L&R Distributors closes deal on Select Brand from Walgreens
NEW YORK — L&R Distributors on Tuesday closed on the deal to acquire the assets of SAJ Distributors, along with the private-label line Select Brand from Walgreens.
L&R will operate the existing SAJ Distribution Center and offices located in Pine Bluff, Ark., under the SAJ name and retaining the necessary SAJ staff members in customer service, accounting, purchasing and operations, the company announced. L&R will maintain the existing SAJ sales staff, delivery methods and inventory mix.
The L&R acquisition of SAJ will provide an additional 1,000 points of independent grocery distribution into L&R’s existing client base, the wholesaler reported.
Weis Markets adjusted net income up 13.9% for fiscal 2012
SUNBURY, Pa. — Weis Markets on Tuesday reported net income of $82.5 million for the 52-week period ended Dec. 29. Even with one less week of sales, that’s up 9.2% versus fiscal 2011, which was a 53-week period, the grocer noted. Sales were down slightly by 1.9% to $2.7 billion compared with the week-longer year-ago period. Comparable sales were down 2%.
Adjusting for the 52-week to 53-week comparison, the grocer’s 2012 net income increased 13.9% while sales and comparable store sales were flat.
"We continue to operate in an economy significantly impacted by slow economic growth, high unemployment and declining household income," stated David Hepfinger, Weis president and CEO. "As a result of these continuing trends, our customers were cautious in their spending in 2012," he said. "We successfully worked through these challenges by efficiently managing and improving our stores and supply chain, which helped us drive strong net income increases and maintain our market share. Our results also benefited from record investments in our store base, which will continue in 2013."
Reports: Meijer to eliminate double coupons at some Mich., Ind. stores
NEW YORK — Meijer is ending double coupons at some of its stores in Michigan and Indiana, according to published reports.
A sign at a Meijer store in Jackson, Mich., shown in a photo posted on the bargain website bargainstobounty.com, read, "To keep our everyday prices low, we will no longer double coupons after 3/30/13. Enjoy even easier savings with digital coupons."
According to published reports, the mass merchandise chain was planning to eliminate double coupons in the Battle Creek and Lansing, Mich., markets, as well as Fort Wayne and South Bend, Ind. Double coupons are when a retailer promises to double the face value of a coupon, for example, offering a $2 discount on a coupon valued at $1.
Mperks, Meijer’s digital coupon system, was launched in late August 2010, and the number of subscribers hit the 1 million mark in January 2013, gaining 101,000 new members in December 2012, as well as 13.7 million clipped offers and $5 million in savings.