Giant to open Feasterville, Pa., store
FEASTERVILLE, Pa. — Giant Food Stores plans to open a new store near Philadelphia on March 16, the Carlisle, Pa.-based Royal Ahold banner said.
Giant-Carlisle acquired the 53,000-sq.-ft. former Genuardi’s store from Safeway in Feasterville, Pa., in November 2010 and said the renovated store will look more like a modern Giant prototype.
The store will include Nature’s Promise Marketplace, a section that will stock more than 2,500 natural and organic grocery, frozen, dairy and special diet products, part of the chain’s focus on health and wellness. The store also will use Giant-Carlisle’s Healthy Ideas product labeling system, which uses blue and green shelf tags to identify healthy foods, and EasyScan self-scanning machines.
Target expands clinic presence
MINNEAPOLIS — Target Clinic is slated to open eight new locations in three markets.
The clinics will open in Target stores in the Twin Cities, Chicago and Ft. Lauderdale-Davie areas by the end of July, bringing the total clinic count to 44. The first new Target Clinic location opened March 2 in Minnesota.
Target said expanding its clinic business will increase access to healthcare services.
"Target believes that quality healthcare services should be accessible and affordable for everyone," said Josh Riff, Target medical director. "By opening new Target Clinic locations, we will provide our guests with even more support and convenience to help them meet the well-being needs of their families."
At investor conference, Safeway outlines dividend plan
PLEASANTON, Calif. — Safeway on Tuesday said that it expects to earn $1.60 to $1.80 per diluted share during the quarter, after the company’s board approved a $1.1 billion dividend from Canada to the United States.
The dividend, Safeway said during its 2011 investor conference, will be used to pay off $600 million of U.S. debt, and the company will use the remainder of the dividend for share repurchases.
The company also noted that the dividend is expected to reduce 2011 earnings per diluted share by 15 cents due to tax expense (22 cents per diluted share) and will be partially offset by share repurchases (6 cents per diluted share) and lower interest expense (1 cent per diluted share). The combined impact of the dividend and related share repurchases is expected to be accretive to earnings per diluted share in 2012 and beyond.
"We made tremendous progress in 2010. We achieved price parity in both the United States and Canada, continued to achieve significant cost reductions, launched new digital marketing initiatives and continued innovation in corporate brands," said Steve Burd, Safeway chairman, president and CEO. "With 85% of our store base remodeled into Lifestyle stores, we believe we have the freshest asset base in the supermarket industry. When you combine all this with our differentiated offering, we believe we are very well-positioned for future growth."