Big Lots Profit Up In 4Q; Outlook Boosts Shares

Big Lots' fourth-quarter net income grew thanks to the strong sales at new stores. The company expects to open 90 additional stores this year and, while comparable store sales should rise 1 percent to 2 percent, the company said overall sales will likely rise as much as 6 percent. Big Lots opened 27 new stores in the quarter and operated 1,398 locations in 48 states as of the end of fiscal 2010.

Bloomberg Businessweek

Not Enough Access to Healthy Foods in Bay State

Troubling new study found Massachusetts ranked as one of the worst states in the nation for offering residents fresh food options. Massachusetts Public Health Association reports places like Boston, Springfield and Brockton have 30 percent less supermarkets per person than the national average.

NECN

Ikea Assembling Plans for Huge Expansion

Burlington Ikea wants to build an enormous big-box store and national headquarters on the site of a former metal recycling plant. Ikea, known for its assembly-required modern furniture, quirky naming of products and one-way winding path through room settings, has five stores in Ontario and 11 across Canada. If the expansion goes ahead, Burlington would become one of the chain's full-format stores. There are other expansions happening in Ottawa and Richmond, B.C.

thespec

Savers Buys 18 Stores from Unique Thrift

Savers Inc. has bought 18 stores from Unique Thrift LLC, giving the Bellevue-based company that operates thrift stores under the Value Village brand a strong foothold in the fast-growing Washington, D.C., area.  The company plans to continue in growth mode, with plans to open more than 100 new stores in the next five years.

Puget Sound Business Journal

Lidl Sees Growth in FY Profits, Sales

Lidl has once again reported steady growth for its fiscal year, according to figures published in the Federal Gazette. For the year ending 28 February 2010, the group said its net profit surged up 62% to €665m, while revenue rose by 2.3% to €31.5bn. Meanwhile, sister chain Kaufland saw its profit drop by 11.4% to 1.8bn koruna (€74m), with sales growing by 4.4% to 33.4bn koruna (€1.38bn). Kaufland operates 95 hypermarkets in the market.

KamCity 

Shake-up for Struggling 'Son of Woolworths'

For fans of Woolworths, it was seen as the noble resurrection of a much-loved business. But just 18 months after its first store opened, the Alworths chain is in the midst of a shake-up that will see it acquire new ownership. Retail Week reports today that founder Andy Latham has quit as a director, while setting up a new firm, Retail Acquisitions, which is due to take control of Alworths.

London Evening Standard 

China Jo-Jo Drugstores Enters Shanghai Market

China Jo-Jo Drugstores, Inc., which operates retail pharmacies in the People's Republic of China, today announced the opening of a new store in Shanghai, marking the Company's entry into one of the wealthiest cities in Southeast China.  The Company anticipates opening at least 10 locations in Shanghai over the long-term to meet the local requirements for a chain drugstore.

BusinessWire