Albertsons to Exit Jacksonville Market
Boise, Idaho, Albertsons has agreed to sell all seven of its stores in the Jacksonville, Fla., market to independent operator Rob Rowe, who is a former executive of Winn-Dixie, published reports say. The deal, for which no purchase price was disclosed, is expected to close by mid-July, the grocer said. Albertsons said the stores are located in Jacksonville, St. Augustine and Orange Park. Buyer Rowe previously managed Winn-Dixie’s SaveRite Grocery Warehouse division before leaving the company in 2003.
“This is a strategic decision in line with our company’s commitment to invest resources only in markets where we can perform as a market leader and earn an acceptable return,” Carl Jablonski, president of Albertsons’ Eastern division, said in a statement.
Price Chopper Opens New Prototype Store
Schenectady, N.Y., Price Chopper Supermarkets has opened a 37,000-sq.-ft. “Super Center” in Richfield Springs, N.Y. The 24-hour store, which aims to cater to rural areas and small communities, is a new prototype for the regional grocer. The new store offers value-priced groceries, general merchandise, and a large selection of fresh produce and meats.
Wednesday a.m. Earnings Review
Jacksonville, Fla., • Winn-Dixie Stores Inc. posted a $13 million loss for its third quarter ended April 6. Net sales for the quarter were $2.28 billion, compared to $2.4 billion in the year-ago period. The regional retailer filed for Chapter 11 reorganization on Feb. 21.
• Talbots, Inc. reported higher first-quarter profits of $34.5 million, or 63? a share, compared with $33.5 million, or 58? a share, in the same period a year earlier. For the quarter ended April 30, net sales rose 8% to $378.1 million, and comp-store sales increased 4.3%.
• Off-price retailer Ross Stores Inc. said its earnings for the first quarter ended April 30 increased to $50.1 million, or 34? per share, from $48.1 million, or 31 cents per share, a year earlier. Sales for the quarter rose to $1.12 billion from $991.9 million in the year-ago period. Comps rose 3% for the quarter for the Pleasanton, Calif.-based retailer.
• Brookstone’s first-quarter loss widened to $6.8 million, or 33? a share, from $4.6 million, or 23? a share, a year earlier. Sales increased 4% to $80.3 million, compared to $77.5 million a year ago, while comps dropped 3.9%. The specialty retailer has previously agreed to sell itself to a group that includes Singapore’s Temasek Holdings Ltd.
• Borders Group swung to a first-quarter loss of $5.3 million, or 7? a share, compared to restated profit of $2.3 million, or 3? a share, last year. Revenues totaled $853 million, vs. restated revenue of $838.1 million in the year-ago period.