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Supermarket & Grocery Industry News

  • U.S. Retail IT Spending to Resume Growth in 2003 and Beyond, IDC Says

    FRAMINGHAM, Mass., -- While IT spending by the U.S. retail industry decreased by 3.4% in 2002 from the prior year, IDC anticipates that IT spending will increase again in the retail industry in 2003 and reach $29.6 billion by 2007, representing a five-year compound annual growth rate (CAGR) of 5.3%.

  • Kmart, Fleming reach settlement

    CHICAGO -- Bankrupt retailer Kmart Corp. and its former grocery supplier, Fleming Cos. have reached a settlement over money Fleming says it is owed by Kmart, the Detroit Free Press reported on Friday.

  • Barrington Foods Forms Strategic Alliance with Sierra Products Group

    LAS VEGAS --Barrington Foods International, Inc., announced today they have begun a strategic alliance with Sierra Products Group, Inc. Sierra Products Group is an approved vendor for Wal-Mart Stores Inc. and numerous other mass retailers.

  • Schnuck Markets, Inc. chooses Kyocera Mita for Pharmacy Printing

    ST. LOUIS -- Schnuck Markets has selected Kyocera Mita FS-1800+Rx printer units, for its pharmacies, ELT, resellers of the printers, announced yesterday.

  • Banks Back Ahold Unit's Spending Plan-WSJ

    AMSTERDAM -- The U.S. supermarket division of Ahold, the world's number three retailer rocked by an accounting scandal, can proceed with a capital spending plan after creditor banks approved it, The Wall Street Journal reported on Thursday.

  • Report: U.S. Foodservice Suppliers Cited Problem

    WASHINGTON - Auditors at Deloitte & Touche became aware of potential accounting irregularities at U.S. Foodservice Inc. after at least two of the company's suppliers disputed rebate figures, the Washington Post reported on Wednesday, citing sources familiar with the situation.

  • Analyst Questions Accounting of UK Safeway

    LONDON - Questions are being raised by an analyst about the way British chain Safeway accounts for supplier rebates, according to a report in The New York Times. Safeway, which is the subject of a bidding war in the UK, said there was nothing unusual about its practices.

  • Albertsons Posts Lower 4Q Profit, Changes Vendor Allowance Reporting Method

    BOISE, Idaho - Food and drug retailer Albertsons Inc. today reported lower fourth-quarter profits as it battled falling sales and fierce competition. The retailer also announced that it has changed the timing on how it accounts for vendor allowances.

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