FINANCE

Nash Finch to buy Nebraska grocery chain Bag ‘N Save

BY Staff Writer

Omaha, Neb. — Nash Finch Co. announced Monday that it will acquire Omaha, Neb., supermarket chain Bag ‘N Save, which will grow its retail grocery store portfolio by about 25%.

Primarily a food wholesaler, Nash Finch will absorb 11 stores in Omaha and one on York, Neb., through the acquisition. Terms have not been disclosed.

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OPERATIONS

Modell’s Sporting Goods to open three new stores, adds staff

BY Staff Writer

New York City — Modell’s Sporting Goods said Tuesday it will celebrate the grand opening of three new locations in Brooklyn, N.Y., Fresh Meadows, N.Y., and Wayne, N.J., on March 8.

The Fresh Meadows store measures 13,000 sq. ft., the Wayne store is 16,700 sq. ft., and the Brooklyn store is 15,900 sq. ft.

In other company news, Modell’s has added two buyers to its corporate staff. Jennifer (Smith) Anderson joins Modell’s as the Women’s Athletic Buyer, having spent the past eight years as a buyer for Academy Sports + Outdoors. Jeff Shaffer will also join the team as Men’s Athletic Buyer.

Modell’s operates 150 stores in the northeast.

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FINANCE

Stage Stores Q4 profit edges up 2%

BY Staff Writer

Houston — Stage Stores Inc. reported Tuesday that profit for the fourth quarter rose 2% to $32.7 million, from $32 million a year earlier.

Revenue increased 6% to $479.1 million from $453.7 million, beating Wall Street’s $468.2 million forecast.

For the year, Stage Stores reported net income of $31 million, down from $37.6 million in the prior year. Annual revenue climbed 3% to $1.51 billion.

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