Stein Mart, Inc. Reports Fourth Quarter and Fiscal Year 2010 Financial Results Net income for the fourth quarter was $18.8 million compared to net income of $2.7 million in 2009. For the year, net income was $48.8 million compared to net income of $23.6 million in 2009. Two new stores were opened, five were closed and five were relocated in 2010. The company operated 264 Stein Mart stores at year-end compared to 267 at the end of 2009. "Our focus in 2011 is increasing sales by attracting more customers and building our share of their spending," commented Stovall.
Business Wire
Jo-Ann Stores Inc. Reports Higher Fourth-Quarter EarningsJo-Ann Stores Inc. has reported improved fourth-quarter results compared to the like period a year earlier. The fabric and craft retailer said its net income in the quarter that ended Jan. 29 rose 9%, to $40.4 million from $37.1 million. Sales at Jo-Ann edged up 3.6%, to $624.1 million from $602.2 million. "Jo-Ann Stores achieved another quarter of strong performance to end a year of significant growth in fiscal 2011," said Darrell Webb, chairman and CEO.
Cleveland Business
Wal-Mart Plans to Add "Hundreds" of Smaller-Format StoresExecutives with Wal-Mart Stores Inc. of Bentonville told attendees at an investor conference in New York that it plans to open 30-40 smaller stores this year in rural and urban areas. In all, the retailer, which has reported falling same-store sales at its U.S. discount stores, plans to add "hundreds" of smaller-format stores over the next three years. The report also said Wal-Mart plans to building its first "Express" stores, which are less than one-tenth the size of its average supercenter, next week in northwest Arkansas. Its first urban Express center is planned for Chicago's South Side.
Arkansas Business
Walgreens Sells Its Pharmacy-Benefit UnitWalgreen Co. is selling its pharmacy benefit management business, as the Deerfield-based drugstore giant pushes to get consumers to the pharmacy counter and away from mail order. The nation's largest drugstore chain said that it will sell Walgreens Health Initiatives for $525 million in cash to Catalyst Health Solutions Inc. Walgreens and other retailers are working hard to increase foot traffic into their stores by adding medical services such as vaccinations and primary care from nurse practitioners.
Chicago Tribune
ECOtality Teams Up with Fred MeyerElectric car-charging company ECOtality announced it will partner with the Fred Meyer grocery chain to install its Blink electric vehicle chargers at select stores in Oregon and Washington. Fred Meyer joins BP, Best Buy, and Cracker Barrel as corporate partners to San Francisco-based ECOtality, which is in the process of rolling out 1,100 public chargers in Portland, Salem and Eugene. The Fred Meyer store on Hawthorne in Southeast Portland, already has a place for electric cars to plug in.
Sustainable Business Oregon
Fresh & Easy Debuts 27 Exclusive California Wines Fresh & Easy Neighborhood Market added 27 exclusive California wines to its existing lineup. The new wines are sourced from vineyards in California's premium wine-growing regions including Napa Valley, Sonoma, Monterey and Santa Barbara, reported the company. They are priced from $3.99 to $19.99 and broken into seven new lines: I Heart CA, Wink, Pacific Coast Highway, Cloud Valley, WineWrights, Barrel Ranch and Open Field.
Convenience Store News |
