Wal-Mart de Mexico Q4 profit increases 14%
Mexico City — Wal-Mart de Mexico SA reported Tuesday that profit for the fourth quarter increased 14%, citing newly acquired stores in Central America for the improved performance.
The Mexican unit of Wal-Mart Stores said that net income rose to $539 million in the fourth quarter, up from $474 million in the year-ago period.
Revenue rose 25% to $8.3 billion.
Walmex recently acquired stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.
Supervalu’s Save-A-Lot banner expands reach in the Windy City
ST. LOUIS — Save-A-Lot on Monday announced that it was expanding its reach by opening five new stores in the Chicago market.
Save-A-Lot, the hard-discount, limited-assortment grocery retailer and subsidiary of Supervalu, would nearly double its presence in the area, bringing the total Chicagoland stores to 13. The five stores, located in Chicago’s South Side, range in size from 11,000 to 21,000 sq. ft.
Next week, Save-A-Lot will deliver a free assortment of its exclusive, private-label products to residents within a quarter-mile radius of each of its new Chicago stores as part of the company’s grand opening celebration.
Save-A-Lot also announced that it anticipates to open an additional five locations by next year.
"Chicago long has been a priority market for Save-A-Lot, and we’re thrilled to be adding five more South Side stores," said Bill Shaner, Save-A-Lot CEO and president. "These locations are a perfect match with our strategy of bringing affordable groceries and more fresh-food options to neighborhoods with few existing grocery stores."
Bruce Foods CEO to serve on GMA’s board
NEW IBERIA, La. — The Grocery Manufacturers Association has tapped the leader of a food manufacturer to serve on its board of directors.
J.S. "Si" Brown, president and CEO of Bruce Foods, will serve on GMA’s board. Brown has held led the company, which specializes in manufacturing Cajun and Tex-Mex products, since 1973.
"I am deeply honored to serve the Grocery Manufacturers of America at a higher level," Brown said. "This is an organization that has been so important to our company and been so effective for the food industry that I am humbled to have been chosen."
With Brown, GMA’s board consists of more than 50 members, including treasurer/secretary William Cyr, Sunny Delight president and CEO, and recently appointed chairman, Gary Rodkin, who leads ConAgra Foods as the company’s CEO.