North American News
Sales Increase Lifts Profit at Bed Bath and Beyond
The home furnishings retailer Bed Bath & Beyond's first-quarter profit beat Wall Street's expectations as consumers continued to splurge on their homes. For the quarter ended May 29, the company reported a profit of $137.6 million, or 52 cents a share, compared with $87.2 million, or 34 cents a share, last year.
Food World brand returns
Two Southern Family Market stores in Florence, Alabama and the former Piggly Wiggly in Muscle Shoals have been renamed Food World. Emphasis is being placed on fresh produce and pricing as part of the rebranding, according to company officials.
Rite Aid Reports First Quarter 2011 Results
The company reported revenues of $6.4 billion, a net loss of $73.7 million or $0.09 per diluted share and adjusted EBITDA of $249.8 million or 3.9 percent of revenues. In the first quarter, the company opened 2 new stores, relocated 8 stores, remodeled 1 store and closed 15 stores.
Artists grow foods in abandoned shopping carts
A group of urban artists is growing fruits and vegetables in shopping carts that have been abandoned among concrete buildings and busy streets.
South American News
Maquina de Vendas Buys Electrical-Appliance Chain
Maquina de Vendas SA, Brazil's second-biggest retailer created by a merger this year, agreed to buy electrical-appliances chain City Lar, increasing the number of its stores to 750.
European News
Mercator Abandons Plans to Buy Local Rival Merkur
Slovenia's largest food retailer Mercator said on Wednesday its plans to buy local rival Merkur had been scuppered by the latter's creditors.
Rewe Acquires Total Control Of Billa Unit
The Rewe Group now has a 100% stake in Billa Russia, after acquiring the 25% it did not already own from bankrupt holding Marta. Rewe and Marta operated Billa Russia through a joint venture, but the deal now gives the German group independent control of the chain.
Kopeika posts FY 2009 net profit of 1.628 billion Roubles
Discount retailer, Kopeika, has posted a FY 2009 net profit of 1.628 billion Roubles under IFRS. Kopeika opened up 70 new stores up to 587 in 2009 with floor space increasing by 17%.
U.K. and Ireland News
Wilkinson doubles operating profits
Family-owned retailer Wilkinson has said it doubled its operating profits last year after opening 17 new stores and refurbishing existing outlets.
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