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Delhaize Group Announces CFO’s Departure

BY CSA STAFF

Brussels, Belgium Delhaize Group announced that Craig Owens, executive VP and CFO of Delhaize Group, is leaving the company after seven years, effective Sep. 30.

Owens has accepted an offer to become the CFO and chief administrative officer of Campbell Soup Co.

Delhaize Group has already begun the process to appoint a successor.

Craig Owens has been executive VP and CFO of Delhaize Group since 2001. He is also a member of the group’s executive committee.

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Zale reports 2Q loss

BY CSA STAFF

DALLAS Zale Corp. reported a net loss from continuing operations for the fourth quarter of fiscal 2008 of $4.9 million, or 15 cents per share, compared to net earnings from continuing operations of $0.7 million, or 1 cent per diluted share, for the fourth quarter of fiscal 2007.

Revenues for the fourth quarter ended July 31 were $456 million compared to $430 million last year, an increase of 6.1%. Comparable store sales for the fourth quarter increased 6.1%.

For the full year ended July 31, 2009, the company expects diluted EPS in the range of $1.10 to $1.25. Comparable-store sales are expected to be in the range of negative 1% to flat.

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DSW posts 2Q sales, income growth

BY CSA STAFF

COLUMBUS, Ohio DSW announced net income of $11 million on net sales of $357.2 million for the second quarter ended Aug. 2, compared with net income of $6.5 million on net sales of $348.7 million for the second quarter ended Aug. 4, 2007. Same-store sales decreased 6.9% for the comparable period versus an increase of 5.9% last year.

Diluted earnings per share were 25 cents for the second quarter this year compared with 15 cents last year. The company said the year-over-year increase in second quarter earnings was attributed to merchandise margin rate.

For the fiscal year ending Jan. 31, 2009, the company reiterates its estimated annual same-store sales in the negative mid-single digits and annual earnings per diluted share in the range of 75 cents to 85 cents.

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