Wal-Mart de Mexico Q2 profit drops on store openings
New York City — Wal-Mart de Mexico SA said second-quarter profit fell 3.4% as the chain increased spending to open new stores and integrate Central American operations.
The Mexican unit of Wal-Mart Stores reported a net income of 4.49 billion pesos ($380 million) in the April-June period, down from 4.65 billion pesos during the same three months of 2010. Revenue rose 9% to 88.37 billion pesos ($7.49 billion).
CEO Scot Rank says spending to open new stores cut into profits but will help performance in the second half of the year.
The company has opened 176 stores so far in 2011, with the majority of the openings were in late June.
Food Lion expands reach in South Carolina with six new stores
SALISBURY, N.C. — Food Lion unveiled Wednesday six new stores in the Greenville, S.C., area market.
The stores, located in Anderson, Greenville, Greer, Seneca and Simpsonville, replace former Bloom locations. As part of the transition to Food Lion stores, the newly-opened supermarkets will carry a variety of natural and organic products, as well as fresh seafood, produce and other specialty items, Food Lion SVP James Egan said. As part of the grand opening celebration at the stores, which was held Wednesday, Food Lion announced it will offer weekly specials, grocery gift card giveaways up to $250 and radio remotes that feature in-store shopping sprees over a four-week period.
Like all Food Lion stores, the new locations also will offer customers its loyalty program, MVP, offering customers savings throughout the store.
To date, Food Lion operates more than 150 stores in South Carolina.
NPD: Kids want electronics and parents are buying
PORT WASHINGTON — Consumer electronics are growing increasingly popular with children, as indicated by NPD’s latest survey, which revealed that in the past year78% of portable video game systems purchased, and 56% of portable digital media players (PDMP) purchased were given to the child.
For households with kids ages 4 to 14, newer devices such as e-readers and media tablets were acquired at single-digit rates (8% and 5%, respectively) in the past year, slowly driving up the number of homes where kids have access to these devices.
The report also notes a slight decline in the average number of days in which kids use cell phones, PDMPs and portable video game systems since last year. For all other devices, the average number of days kids are using them has remained stable or declined, suggesting kids are maxed out on time.
“In terms of kids’ usage of new devices, one consideration to keep in mind is the fact that the novelty of these new devices may be leading kids to a shorter-term change in behavior,” said Anita Frazier, industry analyst, The NPD Group. “Kids who have access to a media tablet may temporarily put down their portable video game system but not necessarily move away from the gaming system altogether.”