Thursday, February 24, 2011

Lunchtime Blog: News One-Liners: 2/21-2/24

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Shuttering of Sheepshead Bay Pathmark has Lawmakers looking for Affordable Supermarket Options.

More @ NY Post, ABC News w/ video, NY1 w/video, Long Island Business News, Brooklyn Eagle.

Supermarket News reports A&P is looking for a $6.8 M incentive plan
 The proposed plan would reward a group of 146 salaried employees up to $6.8 million in cash, provided the chain can reverse a decline in same-store sales while maintaining or improving merchandise margins during a 28-week period beginning with the commencement of A&P's new fiscal year Feb. 27. The plan could allow four senior executives to earn 175% of their base salaries while providing 100% bonuses for other participants, including the company's chief information officer, senior vice presidents, vice presidents, senior directors, directors, district managers and senior category managers.
Supermarket News has reactions from the store closures.

On Tuesday, Walmart Stores announced its fourth-quarter same-store sales fell more than expected., down 1.1% as they struggle with "pricing and merchandising issues".  More @ Pro Gro @Forbes.

Looks like NYC is not the only area Walmart is trying to infiltrate (besides South Africa, a Civil War battlefield, and San Diego) a report surfaced they're going after Target's turf in Minnesota, with a reportedly $1 billion budget.

Ad Age: Walmart could take NYC...With help from the Obamas.
The Walmart-Obama combo, Mr. Flickinger said, is "the most powerful pairing America may have ever seen. It's the worst nightmare for the supermarket sector, food retailers and wholesalers and [unions]."
Walmart is also building a new grocery store in Chicago's West Loop.

Looking at the Walmart-Massmart (South Africa) merger, groups wonder where are the conditions?

Massmart's shares also fell this morning.

China's National Development and Reform Commission has fined Wal-Mart Stores Inc. and Carrefour SA a combined 9.5 million yuan ($1.4 million) for deceptive pricing practices at a small number of stores around the country. More @ The WSJ.

King Kullen is debuting a new nutritional scoring system called NuVal this week. "Implementing the NuVal scoring system is the most ambitious step we've taken in 80 years to promote nutritious eating," said Brian C. Cullen, co-president. More @ LI Business News.

Stop & Shop announced a new Fuel Price System.

Queens Chronicle: Aldi comes to Rego II.

CBS News: Groceries, Clothing Will Soon Cost You More Money.
Global wheat prices have more than doubled in the last six months....

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DNAinfo: Upper East Side Fairway to open in June!

The Huffington Post wonders where they can buy tomatoes.

The Tribeca Amish Market files for bankruptcy.

Stand with workers in Wisconsin!  There have been rallies all week across the nation, showing amazing union solidarity with the workers in Wisconsin.   Can't make a rally? Show your support in the Social Media world by using this photo for your profile pic or twitter icon.

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