News

Albertsons to Exit Jacksonville Market

BY CSA STAFF

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.

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News

Price Chopper Opens New Prototype Store

BY CSA STAFF

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.

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FINANCE

Wednesday a.m. Earnings Review

BY CSA STAFF

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.

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