Financial News

PLEASANTON, Calif. — Safeway is projecting that 2012 will be a good year for the retailer.

The company said ahead of an investor conference held Tuesday that it forecasts earnings per share will be in the range of $1.90 to $2.10 per diluted share. This compared with net income of $1.49 per diluted share in fiscal 2011, due to a tax charge 29 cents per diluted share. Excluding the charge, diluted earnings per share would have been $1.78 in fiscal 2011.

QUINCY, Mass., and PURCHASE, N.Y. — Stop & Shop announced that its New England and New York Metro divisions and its customers were able to give back more than $22 million in 2011 into the hundreds of communities in which they operate.

DEERFIELD, Ill. — Higher front-end sales for the month of February helped counter-balance lost revenue from Express Scripts prescriptions, Walgreeens reported Monday. Overall, the drug store chain reported a 1.5% sales increase to $5.9 billion.

Shares of Walgreens were up slightly by 8 cents to $32.77 in early morning trading.

BENTONVILLE, Ark. — Walmart said Thursday it is continuing its annual tradition of increasing shareholder payout by raising its dividend by 9%.

Walmart will pay a quarterly dividend of 39.75 cents on April 4 to shareholders of record on March 12. That works out to $1.59 per share for the year. The company has increased its dividend every year since its first declared dividend in March 1974.

According to Walmart president and CEO Mike Duke, the company's U.S. business is back on track, and international results remain strong.

GREEN BAY, Wis. — General merchandise retailers Shopko and Pamida have completed their merger that will create a $3 billion company that serves largely rural communities in 22 states.

The combined entity will retain the Shopko name. Shopko will be headquartered in Green Bay and Pamida’s corporate headquarters in Omaha, Neb., will be consolidated into the Green Bay office over the next several months.

LAKELAND, Fla. — Publix reported a 13.4% increase in its fourth-quarter sales to $7.2 billion, the retailer said Thursday.

Net earnings for fourth quarter 2011 were $399.5 million, compared to $342.1 million in 2010, an increase of 16.8%. Comparable-store sales for the fourth quarter increased 5.3%.

Meanwhile, earnings per share were 51 cents, up from 44 cents per share in 2010.

MINNEAPOLIS — Target reported a 7% same-store sales increase in February that shattered the company’s guidance for a 4% gain, thanks to unseasonably warm weather, which boosted shopper traffic and transaction sizes.

The sales increases was well above the company’s expectations, which prompted chairman, president and CEO Gregg Steinhafel to say, “We’re very pleased with the pace of our sales since the holiday season, though we continue to plan for a first quarter comparable-store sales increase of around 4%.”

CINCINNATI — Despite recording an increase in total and identical-store sales during fourth quarter 2011, Kroger reported a net loss due to costs associated with consolidating its pension plan for union workers.

The grocer, whose banners include Kroger, Ralphs and Food 4 Less, said the loss of of $306.9 million, or 54 cents per share, compared with a profit of $278.8 million in the year-ago period.

Total sales in the quarter rose 7.7% to $21.4 billion. Excluding fuel, sales rose 5%. Same-store sales increased 4.9% (excluding fuel).