business news in context, analysis with attitude

  • Meijer Inc. announced yesterday that says it plans to open five new stores this year - in Illinois, Ohio and Indiana - and nine next year.

    Meijer spokesman John Zimmerman told the Associated Press that this is the growth potential that the company wants to maintain. Expanding the company’s store base – even as it has been restructuring and eliminating headquarters jobs as a way of cutting costs – is seen as a way of remaining competitive with chains such as Wal-Mart.

  • The Rocky Mountain News reports that more than 17,000 employees represented by the United Food and Commercial Workers (UFCW) who work at Albertsons, Safeway, King Soopers and City Market stores in Colorado and Wyoming have begun negotiations on a new contract to replace the one expiring on September 11.

  • Representatives of 25,000 unionized supermarket employees and the three major supermarket chains - Albertsons, Safeway and Kroger – reportedly have yet again extended the existing contract, this time until August 4, as they work on a new labor agreement.

    The original contract expired May 2.

  • The US Bankruptcy Court reportedly has approved bankrupt Fleming Cos.’ plan to reorganize around its Core-Mark convenience-store distribution business.

  • Duane Reade Inc. shareholders reportedly have approved a takeover of the company by a private equity group led by Texas oil magnate Robert Bass for about $407 million.

  • UK retailer Marks & Spencer, having just defended itself from an unwelcome takeover attempt and looking to create a strategy that will allow it to rebuild its reputation and position, reportedly is considering the opening of stores in Russia and China.

KC's View: