Market Trends

STAMFORD, Conn. - In an unusual business move, Guinness Bass Import Company, a division of Diageo, is offering to reimburse its distributors to remove its discontinued Captain Morgan Gold brand, a flavored malt beverage that didn't perform to the company's expectations.

HONG KONG - Hong Kong-based supermarket operator Dairy Farm International Holdings Ltd. has reached an agreement to acquire the IKEA home furnishing businesses in Hong Kong and Taiwan from Jardine Pacific Holdings Limited, a Jardine Matheson Group affiliate, for $27 million, according to published reports.

JACKSONVILLE, Fla. - Winn-Dixie is launching a new Baby Rewards Club that offers discounts on merchandise, entries into sweepstakes, and other special offers and incentives.

MONTVALE, N.J. - Great Atlantic & Pacific Tea Co. said on Tuesday it will split its American and Canadian businesses in an effort to revive its struggling U.S. stores, and Elizabeth Culligan will step down as president and chief operating officer.

CHICAGO - Wal-Mart Stores Inc. increased its lead over Safeway Inc. in the 2002 Power Rankings, a key performance survey that examines how retailers and manufacturers rate each other in areas that are most important to their ongoing relationships, such as strategy, service and profitability.

DENVER - As Albertsons celebrated a new store opening in Denver this week, the retailer announced plans to significantly expand its presence in the state of Colorado.

GREEN BAY, Wis. - ShopKo Stores Inc. named Sam K. Duncan chief executive and president, effective Wednesday. Duncan replaces William J. Podany, who resigned in April as chief executive, president and director, for personal reasons.

KULPSVILLE, Pa. - Regional chain Clemens Family Markets has became the latest retailer to announce it will sell irradiated fresh ground beef.