SUPPLY CHAIN

Report: Grocery wholesaler considering acquiring Supervalu distribution business

BY Katherine Boccaccio

Minneapolis — A Monday report in the Wall Street Journal said that grocery supplier C&S Wholesale Grocers is said to be interested in buying the distribution business of Supervalu Inc.

On July 11, Supervalu – which owns such grocery banners as Albertson’s, Jewel-Osco and Save-A-Lot – revealed it would explore a sale of all or part of the company. It said it had hired Goldman Sachs and Greenhill & Co. to launch a review of strategic options, including asset sales.

According to the WSJ report, Supervalu’s distribution business could be an attractive purchase. For the quarter ended June 16, the distribution arm posted revenue of $2.48 billion, or more than 23% of overall sales.

On Monday, WSJ also reported that Supervalu is expected to begin sending out financial information to potential suitors, including private equity firms Kohlberg Kravis Roberts and TPG Capital, as well as other supermarket companies.

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Apr-10-2013 07:37 pm

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Apr-10-2013 07:37 pm

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New Kmart card offers alternative to traditional banking

BY CSA STAFF

HOFFMAN ESTATES, Ill. — Kmart became one of the first retailers to offer a reloadable prepaid card requiring no initial charge to load funds with the launch of its new Halogen Reloadable Prepaid MasterCard offered by Green Dot. In addition to the no charge for loading funds, the card offers free ATM withdrawals from network ATMs, and is available with no bank account, credit check or minimum balance required.

Customers load initial funds onto their Halogen Card for no fee at Kmart, and then come back to Kmart to reload again and again. Additionally, cardholders can also sign up to direct deposit their wages, tax refunds or government benefits payments at no charge.

"Kmart’s Halogen Reloadable Prepaid MasterCard is a great money management solution for customers seeking an alternative to cash, credit or checking accounts," said Jai Holtz, VP financial services for Sears Holdings. "With the introduction of the Halogen Card, we’re giving our customers a smart, convenient and safe way to manage their money and gain control over their personal finances."

Kmart’s Reloadable Prepaid MasterCard was developed with Green Dot Corp., MasterCard and Synovus Bank. Green Dot and Halogen Cards are issued either by Synovus Bank or Green Dot Bank. MasterCard is a registered trademark of MasterCard International Inc.

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Income up, sales flat at Mattel

BY CSA STAFF

EL SEGUNDO, Calif. — For the second quarter, Mattel reported net income of $96.2 million, or 28 cents per share, compared with last year’s second quarter net income of $80.5 million, or 23 cents per share.

“In the second quarter, we delivered solid performance as we continued to build momentum with key brands, such as Barbie, Monster High, American Girl and Hot Wheels, as well as the Batman – The Dark Night Rises property, despite a continued cautious global retail environment and a strengthening U.S. dollar,” said Bryan Stockton, Mattel CEO “As we look forward, we remain focused on executing our portfolio of strong brands, countries and customers to deliver in the all-important holiday season.”

For the quarter, net sales were $1.16 billion, flat compared with last year, including an unfavorable change in currency exchange rates of 4 percentage points. On a regional basis, second quarter gross sales increased 1% in the North American region, which consists of the United States, Canada and American Girl, with no impact from changes in currency exchange rates. For the International region, gross sales decreased 1%, including an unfavorable impact of currency exchange rates of 10 percentage points. Operating income for the quarter was $131.4 million, compared with prior year’s operating income for the quarter of $109.3 million.

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