OPERATIONS

Wal-Mart launches online site of goods make by small, women-owned businesses

BY Marianne Wilson

Bentonville, Ark. — Wal-Mart Stores on Thursday launched a new section on its website dedicated to products from small, women-owned businesses around the world.

More than 200 items from 19 businesses in nine countries are featured in the new "Empowering Women Together" section of Walmart.com. The launch comes a day before International Women’s Day.

"Empowering Women Together is a simple concept; it connects shoppers in the United States with quality products made by women-owned businesses around the world," said Andrea Thomas, SVP, Walmart. "And in doing that, it helps achieve so much more. Through Walmart’s Empowering Women Together, customers can help these suppliers increase their incomes, better their lives and create new jobs for others, and Walmart can help these suppliers gain experience with buying trends, scaling, product development and acumen they need to build their businesses."

The product collection includes jewelry from Peru, Rwanda, Kenya and the U.S.; home accessories from Rwanda and Haiti; paper mache from Haiti, apparel and accessories from Rwanda; iPad and laptop cases from Cambodia and Nepal; coffee and tea sets sourced globally and made in America; and specialty foods made in America and Canada.

Wal-Mart’s partners in the Empowering Women Together project include Full Circle Exchange and Global Goods Partners, non-profit organizations that sell products made by women.

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FINANCE

Kroger Q4 profit beats Street

BY Marianne Wilson

Cincinnati — The Kroger Co. on Thursday reported a better-than-expected profit for its fourth quarter profit amid a surge in sales.

For the period ending Feb. 2, Kroger earned $461.5 million, compared to the year ago period when the company reported a loss of $306.9 million as pension costs dragged down results.

Revenue rose 12.8% to $24.2 billion. Same-store sales increased 3% for the quarter, excluding fuel. After adjusting for the extra week in the fourth quarter, total sales increased by 3.7% over the fourth quarter of fiscal 2011.

For the full 2012 fiscal year, total sales increased to $96.8 billion or 7.1% compared with the prior fiscal year. After adjusting for the extra week in fiscal 2012, total sales increased to $94.8 billion or 4.9% compared with the prior fiscal year.

Excluding fuel, total sales increased 6% over the same period last year. Further adjusting for the extra week, total sales excluding fuel increased 4%.

Net earnings for fiscal year 2012 totaled $1.50 billion.

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buangsila001 says:
Mar-14-2013 05:20 am

It nice to hear that although
It nice to hear that although the economy is not doing well, still Kroger Co. increases their sales. JKaleFlagg

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FINANCE

PetSmart Q4 profit up 31%; outlook disappoints

BY Staff Writer

Phoenix — PetSmart Inc. reported a 31% increase in its fiscal fourth-quarter profit, helped by an extra week of sales. But its forecast for this year disappointed investors.

The company earned $134 million for the quarter ended Feb. 3, up from $102 million in the year-ago period.

Revenue rose 15% to $1.88 billion from $1.64 billion, helped by an extra week of sales in the more recent quarter. Same-store sales rose 4.6%.

For the full year, PetSmart’s revenue rose 11% to $6.8 billion.

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