Rising expenses slimmed Target’s fourth-quarter net income by 5.2 percent to $981 million, bringing the mass merchant’s fiscal year to a close with $2.9 billion in net income, about flat with last year’s bottom line. Read Full Article
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HFN Reports Sears Posts Losses for Fourth Quarter and Fiscal Year
Sears Holdings reported a net loss of $2.4 billion for the fourth quarter and $3.1 billion for the fiscal year ending on Jan. 28. Read Full Article
Food Navigator-USA: Heinz: We’ll ‘hope for the best and plan for the worst’ in the US market
Improving economic data notwithstanding, the US market will remain challenging for packaged food companies for some time, according to bosses at Heinz. Read Full Article
USA Today reports Wal-Mart takes controlling stake of Chinese retail website
Wal-Mart Stores plans to buy a controlling stake in the fast-growing Chinese online retailer Yihaodian. Yihaodian sells more than 180,000 products, including groceries, electronics and apparel. Read Full Article
Reuters reports that Walmart wins with a back-to-basics approach
Wal-Mart Stores Inc’s (WMT.N) turnaround appears to be gaining traction as simple strategies like undercutting competitors by a penny on a gallon of milk are helping to restore its image as the go-to retailer for budget-conscious Americans. Read Full Article
Nutra Ingredients-USA reports Green tea extract shows anti-diabetic potential: DSM TeaVigo data
The green tea compound EGCG may enhance tolerance to blood sugar in diabetic lab mice, and may contribute to anti-diabetic nutritional strategies, says a new study. Read full article
Bakery & Snacks reports Kellogg becomes #2 global snacks firm with Pringles buy; analysts react
Kellogg’s $2.7bn deal to acquire Procter & Gamble’s Pringles will significantly boost its global snacks presence and open existing products up to new markets, according to analysts. Read full article
Food Navigator-USA reports Industry groups slam call to regulate ‘toxic’ sugar like alcohol or tobacco
Industry groups have reiterated their position that sugar is fine in moderation, after a provocative commentary in the journal Nature this week called for regulating sugar like alcohol or cigarettes, arguing that it is just as toxic for the body. Read Full Article
Food Production Daily reports proposed FDA budget increase will ‘strengthen’ China food safety
The US Food and Drugs Administration (FDA) has requested a budget increase of more than $250m for 2013 – including $10m to strengthen the safety of Chinese produced food. Read Full Article
NPD Group announces they have reached an agreement with Walmart on POS Data
A long awaited announcement for the retail community has finally taken place. Check out this link to NPD Group and read about the agreement they have reached with Walmart to receive and analyze NPD data! Read Full NPD Report
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