FINANCE

Publix to Acquire 49 Albertsons stores

BY CSA STAFF

Lakeland, Fla. Publix Super Markets said Monday it has agreed to buy 49 Albertsons stores in Florida from Albertsons LLC. Terms of the transaction, which is expected to close in September, were not disclosed.

The purchase includes 15 stores in northern Florida, 30 locations in central Florida and four locations in southern Florida. Grand opening dates for all locations will depend on the scope of the remodels, Publix said.

“The demand for the high-quality service our associate owners provide gives us the opportunity to reinvest in these communities by acquiring additional sites for Publix stores,” said Ed Crenshaw, CEO, Publix, in a prepared statement.

Albertsons LLC said it would continue to operate a limited number of Florida stores, its distribution center in Plant City and division office in Lake Mary.

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Ceo: Wal-Mart needed more in tough economy

BY CSA STAFF

BENTONVILLE, Ark. Speaking at Wal-Mart’s annual shareholders meeting, president and ceo Lee Scott said that Wal-Mart would become increasingly more important to its consumers as economic conditions make it tougher to make ends meet.

Citing rising gas prices, food inflation and higher health care costs, Scott said that the challenge to provide for one’s family has become increasingly more difficult.

“During difficult times in the past, Wal-Mart has been there for our customers and our members, said Scott. “But I think we are there for them now more than ever before.”

Scott highlighted examples of how the company was helping people save money, including its CFL light bulbs, which he said will save consumers nearly $6 billion over the life of the product, and its $4 prescription program, saving customers more than $1.1 billion.

With the presidential election looming, some may have expected Scott to give his insight into which candidate would be best, however, the ceo said that Wal-Mart was ready to work with whoever becomes the new President and the next Congress.

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Ahold reports U.S. sales growth

BY CSA STAFF

AMSTERDAM Ahold reported that first quarter sales at Stop & Shop/Giant-Landover were $5.1 billion, up 1.3% compared with the same period last year. Identical sales were up 1.2% at Stop & Shop (0.2% excluding gasoline net sales) and down 1.5% at Giant-Landover (1.6% excluding gasoline net sales), impacted by lower pharmacy sales.

For the first quarter, net sales at Giant-Carlisle were up 9.2% to $1.4 billion compared with the same period last year. Identical sales were up 5.7% (3.7% excluding gasoline net sales).

Ahold ceo John Rishton said, “In the United States, the roll-out of our Value Improvement Program at Stop & Shop/Giant-Landover remains on track. The price investments related to the roll-out continue to impact margins and sales, with improvements expected later in the year. Giant-Carlisle reported solid sales and margin growth and continues to gain share in a very competitive market. We continue to respond to the turbulent economic environment and its impact on consumer and competitor behavior. We are confident that the actions we are taking to bring value to our customers are the right ones.

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