Family Dollar Reports Record Second Quarter Earnings

Family Dollar Stores, Inc. reported that net income for the second quarter of fiscal 2011 ended February 26, 2011, increased 9.8% to $123.2 million compared with net income of $112.2 million for the second quarter of fiscal 2010. Net income per diluted share for the quarter increased 21.0% to $0.98 compared with $0.81 for the second quarter of fiscal 2010 ended February 27, 2010. The increase in comparable store sales was a result of increased customer traffic, as measured by the number of register transactions, and a modest increase in the value of the average customer transaction.

Enhanced News Online

Where Aldi Succeeds

While Wal-Mart revives its plans to get into New York City, a giant German retailer has slipped in relatively unnoticed.  In February, with virtually no opposition, discount retailer Aldi opened its first store in the city, and plans to open a second one, in the Bronx, later this year. Even though Aldi, like Wal-Mart, is nonunion, it has faced little resistance, compared with the heated opposition often headed by unions and politicians that Wal-Marts have encountered in larger markets. Within the last few years, Aldi has accelerated its expansion by adding more than 250 stores, with plans for 80 more both in 2011 and 2012. 

NY Times

Walmart Canada to Open 3 More Supercentres in Quebec

Walmart Canada, a unit of the world's biggest retailer Wal-Mart Stores , said it plans to open three more supercentres in Quebec. It said Vaudreuil, Saint-Eustache and Saint-Jérôme locations will be converted to supercentres this year. In January, Walmart Canada, which already has its centers in Ontario, Alberta, British Columbia and Saskatchewan, said it planned to open 40 more supercenters in the country.

Reuters

Migros Reports Quiet FY Results

The Migros group has reported very modest growth in profits and sales for 2010, and admitted that it had slightly lost market share during the year. For the year, net profit edged up 0.9% to 581.6m francs, while revenue grew by 0.4% to 25.04bn francs. The company said profits were affected as it was forced to lower prices during the year. However, CEO Herbert Bolliger said 2010 had been "a very good year" for the company, noting that profits had surged by 20% in 2009, leading to tough comparatives. 

Kam City

BC Partners Buys Norwegian Discount Retailer Nille

BC Partners said it has agreed to buy Norwegian discount retailer Nille from Herkules Capital. Financial details of the transaction weren't disclosed but a person familiar with the situation said the deal was worth around EUR250 million. Over the last five years Nille's revenue has increased to EUR170 millio. Under Herkules' ownership the company has upgraded its store concept focusing on home improvement and seasonal events and has streamlined its sourcing and logistics. It has also increased the number of its stores to around 330. Nille said it aims to boost revenue to over EUR255 million by 2015 as it rolls out a further 18 stores in Norway in 2011 and expands into new markets. 

Wall Street Journal Online

Penny Launches Ambiente Concept in Market

Rewe's Penny chain has launched its Ambiente store concept in the Czech Republic, as it continues to expand the format across Europe. The first such store will be a revamped Penny store in the town of Újezd nad Lesy. The Ambiente format was first introduced in 2008, and Penny is expected to complete rolling out the concept to all its 300 stores in Italy by April. The concept offers a market-style display of fresh produce, brighter and more colourful store layout, and chiller cabinets. 

Kam City

SPAR Expands ISS Contract with 17 More Stores

SPAR has expanded its contract with ISS Facility Services to supply a further 17 stores at 15 RAF bases across the UK. The deal is expected to create an estimated turnover of £10m per year. As ISS has already traded with five Capper & Co. stores, the combined group has now increased to represent 22 SPAR sites. All 17 SPAR stores will be refurbished and developed into the company's 'Stores of the Future' design within the first year of the contract. The sites will all be fitted with the latest SPAR PoS systems and some stores will offer a combined convenience and seated food-to-go /coffee concept.

Kam City

Madison.com