Jusco, Saty and Posful banners, after business units Aeon Retail and Mycal were merged into a single entity. 

Kam City