Conn's Posts Q4 Loss, Higher Sales

Conn's reported higher revenues, but a net loss for its fiscal fourth quarter, ended Jan. 31. Total revenues were $213.4 million, up 2.9 percent from the same period in the prior fiscal year. The net loss was $3.4 million compared with the prior year's net profit of $1.7 million. Same-store sales increased 5.2 percent during the fourth quarter, as compared with a 31.7 percent decrease in the same quarter in the prior fiscal year.

Twice

Big Y Foods Introduces Fee-Based Discount Savings Card

The Big Y supermarket chain is rolling out a new discount program that works like a hybrid between a club membership and traditional store enticement. The "Silver Savings Club" of Springfield-based Big Y Foods Inc., which operates 61 supermarkets in Connecticut and Massachusetts, is a step toward the fee-based club memberships offered by warehouse stores. For a $20 annual charge, Big Y customers can buy a membership that gives them even deeper discounts on select items.

Courant

CVS, Walgreens Rank High in Retail Brand Value

CVS/pharmacy and Walgreens finished in the top 10 in Interbrand Design Forum's annual ranking of the top 50 most valuable U.S. retail brands. Also, the brand consultancy said that Shoppers Drug Mart was ranked as the most valuable retail brand in Canada. Walgreens and CVS were the only drug store chains on the list. Others in the top 10 of the 2011 Best Retail Brands list for the U.S. were Target, Home Depot, Best Buy, Sam's Club, Coach, Amazon.com, and Dell.

Chain Drug Review

Target Focuses on Food in Charlotte

Target announced plans to remodel several stores in the Charlotte, N.C., area. According to the company, the remodeling began March 27 and includes such features as an open-market fresh food layout, complete with a selection of fresh produce, fresh meat and baked goods. The new layout also features reinventions in several other areas throughout the store, including beauty, home, baby and shoes. The remodeled stores will offer guests approximately 40% more food offerings (on average) than a general merchandise location.

Drug Store News

Zellers Introduces In-Store Mobilicity Kiosks

Zellers Inc. and Mobilicity confirmed that they have launched Mobilicity kiosks in 10 Zellers stores across Toronto. The development represents Zellers' home electronics department's first foray into the full-service wireless business, enabling customers to choose from a wide range of affordable, popular 3G handsets, including BlackBerry and Android-based smartphones, and unlimited talk, text and data plans. 

Digital Journal

Baby Formula is Staple of Theft Rings

Theft of baby formula to be resold or used to cut illicit drugs is a burgeoning national problem. Vice president of industry relations for the Food Marketing Institute says the thefts are part of a growing problem with organized retail crime. Baby formula is a "staple" item for shoplifting rings because it is expensive and always in demand. Senators from Ohio, Pennsylvania, New York, Florida, Minnesota and West Virginia announced legislation March 8 aimed at curbing organized theft of medical items, such as prescription drugs and formula.

USA Today

Bargain-Lovers Will Ensure Future of Pound Stores

A study published says that these thriving value stores have built up loyalty amongst consumers who like a bargain, and that supermarkets will need to work hard on certain categories if they are to rebuild share. YouGov says that financial hardship is not necessarily what drives consumers to shop in pound stores either. The research found that 32% of adults had shopped at a pound store in the last three months. Cleaning products are the most popular purchases, bought by 21% of respondents, followed by toiletries, 18%, chocolate and sweets, 17%, and snacks and crisps, 13%.

Housewares Live

Booker Group Sales Up 4.4%

UK-based food wholesaler Booker Group plc said its total sales in the twelve weeks to 25 March grew by 6.4 percent from last year. Total like-for-like sales for the twelve week period also rose by 4.4 percent from prior year period. Fresh departments did particularly well with fruit and vegetables up 52 percent, the company noted. Total sales in the 52 weeks period to 25 March were 3.6 billion pounds, up by 6.2 percent from last year. While total like-for-likes were also up by 5.1 percent for the 52 week period. 

RTT News

QKL Stores Inc. Announces Fourth Quarter and Full Year 2010 Financial Results

QKL Stores Inc. announced its financial results for the quarter. Revenue in the fourth quarter of 2010 increased 17.3% to $85.8 million from $73.2 million in the fourth quarter of 2009.  Revenue performance reflected the growth of 31 comparable stores, as well as sales from the opening of 12 new stores since October 1, 2009. Net sales increased by $50.8 million, or 20.5%, to $298.4 million for fiscal 2010 from $247.6 million for fiscal 2009. New store sales increased, reflecting the opening of 16 new stores since January 1, 2009.  Nine stores opened in 2010 generating approximately $14.7 million for fiscal 2010.

PR Newswire

Madison.com