A.C. Moore 4Q Loss Worsens on Bleak Sales

Shares of A.C. Moore Arts & Crafts tumbled after the company revealed a widened fourth-quarter loss on much lower sales at its established stores. The Berlin-based retailer booked a net loss of $4.8 million compared with a loss of $500,000 in the same quarter last year. Revenue was $143.2 million, down 4.4% from $149.7 million a year ago, narrowly beating the Street's view of $142.15 million. Sales took a hit from a 4.3% decline in comparable-store sales.

Fox Business

Retail Giants Kohl's & Costco Receive Top Customer Experience Scores

A new research report published by Temkin Group, The 2011 Temkin Experience Ratings, provides information about customer experience based on a survey of 6,000 US consumers who had recent interactions with 143 large US companies. Industry leaders Amazon.com, Kohl's and Costco came out on top of the ratings in which only 24 companies or 16% of the total, received a "good" or "excellent" rating. 

Insurance News

Delhaize Banners Garner 2011 Energy Star Honors

Delhaize Group divisions Food Lion, Bloom and Bottom Dollar Food will receive major Energy Star recognition. The Salisbury, N.C.-based grocers were among 46 organizations honored in the Sustained Excellence category and among 111 overall 2011 award winners selected from more than 20,000 participants in the program. For almost a decade, the grocers have implemented a variety of sustainability initiatives, including energy conservation and lowering carbon dioxide emissions throughout its 11-state operating area, thereby reducing their energy consumption by more than 25 percent since 2000.

Progressive Grocer

Best Buy Wins Auction for Parts Firm

Best Buy Co. has won an auction to buy an electronics parts distributor that filed for bankruptcy after learning it had overcharged the giant electronics retailer by about $5.9 million. Richfield-based Best Buy stopped doing business with Kingston, N.Y.-based Partserach after the disclosure, forcing Partsearch to file Chapter 11 protection on Jan. 27, according to court documents. Best Buy had bid $6.1 million for Partsearch before winning the auction. 

Minneapolis Business Journal

Giant Food Launches Mobile Application

Giant Food has launched a mobile app for iPhone and Android that includes the most recent coupon circulars and syncs to customer loyalty accounts. The app also lets users shop for home delivery and place their Peapod orders from their phones. "We're thrilled to launch our mobile application and look forward to continuing to develop new ways to engage and satisfy our customers in the months ahead," said Giant Food public relations manager.

Washington Business Journal

Sonae Group Denies Total Elimination of Modelo Brand

Sonae MC, owner of the Continente and Modelo food and retail chains, has denied it will be replacing the Modelo name with its bigger Continente brand. Sonae MC said that its aim is to create a branding for their hypermarkets that will be easily recognized by consumers. In essence, it will transform Modelo into a sub-brand of Continente. The group also denied it will be closing any of its Modelo supermarkets. The entire process, which will also see changes to employees' uniforms, client fidelity cards, and in-store signage, is expected to happen from one day to the next.

The Portugal News

Chelmsford Co-op Reports Record Profit

Chlemsford Star Co-operative Society has reported a record trading profit for the year ended 29 January 2011. Gross takings at the Essex-based Co-op grew by 16.2% to reach £78.74m, aided by the opening of six new food shops and strong performances from the society's department stores and Funerals businesses. Trading profit jumped 46.8% to £2.07m. 

Kam City

Best Buy Confirms More Store Openings

Multichannel consumer electronics retailer Best Buy is on course to open five more stores in the UK this year. The US chain is planning openings for shops in Hayes and Bristol in April, before going on to open in Nottingham, Rotherham and Enfield later in the year. The move will extend the UK presence of Best Buy, which arrived in this country last year, to nine stores.

Internet Retailing

Gome to Speed Up Expansion after Strong FY

Gome, China's second-largest consumer electronics chain, has said it will accelerate its growth into smaller cities across the country. The announcement came even as it reported better-than-expected profit growth for its fourth-quarter and full year. The company reported that net profit for its fourth quarter jumped up 17.4% to 522.1m yuan ($79.6m), while full-year net profit surged up 39% to 1.92bn yuan. Sales for the year were up 19.3% to 50.9bn yuan. Gome opened 139 new outlets while shutting 39 during the year.

Kam City

Wal-Mart to Reopen 12 Quake-Hit Stores in Japan

Wal-Mart Stores Inc will re-open 12 of its Seiyu stores in Japan, which were affected by the earthquake, and is hoping to open the remaining 12 impacted stores as soon as possible. Wal-Mart has 371 stores and 43 deli outlets in Japan, of which 24 were affected by the March 11 earthquake and tsunami that left more than 27,000 people dead or missing across Japan's devastated northeast. Of Wal-Mart's affected stores, two were severely hit and were completely covered by mud.

Reuters

Madison.com