McQuade’s Marketplace goes solar in Connecticut
Mystic, Conn. Independent grocer McQuade’s Marketplace has installed a solar electric system in its Mystic, Conn., store. It is the largest solar system at a grocery store in the state of Connecticut, according to The Day, a New London, Conn.-based newspaper.
The 151-kilowatt STC solar photovoltaic system is expected to generate approximately 168,200-kilowatt hours of clean energy a year, the report said.
The system output will also prevent the release of more than 8.7 million lbs. of carbon-dioxide emissions over the expected 30-year life of the system.
The system was made possible in part by a $641,253 grant from the Connecticut Clean Energy Fund, the report said.
McQuade’s also has locations in Westerly and Jamestown, R.I.
Tuesday Morning 1Q comps suffer, expects loss
DALLAS Tuesday Morning reported net sales for the first quarter 2009 were $165.9 million compared with $173.4 million for the quarter ended Sept.30, 2008, a decrease of 4.3%. Comparable-store sales for the quarter decreased by 5.8%, comprised of a 1.7% decrease in traffic and a 4.1% decrease in average ticket.
Based on the first quarter sales results, the Company currently expects the loss per share for the first quarter to be in the range of 11 cents to 13 cents. The loss per share was 10 cents for the quarter ended Sept. 30, 2008.
“Credit and housing woes continued to impact the discretionary spending behavior of our customers,” said Kathleen Mason, president and CEO. “The quarter started slowly during the ‘cash for clunkers’ program, but picked up in September. Our trend in comparable store sales and customer traffic continued to improve. We successfully managed inventory and kept expenses in line with revenues. Our balance sheet improved with low usage and high availability on our line of credit.”
There is hope for home
The home category continues to face its share of challenges on the demand side, something Target knows all too well. However, there is business to be had and profits to be made, as category leader Bed Bath & Beyond proved last week. The company beat analysts’ earnings estimates by four cents a share, when it reported a second quarter profit of 52 cents a share on sales that increased a modest 3.3% to slightly more than $1.9 billion. Same-store sales declined 0.6%. Bed Bath & Beyond is a beneficiary of the recession, as it saw its major direct competitor, Linens ‘N Things, eliminated.