Casey's General Q3 Results Hit by Revamp Costs

Casey's General Stores has reported a sharp drop in profits for its fiscal third quarter, hurt by expenses related to its recapitalisation plan. However, revenue grew ahead of forecasts, helped by continued expansion of its store network. For the three months, net profit was down 25% to $12.9m, after the chain incurred costs of $27.4m and a $1.7m charge linked to the hostile bid by Couche-Tard. However, overall revenue rose by 23.4% to $1.37bn, helped by growth in its general merchandise and food categories.

Kam City

Dick's Sporting Goods Reports Higher Fourth Quarter Profit

Dick's Sporting Goods Inc. reported a fourth-quarter profit of $87.49 million, up almost 30 percent from a year ago. The Findlay-based retailer earned $67.36 million, in the three months ended Jan. 30, 2010. Sales for the latest quarter totaled $1.52 billion, up 13.6 percent. CEO Edward W. Stack said the retailer "successfully navigated the storms of the recession," posting six consecutive quarters of same-store sales gains and opening 26 stores last year.

Pittsburgh Tribune-Review

Village Super Market, Inc. Reports Results for the Quarter

Village Super Market, Inc. reported its results of operations for the second quarter ended January 29, 2011. Net income was $6,616,000 in the second quarter of fiscal 2011, a decrease of 2% from the second quarter of the prior year. Net income decreased primarily due to lower gross profit as a percentage of sales. This decrease was substantially offset by improved sales and lower operating expenses as a percentage of sales. Sales were $329,917,000 in the second quarter of fiscal 2011, an increase of 4.6% from the second quarter of the prior year.

Traders Huddle

Here Comes the Bride, All Dressed by Costco

Costco has struck a partnership with Los Angeles designer Kirstie Kelly to sell a line of wedding dresses at in-store trunk shows. The first of these events will take place in California, but the trunk shows will tour to other Western states such as Colorado, Arizona, Washington and Oregon, as the year progresses. Kelly's Signature Collection bridal gowns do offer brides considerable savings compared with her typical bridal collections. The six designs offered in the Costco line range in price from $699 to $1,399, compared with $2,000 to $7,000 Kelly's dresses usually cost. 

CNBC

PriceRite Plans First Maryland Store

Wakefern Food Corp. said it plans to introduce its PriceRite discount banner for the first time in Maryland this Sunday, March 13, with a 37,000-square-foot store here. Wakefern, parent of the ShopRite banner, operates 45 corporate PriceRite locations, which feature both private-label and national brands in a price-impact format, with self-service meat and baked goods departments.

Supermarket News

Boots Named As One of the Best Companies to Work For

Boots Opticians and Boots UK have each been recognized in the Sunday Times Best Big Companies to work for. The 2011 listing awarded Boots UK 19th position while Boots Opticians achieved the top spot - ranked in first position. This is the second year that Boots Opticians and Boots UK have been recognized by the Sunday Times Best Companies listing, which was first established in 2001.

Kam City

Mydin to Invest 1.4 Billion to Open 14 New Hypermarkets

Mydin Mohamed Holding Bhd plans to open 14 new hypermarkets nationwide over the next few years by investing RM 1.4 billion. The group is also mulling the idea of raising some RM 350 million via a bond issuance the fund its expansion plan but declined to reveal details.  The amount can fund three hypermarkets, namely on in Seremban and two in Johor Baru, as on average, each hypermarket will cost RM 150 million.  It is to take between 12 to 15 months to complete a hypermarket. 

Bernama