News

Cub Foods Expands Biometric Payment System

BY CSA STAFF

Stillwater, Minn., Cub Foods, a division of Supervalu, will expand its use of Pay By Touch, a biometric payment system, to four more stores within the next few months. Cub Foods has had the system in four Minneapolis-area stores for four months as part of a pilot program.

Pay By Touch uses biometric technology to allow customers to pay for items by performing a finger scan that links them to their financial accounts. For now, Cub Foods allows customers to register with checking and electronic benefit transfer accounts. The company says credit and debit card options may be added later.

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FINANCE

2Q Profit Up at Williams-Sonoma

BY CSA STAFF

Bentonville, Ark., Williams-Sonoma said quarterly profit rose nearly 12% on strong demand at its Pottery Barn and Pottery Barn Kids stores. Net revenues for the second quarter ended July 31, 2005, increased 12.6% over the second quarter of fiscal year 2004 to $776.2 million. Earnings rose to $30.8 million, or 26? a share, for the quarter, up from $27.6 million, or 23? a share, a year earlier.

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News

Saks Department Store CEO Resigns

BY CSA STAFF

Birmingham, Ala., Saks Inc. announced the resignation of George Jones, president and CEO of the retailer’s Saks Department Store Group. The resignation is effective Sept. 30.

Replacing Jones effective Sept. 15 will be Toni Browning. Browning held the post of president and CEO of Saks’ Proffit’s/McRae’s unit, which was sold to Belk last month.

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