News

Braintree honored for payment innovation

BY CSA STAFF

BOSTON — Braintree has been named as a finalist for a 2013 Innovator Award in the category of Most Disruptive by PYMNTS.com.

One of five finalists in the their category, Braintree is being recognized as a leader in the payments industry. The winners being announced during a live ceremony hosted by The Office’s B.J. Novak on March 21 from The Innovation Project, a two-day program that will challenge the way that the payments and broader commerce ecosystem thinks, develops, and ignites innovation. Braintree is being recognized for Venmo Touch, a solution that allows consumers to check out with one touch across multiple mobile applications.

“We’re honored to be a finalist for Most Disruptive payments company after winning Best Technology last year. We believe that consumers and merchants have fundamentally different payment needs when operating in a mobile context. We’re thrilled that our customers and industry experts like PYMNTS are finding value in Venmo Touch and the mobile payment tools that Braintree has created to solve these problems," Bill Ready, CEO

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News

Publix posts same-store sales increase of 2.2% for fiscal 2012

BY CSA STAFF

LAKELAND, Fla. — Publix on Friday recorded fiscal 2012 sales of $27.5 billion, up 1.9%. However, 2012 year-end sales included a 52-week period, versus 2011 year-end sales that were tracked over a 53-week period. Excluding that extra week, sales for 2012 would have been up by 3.8%. Same-store sales were up 2.2% for the year.

“I’m pleased with the improvement in our operating results for 2012, a 52-week year, as compared with 2011, a 53-week year,” stated Publix CEO Ed Crenshaw. “As a result of our associates’ efforts, our stock price reached a new all-time high after considering stock splits.”

Net earnings for 2012, a 52-week year, were $1.6 billion, a 4% increase. Earnings per share increased to $1.98 for 2012, up from $1.90 per share in 2011.

Publix’s sales for the fourth quarter of 2012, a 13-week period, were $7 billion, a 3.6% decrease from last year’s $7.2 billion, a 14-week period. Excluding the additional week in the fourth quarter of 2011, sales for the fourth quarter of 2012 would have increased by 3.4%. Comparable store sales for the fourth quarter of 2012 increased 1.2%.

Effective March 1, 2013, Publix’s stock price increased $0.70 from $22.50 per share to $23.20 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.

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FINANCE

Report: Publix considering making offer for Harris Teeter

BY Marianne Wilson

New York — Publix Super Markets is interested in Harris Teeter Supermarkets, Bloomberg reported.

Royal Ahold, the Netherlands-based company that operates Stop & Shop, is also looking to making a bid for the North Carolina-based chain, according to various media reports.

Harris Teeter released a statement on Feb. 13 in which it said it hired JPMorgan to assist in holding talks with suitors after being approached by two buyout firms.

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