REAL ESTATE

Wal-Mart plans supercenters for Western Canada

BY CSA STAFF

Toronto Wal-Mart Stores said Tuesday it plans to open its first supercenters in the Canadian province of Saskatchewan, according to a report from Reuters.

The retailer will open two of the big-format stores; both 185,000-sq.-ft. stores are slated to open in Regina and Saskatoon in early 2010.

Analysts said the move into the largely agricultural-based province will heighten competition among existing grocers.

“It definitely will make them sharper on their price points if they are not there already, but I don’t think that overall it does anything to the companies just because obviously they have been competing with Wal-Mart for several years now and it is nothing new there,” Brian Yarbrough, a retail analyst at Edward Jones in St. Louis told Reuters.

Earlier this year, Wal-Mart said it planned to spend C$115 million ($104.4 million) to build a 400,000-sq.-ft. distribution center in Balzac, Alberta. The facility is expected to open in late 2010 and act as a distribution hub for fresh food in Western Canada.

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Rite Aid, ADA brush you up on oral hygiene

BY CSA STAFF

CAMP HILL, Pa. Rite Aid is partnering with the American Dental Association to spread the word on the importance of regular dental visits and good oral hygiene.

Afree oral care guide will be available at more than 4,800 Rite Aid stores nationwide and online at www.riteaid.com starting July 26. The 12-page oral care guide from Rite Aid contains proactive tips from the ADA to help prevent tooth decay, gum disease and gingivitis as well as information on how gum disease may be linked to overall health.

As an added incentive to encourage customers to take charge of their oral health, the purchase of select oral care products of $15 or more July 26 to Sept. 26 will qualify through the Single Check Rebate program for a free Summer Fun tote with $10 worth of magazines, sugarless chewing gum and other items.

Starting July 26, visitors to Rite Aid’s online health information center at www.riteaid.com/health can view flossing and brushing demonstrations, brush up on additional oral health information and learn about oral health through interactive games.

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Ebay sees large increase in 2Q revenue

BY CSA STAFF

SAN JOSE, Calif. Ebay announced that it posted second quarter revenue of $2.1 billion, a $97.7 million year-over-year decrease. The company recorded net income on a GAAP basis of $327.3 million or 25 cents per diluted share, and non-GAAP net income of $478.6 million or 37 cents per diluted share.

GAAP operating margin decreased to 19.6% for the quarter, compared to 24.8% for the same period last year. Non-GAAP operating margin decreased to 28.7% for the quarter, compared to 31.9% for the same period last year.

 

“We drove solid second quarter results, with strong momentum and market share gains at PayPal and continued stabilization in our core eBay business,” said eBay Inc. President and CEO John Donahoe. “We are managing our business with focus and discipline, delivering on our commitments while investing in our growth priorities. I’m pleased with our pace, our progress and our performance.”

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