Aldi buys site for Southern California headquarters/DC
New York — Discount supermarket operator Aldi has acquired a 55-acre site in Moreno Valley, Calif., on which it will build its Southern California regional headquarters. The planned 800,000-sq.-ft. facility would serve as Aldi’s West Coast regional office and distribution center as it looks to expand into the Southern California market.
In December, Aldi announced plans to open 650 stores in the United States during the next five years.
“We are eager to bring the Aldi difference to new markets like Southern California,” president Jason Hart said in a December statement. “We’re ramping up our expansion plans to meet growing demand.”
To date, Aldi has concentrated its expansion in the Midwest and on the East Coast.
Legal costs impact Jos. A. Bank Q4 earnings; sales inch up
Hampstead, Md. – Jos. A. Bank Clothiers posted a profit of $27.4 million for the fourth quarter, down from $28.4 million in the year-ago period. The retailer’s earnings were impacted by legal and professional costs related to its upcoming acquisition by The Men’s Wearhouse and other strategic moves.
Sales rose 0.4% to $356 million, in line with analysts estimates. The year-ago period included 14 weeks of sales, compared with 13 weeks in the most recent quarter. Jos. A. Bank cited robust holiday sales, partially offset by post-holiday severe weather, as boosting overall quarterly sales performance.
During the full fiscal year, net income fell 26% to $63.32 million, from $79.69 million. Net sales slightly fell to $1.03 billion from $1.04 billion. So far in fiscal 2014, Jos. A. Bank has generated double-digit total sales gains, which the retailer says reflects positive consumer response to promotions as well as ongoing strength in the non-promotional portion of its business.
“The initiatives we have undertaken to improve both our top and bottom line performance are delivering results,” said R. Neal Black, president and CEO of Jos. A. Bank.
Black said the current quarter has gotten off to a strong start.
"We have generated double-digit total sales gains in fiscal February and the first four weeks of fiscal March 2014, reflecting positive consumer response to our promotions as well as ongoing strength in the non-promotional portion of our business," he said.
Survey: Consumers wary of spending
New York – While attitudes haven’t changed overwhelmingly since December 2013, some shifts in plans for the next six months may indicate that Americans are questioning their financial prospects during the next few months, according to a new Harris Poll. The survey of 2,234 U.S. adults shows that Americans are more likely than in December to say that they plan on decreasing their spending on eating out at restaurants (59%, up four points) within the next six months.
Consumers are also less likely to say they will save or invest more money within the next six months (52%, down six points), that they will have more money to spend the way they want (34%, down four points) and that they will buy a new computer (23%, down four points) when compared to December 2013.
Looking back at activities done during the past six months to save money, numbers haven’t changed much from December findings. Six-in-10 Americans (59%, up one point) say they have been purchasing more generic brands, just more than four-in-10 (42%, holding steady from December results) say they’ve been brown bagging lunch instead of purchasing it and just more than a third say they’ve switched to a refillable water bottle instead of purchasing bottles of water (34%, up one point).