REAL ESTATE

Sam’s Club opens store in Oklahoma

BY Dan Berthiaume

Bentonville, Ark. – Sam’s Club is opening a new store in Edmond, Okla., on Oct. 3. The new Sam’s Club features a shopper-friendly interior layout and measures approximately 136,000 sq. ft., and has created about 130 new jobs.

Daylight-harvesting skylights reduce the amount of energy required to light the store by up to 75% daily. LED lighting throughout the club, including in the cooler and freezer box doors and jewelry counter, operates 70% more efficiently than traditional fluorescent lighting. There will also be a full-service pharmacy and a hearing aid center.

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FINANCE

Expenses, profits bite Village Super Markets net income

BY Dan Berthiaume

Springfield, N.J. – Village Super Market reported net income of $6.2 million during fourth quarter 2013 and $25.8 million during the full fiscal year. These figures were respectively down 31% from $9 million and 18% from $31.4 million year-over-year.

The retailer cited the negative impact of higher expenses and lower gross profits as contributing to its drop in net income.

Sales were $376.3 million in the fourth quarter of fiscal 2013, an increase of 1.7% from $369.5 million the fourth quarter of the prior year. Same-store sales also increased 1.7%. Full-year sales totaled $1.48 billion, up 4% from $1.42 billion. Economic weakness, high gas prices and high unemployment have resulted in increased item penetration and customers trading down. Same-store sales grew 1.7% in the fourth quarter and the company expects same-store sales in fiscal 2014 to increase from 1.5% to 3.5%.

Village Super Market operates a chain of 29 supermarkets under the ShopRite name in New Jersey, Maryland and Eastern Pennsylvania.

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SUPPLY CHAIN

Tile Shop appoints Best Buy exec as COO

BY Dan Berthiaume

Rochester, Minn. – Tile Shop Holdings has appointed Chris Homeister to the newly created position of COO, effective immediately. In this role, Homeister will oversee supply chain, retail operations and merchandising.

Homeister previously served as the GM and senior VP of Best Buy’s Entertainment Business Group, where he led all elements of this multi-billion dollar business across retail and online channels.

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