FINANCE

Report: Delhaize looks to sell off Sweetbay and Harveys units

BY Katherine Boccaccio

New York — A Reuters report citing unnamed sources said that Belgian grocer Delhaize is looking to sell its U.S.-based Sweetbay and Harveys units as the Food Lion parent looks to ramp up cost-cutting efforts here.

The sources told Reuters that Delhaize has retained Lazard Ltd. to sell off the two supermarket businesses. CEO Pierre-Olivier Beckers said the company was looking at options for the units, but didn’t comment directly on whether advisors had been appointed to conduct the sale.

"This is a question on the table at the moment," he told Reuters.

Harveys operates 73 supermarkets in Georgia, South Carolina and Florida, and Sweetbay has 105 stores in Florida.

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FINANCE

Buckle profit dips in Q1 on higher expenses

BY Katherine Boccaccio

Kearney, Neb. — The Buckle reported Thursday that net income for the quarter ended May 4 fell slightly to $37.6 million, compared with $37.8 million in the year-ago period. Results were impacted by higher operating expenses.

Revenue increased 2.3% to $269.7 million from $263.8 million, and same-store sales edged up 1.2%.

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Stein Mart reports higher profit in first quarter

BY Katherine Boccaccio

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Jacksonville, Fla. — Stein Mart reported Thursday that net income for the first quarter rose to $14.7 million from $10.8 million.

Total sales increased 3.8% to $321.4 million, while same-store sales rose 1.2%.

The retailer said it expects to open four new stores, relocate two stores and close two stores during the second half of the year.

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M.Jhonson says:
May-28-2013 12:22 pm

Nice post
Ohh wow. Great post and amazing facts. Completely unaware of it. Thanks for sharing. Nanny Agency

M.Jhonson says:
May-28-2013 12:22 pm

Ohh wow. Great post and amazing facts. Completely unaware of it. Thanks for sharing. Nanny Agency

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