Nash Finch to write-down value of stores
Minneapolis Nash Finch Co. will likely report a non-cash goodwill impairment charge of about $69.9 million for its 2009 fiscal year, according to the Business Journal of Milwaukee.
The charge is related to the company’s retail business, which includes nine stores in Wisconsin. Nash Finch is appraising the value of that business and now expects a “significant portion of its retail goodwill will likely be written off.”
Nash Finch primarily distributes food to grocers. However, it also owns several supermarket chains, including Sun Mart, Econofoods and Family Fresh Market.
Family Fresh Market operates stores in Hudson and New Richmond, while Econofoods has seven stores in across north-central Wisconsin.
Kohl’s donates $250K for Haitian relief
MENOMONEE FALLS, Wis. Kohl’s announced that it has doanted $250,000 toward earthquake relief efforts in Haiti. Kohl’s is providing this donation to the American Red Cross, which is delivering much-needed emergency supplies and services in the earthquake-impacted areas through its Haiti Earthquake Relief Fund.
“As a family-focused department store, our hearts go out to the tens of thousands of families impacted by the catastrophic damage caused by this week’s earthquake,” said Julie Gardner, Kohl’s EVP and chief marketing officer. “The loss is great, the need is immense, and Kohl’s is proud to be in a position to help during this tragedy.”
Kmart to provide coats for Detroit kids
DETROIT Kmart announced that it is partnering with WADL-TV38 to provide free coats to Detroit school children on Martin Luther King, Jr. Day on Jan. 18.
“The economy and the extreme pressure on auxiliary services and organizations that help the community are tremendous. We consider ourselves fortunate that someone from our community would be so generous for the benefit of Detroit’s school children,” states Denise Dody Johnson marketing and public relations director.