Supervalu swings to Q3 profit
Minneapolis Supervalu reported Tuesday that it has returned to a fiscal third-quarter profit on tightened cost controls and improved margins.
The company has been negatively impacted as consumers have traded down and bought fewer items. To draw them back in, the grocer said it would cut prices, reorganize operations and add more Save-A-Lot stores.
Supervalu, which also runs Albertsons and Jewel-Osco stores, earned $109 million for the quarter, compared with a loss of $2.94 billion last year.
Sales fell 9% to $9.22 billion from $10.1 billion.
Barnes & Noble College Booksellers launches textbook rental service
NEW YORK Barnes & Noble College Booksellers, a wholly owned subsidiary of Barnes & Noble, announced that it has created a multichannel textbook rental program for college students. According to the company, Barnes & Noble College is the first nationwide bookseller to offer a multichannel program.
At the beginning of the 2009 fall semester, Barnes & Noble College said it was test piloting the rental program in three of its 636 campus bookstores. Since then, the program has expanded to 25 of their campus bookstores including The Ohio State University, The University of Maryland, Borough of Manhattan Community College and University of South Carolina.
The rental program enables students to rent textbooks by logging into their campus bookstore’s e-commerce site. They can also rent from their campus Barnes & Noble bookstore.
“We’ve had a tremendous response from students and faculty to our rental program and as a result have continued to expand it to other colleges and universities across the country,” said Max Roberts, president of Barnes & Noble College Booksellers. “What makes our program so unique is that we’ve made saving on textbooks even easier for students by providing them the option of ordering their rentals online and having them shipped or picked up at their campus bookstore.”
Kodak names winner of Best Buy video contest
ROCHESTER, N.Y. Best Buy sales associate Jason Kuntz was named the winner of Kodak’s “Print & Prosper Playback Payback” video contest for his creative rap video, “Sweet Sound of Ink Savings,” Kodak reported.
Kodak said it designed the contest exclusively for Best Buy sales associates with the goal of helping them better understand and market Kodak’s savings message, specifically on its All-in-One (AiO) Inkjet Printers, which offer consumers savings of $110 a year on average on ink, based on as few as four pages per day.
“The Print & Prosper Playback Video Contest demonstrates Kodak’s dedication to providing unique support programs to our retail partners,” said Vincent Young, director, marketing communications, Americas region for Eastman Kodak Company. “We applaud Jason Kuntz and all the Best Buy retail associates who participated in the program for their creativity and commitment to educating consumers about the incredible value Kodak delivers with its innovative inkjet printers and affordable ink.”