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Contactless Payment Moves Ahead

BY CSA STAFF

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.

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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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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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