OPERATIONS

Pier 1 Imports, Alliance Data sign long-term private-label credit card deal

BY Staff Writer

Fort Worth, Texas — Pier 1 Imports said Thursday it has, through a subsidiary, signed a new, long-term private-label credit card agreement with Alliance Data.

Under terms of the new agreement, Alliance Data, through its bank subsidiary, will provide end-to-end private-label credit card services from account acquisition to multichannel marketing and customer service for Pier 1 Imports.

Pier 1 Imports’ current private-label credit card program will remain in place until portfolio conversion occurs, which is anticipated in the first quarter of 2012. Alliance Data expects the program portfolio to be in the $120 million range by the end of 2012.

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REAL ESTATE

Publix opens expanded store at Sarasota Village

BY Staff Writer

Sarasota, Fla. — Publix will open a new 45,600-sq.-ft. store at Sarasota Village.

According to Brixmor Property Group, which owns the community shopping center, Publix is expanding from a 36,960-sq.-ft. store, open since 1972, and has redesigned and expanded in conjunction with the redevelopment of the center.

The opening of the new Publix store marks the completion of the redevelopment at Sarasota Village, which included improvements to the building façade for the retailers surrounding Publix, along with new landscaping, lighting, and an improved parking field.

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FINANCE

Village Super Market Q4 adjusted profit rises

BY Staff Writer

Springfield, N.J. — Village Super Market, which operates 28 supermarkets under the Shop Rite name in the Northeast, reported Thursday that net income for the fourth quarter was $8.8 million, an increase of 14% after backing out the extra week in last year’s fourth quarter.

Without the adjustment, net income fell from $8.9 million a year earlier.

Revenue rose nearly 1% to $345 million from $342.7 million. After excluding the extra week, revenue increased nearly 8%. Same-store sales rose nearly 8% excluding the extra week.

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