Kroger to spend $15 million on store renovations
Cincinnati — A Monday report by the Cincinnati Business Courier said that Kroger Co. is planning to spend about $15 million to renovate four stores in the Cincinnati area in 2011.
The grocery retailer said it plans to renovate stores in Westwood, Madeira and Montgomery, Ohio, as well as a store in Cold Spring, Ky.
The Westwood and Montgomery locations are scheduled for renovation in the first half of 2011, while Kroger is still finalizing the renovation plans for the Madeira and Cold Spring stores.
Kroger spokesperson Rachel Betzler said plans are still being finalized for the store renovations, which will be limited to interior upgrades and will not include expansions, she said.
Reece-Campbell will perform the renovation work on the Westwood and Montgomery locations, according to the report.
In addition to the four planned renovations, Kroger is working to start demolition of its Corryville, Ohio, store to make way for a new store. Betzler said Kroger is working on a contract with Covington, Ohio-based Anchor Properties, which owns University Plaza, to start redevelopment.
Delhaize stake lifted by AllianceBernstein past 5%
Brussels, Belgium — Delhaize Group announced on Monday that AllianceBernstein LP lifted its voting stake in the food retailer to 5.04%.
The New York asset manager, a member of France’s AXA group, now holds 5.11 million Delhaize shares, compared with 3.73 million as of Oct. 5, Delhaize reported.
Hastings Entertainment narrows loss in Q3
Amarillo, Texas — Multimedia entertainment retailer Hastings Entertainment reported Monday that it recorded a loss of $3.1 million for the quarter ended Oct. 31, compared with a loss of $3.4 million in the year-ago period.
Total revenues for the third quarter were flat at $112.3 million.
Total same-store revenues increased 1.3% for the quarter. Merchandise same-store revenues increased 1.2% for the quarter and rental same-store revenues increased 2.2% for the quarter.
Hastings Entertainment, which combines the sale of new and used books, videos, video games, CDs and electronics with the rental of videos and video games, currently operates 146 superstores, as well as a new concept store, Sun Adventure Sports, in Amarillo, Texas.