Cost Plus Evaluates Tampering
Oakland, Calif. Cost Plus World Market reported that the electronic-funds transfer devices (more commonly known as PIN pads) at eight of its southern California-based stores may have been tampered with by unauthorized third parties.
To date, there is no evidence of any credit-card fraud associated with the incident.
Cost Plus is working closely with its financial-institution partners and law-enforcement officials to ensure that any customers impacted by this incident are identified. The company is also working with its merchant bank and the payment-card issuers to ensure that any affected cards are blocked and reissued.
To augment the chainwide changes in its point-of-sale procedures earlier, Cost Plus began replacing the PIN pad devices throughout all of its stores nationwide and expects to complete the transition by the end of August. The chain also has engaged Verizon Business/Cybertrust, a national data-security firm, to review its overall data-security program.
Zahari named president and ceo of Lalique North America
NEW YORK According to reports, Maz Zouhari has been named president and ceo of Lalique North America.
Zouhairi was previously serving as vp of sales and marketing. He succeeds Guillaume Gauthereau.
Supervalu reports 9% net earnings increase
MINNEAPOLIS Supervalu reported sales and earnings for the first quarter of fiscal 2009. The company reported first quarter net sales of $13.3 billion compared to $13.3 billion last year, net earnings of $162 million, an increase of 9% compared to $148 million last year, and diluted earnings per share of 76 cents, an increase of 10% compared to 69 cents last year.
Jeff Noddle, Supervalu chairman and ceo said, “While we are pleased with our record results and the continued progress of the Albertsons integration, the ongoing weakness in the economy combined with higher food and energy inflation has created conditions that make us take a more cautious view for the balance of the fiscal year. In light of the macroeconomic environment, we have updated our guidance and are responding with tighter expense controls and other cost-savings activities. We remain confident that we are doing the right things for the long-term health of our business and are effectively managing those factors under our control in order to create a foundation for sales momentum and future growth.”
The company said it expects earnings per diluted share for fiscal 2009 to be in the range of $3 to $3.16 per diluted share. Identical-stores sales growth, excluding fuel, is now projected to be approximately 0.5% compared to previous guidance of 1% to 2%.