Report: Consumer confidence weak
Washington, D.C. — A Thursday report by Bloomberg said that consumer confidence last week capped the worst quarterly performance in more than two years, when the U.S. economy was still in a recession.
The Bloomberg Consumer Comfort Index rose to minus 50.2 in the week ended Oct. 2, from the prior period’s minus 53 that was the second-lowest level on record. The gauge averaged minus 48.4 from July through September, the third-worst quarterly reading of all time and the weakest since minus 49.9 in the first three months of 2009.
According to the report, 92% of those surveyed had a negative opinion of the economy.
Publix opens expanded store at Sarasota Village
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.
Village Super Market Q4 adjusted profit rises
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.