Financial News

Kroger is teaming up with Chase Pay, the digital engagement wallet from JPMorgan Chase & Co., to offer mobile payments. The initiative will kick off in select retail markets and e-commerce programs in 2018.

Kroger’s payment solutions are a part of the company’s “Restock Kroger Plan.” One of the key strategic drivers is to expand partnerships to create customer value, which includes Kroger forming alliances to accelerate digital and e-commerce platforms.

Supervalu has completed the previously announced acquisition of Associated Grocers of Florida, in a transaction valued at approximately $193 million. This marks the second completed acquisition for Minneapolis-based Supervalu whose national distribution center continues to expand with annual sales of approximately $560 million reported in its last fiscal year.

The discounter will execute approximately 2,000 real estate projects in fiscal 2018. The emphasis will be on remodeling. Dollar General plans to open 900 new stores (compared to an estimated 1,285 new units in fiscal 2017), remodel 1,000 existing sites and relocate 100 stores (compared to 760 combined remodels and relocations this year).

Atrium Innovations, a company specializing in development, manufacturing and the commercialization of innovative, science-based natural health products has announced that it will be acquired by Vevey, Switzerland-based Nestlé for $2.3 billion in cash. Global investment firm Permira, Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec assisted in the acquisition.

Coastal Salt & Soul, a holistic bath and body company specializing in sea-to-skin body care products, has announced it has been acquired by Celebrate Beauty Brands — a subsidiary of Beauty Partners.

Costco “turned in a month for the ages in the current retail environment,” Ken Perkins, analyst at Retail Metrics, told MarketWatch.

Net sales surged 13.2% to $11.26 billion in November, up from $9.95 billion in the year-ago period. Online sales rose 39%, and were up 44% in the 12-week period through Nov. 26, helped by an expanded assortment and faster delivery times.

Net income increased 19.5% to $104.6 million, or $1.70 a share, in the quarter ended Oct. 28, compared to $87.6 million, or $1.40 per share, in the year-ago period. Analysts had expected earnings of $1.66 a share.

Net sales increased 18.6% to $1. 34 billion from $1.13 billion last year. The retailer estimated approximately $14 million in lost sales due to Hurricanes Harvey and Irma.

Throughout what Amazon calls the “Turkey 5,” or the five shopping days spanning Thanksgiving to Cyber Monday, Amazon customers “worldwide ordered at record levels,” according to the online giant.