Sam’s Club launches delivery service
Bentonville, Ark. — Sam’s Club has launched a new service that offers delivery, installation, assembly or set-up of a number of items such as mattresses, televisions, computers, barbecue grills and more. The chain said it is offering the service for items purchased at more than 600 stores nationwide.
The service is provided by a third-party vendor that will work on both home and business installation. Delivery prices start at $59 and installation is provided at an additional cost.
Sam’s Club said the services will make it simple for members to purchase large items for the holidays.
Big Lots cuts outlook as profit falls
Columbus, Ohio — Big Lots on Friday posted a lower-than expected quarterly profit, and the company cut its outlook for the crucial holiday quarter, in the face of strong competition and aggressive promotions from rivals.
The chain said profit for the quarter ended Oct. 30 fell 42% to $17.7 million, from $30.3 million a year earlier, when the company’s earnings included a 10-cents-a-share benefit from real estate transactions. Net sales in the latest quarter rose 2% to $1.06 billion as same-store sales rose 0.7%.
"Investments made to open new stores, refresh existing stores, and prepare our business for the all-important holiday season along with softer third-quarter sales results caused our expenses to grow at a faster rate than sales," the company said in a statement.
Walgreen up, Rite Aid down in November
New York City — Walgreens on Friday reported that its same-store sales rose 3.2% in November. The drugstore operator’s total sales rose 8.6% to $5.83 billion. (Duane Reade stores, acquired in April 2010, contributed 2.8% points to the total sales increase for the month. But those stores are not included in the same-store sales report.)
Meanwhile, Rite Aid Corp. reported that its November same-store sales fell 1.3% due to the introduction of new generic drugs and a decline in prescriptions resulting partly from a milder flu season.
Total November revenue fell 2.3% to $2.37 billion.