Food Lion scales back growth of Bloom banner
Salisbury, N.C. Food Lion said Thursday that four stores under development in the Raleigh, N.C., market will open under the Food Lion brand and not its more stylish and up-market banner Bloom, according to a report by Supermarket News.
“At this time, we are focusing our efforts on the Bloom banner in its existing markets to further increase our density,” said Christy Phillips-Brown, spokeswoman for Food Lion. “As a result, we will not expand the Bloom banner into the Raleigh market at this time. Food Lion has a strong market presence in the Raleigh area and we are confident that our Food Lion banner will meet the needs of our customers in this market.”
Bloom’s expansion to the Raleigh market — where the four developing stores are scheduled to open over the next two years — was in the works for more than a year. However, Phillips-Brown told Supermarket News that the grocer “remains strongly interested in expanding into the Raleigh market and will evaluate new market opportunities in the future.”
Bloom has opened two new stores this year in the Charlotte, N.C., and Washington, D.C., markets, and will evaluate new locations in existing markets this year, Phillips-Brown said.
Home Depot moves Black Friday to spring
ATLANTA The Home Depot announced that it will offer “Black Friday” deals this spring.
The company announced that in March and April, prices on hundreds of the most sought after spring products will be significantly reduced including: a variety of live goods and lawn care; outdoor power; eco-friendly gardening products; and patio and grills.
“Spring is our Christmas,” said Craig Menear, EVP merchandising. “Traffic in our stores is at its highest during the spring season as customers look to take on outdoor projects to improve the appearance of their homes and we want to give them the best deals possible to meet all of their outdoor needs.”
According to Home Depot, the date of its Spring Black Friday event will vary by market based on climate by geography. The first are set to begin on March 18.
Stein Mart makes a profit, but sales down
JACKSONVILLE, Fla. For the fourth quarter of 2009, Stein Mart reported net earnings of $2.7 million or 6 cents per diluted share compared with a net loss of $56.2 million or $1.35 per diluted share for the fourth quarter of 2008.
The company reported net income of $23.6 million or 54 cents per diluted share for its fiscal 2009 period compared with a net loss of 71.3 million or $1.72 per diluted share last year.
Sales for the fourth quarter of 2009 decreased 6.1% to $341.8 million from $363.9 million in 2008. Comparable-store sales decreased 3.8% from the fourth quarter of 2008 to the fourth quarter of 2009. For the 52 weeks ended January 30, sales decreased 8.1% to $1.2 billion from $1.3 billion for the same 52 weeks ended last year. Comparable-store sales declined 5.6% from 2008 to 2009.
“We are proud to have reversed two years of losses and earned a significant profit in one of the most demanding years in our company’s history,” said David Stovall, Jr., president and CEO of Stein Mart. “Rigorous focus on inventory levels and freshness, dedication to expense reduction and emphasis on cash generation all contributed to our profitability this year. Our 13,000 associates were instrumental in the gains we made in 2009 and I want to thank them for their devotion and efforts.”