Contactless Payment Moves Ahead
New York City, The contactless-payment movement took several steps forward today.
Altoona, Pa.-based Sheetz went live in all 309 of its convenience stores with technology allowing for contactless payment. Sheetz was a pioneer in accepting MasterCard PayPass. The retailer also said it is rolling out the Sheetz MasterCard from Chase, which combines magnetic-stripe functionality, and a chip that communicates with the card readers by tapping it or waving it across the reader.
Dallas-based 7-Eleven said it will begin accepting Visa Contactless payments and install contactless card readers at all of its 5,300 U.S. stores.
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.