Content about MEMPHIS

November 12, 2013

Electrolux North America has recently begun production on its first Memphis, Tenn.-made home cooking appliances.

Electrolux North America has recently begun production on its first Memphis, Tenn.-made home cooking appliances.

The inaugural products produced at the Memphis facility, the Frigidaire and Frigidaire Gallery slide–in ranges, rolled off the assembly line, were crated and loaded onto trucks for warehousing and retail distribution throughout the United States. This marks the culmination of a two-year construction effort of the $266 million facility.

October 10, 2013

Fred’s saw positive performance in its general merchandise and pharmacy departments, which lead to sales of $177.3 million in September, an increase of 4% over September 2012.

Fred’s saw positive performance in its general merchandise and pharmacy departments, which lead to sales of $177.3 million in September, an increase of 4% over September 2012.

The Memphis, Tenn.-based company, which operates 702 stores in the South, said same-store sales increased by 2.8%, compared with a 3.8% decrease last year.

For the year to date, sales were $1.3 billion, a 1% increase over $1.3 billion during the same period last year. Same-store sales increased by 0.8%, compared with a 1.2% decrease last year.

August 29, 2013

Fred's experienced growth in sales, customer traffic, average ticket and gross margin for the second quarter ended Aug. 3.

MEMPHIS, Tenn. — Fred's experienced growth in sales, customer traffic, average ticket and gross margin for the second quarter ended Aug. 3.

The company’s net income for the quarter was $3.3 million, or $0.09 per diluted share, compared with net income of $6.1 million, or $0.17 per diluted share, in the year-earlier period. However, the prior-year quarter included a benefit of approximately $4 million, or $0.11 per diluted share, for favorable tax credits. 

July 29, 2013

Electrolux Major Appliances North America has named Daren Couture as SVP of end-to-end supply chain. Couture will oversee the company’s supply chain and nine manufacturing facilities in North America, including the newest cooking appliances facility located in Memphis, Tenn.

CHARLOTTE, N.C. — Electrolux Major Appliances North America has named Daren Couture as SVP of end-to-end supply chain. Couture will oversee the company’s supply chain and nine manufacturing facilities in North America, including the newest cooking appliances facility located in Memphis, Tenn. 

July 11, 2013

Fred's Super Dollar reported $187.7 million in sales for the five weeks ended July 6, up 3% as compared to the same period a year ago. Comparable store sales for the month increased 4.5%.

MEMPHIS, Tenn. — Fred's Super Dollar reported $187.7 million in sales for the five weeks ended July 6, up 3% as compared to the same period a year ago. Comparable store sales for the month increased 4.5%.

March 28, 2013

Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year.

MEMPHIS, Tenn. — Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year. Comparable store sales increased 1.1%. Excluding the effect of the extra week in the current year, fiscal 2012 comparable store sales for the year decreased 1.4% from the year-earlier period. 

January 2, 2013

Have an event relevant to the retail and CPG industry you would like to add? Send an email to Mtroy@LF.com

JANUARY

January 8-11: Consumer Electronics Association International CES show in Las Vegas. Visit www.cesweb.org.

January 13-16. The National Retail Federation’s Annual Convention & Expo in New York. Visit www.nrf.com/annual13

November 20, 2012

Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results.

Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results. "During the third quarter we continue to see generally weak economic conditions throughout the Southeast which are clearly weighing heavily on our customers and influencing how they shop for their basic needs," he said. "It's more evident that things are not getting better for our core customers."

August 24, 2012

Fred’s reported that net income for the quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.

MEMPHIS — Fred’s reported that net income for the quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.

Sales rose 4% to $470.8 million from $452.7 million, and same-store sales dipped 1%.

Profit results missed Wall Street expectations, and the discounter has lowered its full-year earnings forecast.

August 7, 2012

The Walmart Foundation alongside six women’s foundations – The Washington Area Women’s Foundation, The New York Women’s Foundation, Women’s Fund of Mississippi, Women’s Foundation of Minnesota, Women’s Foundation for a Greater Memphis and Women’s Funding Network – has launched the Partnership for Women’s Prosperity.

BENTONVILLE, Ark. — The Walmart Foundation alongside six women’s foundations – The Washington Area Women’s Foundation, The New York Women’s Foundation, Women’s Fund of Mississippi, Women’s Foundation of Minnesota, Women’s Foundation for a Greater Memphis and Women’s Funding Network – has launched the Partnership for Women’s Prosperity. The new national partnership intends to help economically vulnerable women gain financial and economic security through education, job training and employment opportunities.

November 22, 2011

Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

September 20, 2011

Same-store sales growth and a number of new store opening helped Autozone deliver another impressive quarter, while helping the company maintain its position as a leading automotive parts retailer for both everyday consumers and professionals.

MEMPHIS, Tenn. — Same-store sales growth and a number of new store opening helped Autozone deliver another impressive quarter, while helping the company maintain its position as a leading automotive parts retailer for both everyday consumers and professionals.

Autozone reported net sales of $2.6 billion for its fourth quarter ended Aug. 27, an increase of 8.1% from the fourth quarter of fiscal 2010. Domestic same-store sales increased 4.5% for the quarter.

September 6, 2011

The Kroger Co. said Friday that its Kroger Delta Division, based in Memphis, has acquired eight Memphis-area Schnucks grocery stores that the company will convert and re-open under the Kroger banner over the next few weeks.

MEMPHIS -- The Kroger Co. said Friday that its Kroger Delta Division, based in Memphis, has acquired eight Memphis-area Schnucks grocery stores that the company will convert and re-open under the Kroger banner over the next few weeks.

Currently, Kroger operates 37 stores in the Memphis metropolitan area, and the acquisition ups the area store count to 43, with two of the acquired Schnucks locations replacing two smaller existing Kroger locations.

The Delta Division operates 109 stores and 68 fuel centers in five states under the Kroger banner.

August 25, 2011

Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures.

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

August 11, 2011

Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

MEMPHIS, Tenn. — Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

The store is located in Memphis, Tenn., and features a green building design and a spacious layout for an optimal shopping experience, the company reported. 

To commemorate the opening of its 7,000th store in Memphis, Family Dollar completed the celebration with the $7,000 donation to the Mid-South Food Bank, along with cans of food donated by members of the local community. 

May 24, 2011

Strong third quarter results at AutoZone caused shares to surge on Tuesday and pushed the company’s stock toward the $300 mark.

MEMPHIS, Tenn. — Strong third quarter results at AutoZone caused shares to surge on Tuesday and pushed the company’s stock toward the $300 mark.

April 12, 2011

AutoZone announced that it has recognized Great Neck Saw as Extra Miler: Supplier of the Year during the annual AutoZone Vendor Summit held in Memphis, Tenn.

MEMPHIS, Tenn. -- AutoZone announced that it has recognized Great Neck Saw as Extra Miler: Supplier of the Year during the annual AutoZone Vendor Summit held in Memphis, Tenn.

March 24, 2011

In yet another example of how discount stores are dominating the retail industry these days, Fred's Inc. reported strong earnings and sales growth for its fiscal fourth quarter.

MEMPHIS, Tenn. -- In yet another example of how discount stores are dominating the retail industry these days, Fred's Inc. reported strong earnings and sales growth for its fiscal fourth quarter. The company reported fourth-quarter net income of $8.6 million, or 22 cents per diluted share, a 49% increase over last year's reported net income of $5.8 million or 15 cents per diluted share. For the year ended Jan.

March 1, 2011

The nation’s largest automotive parts retailer announced another quarter of record results in which earnings per share advanced nearly 36% to $3.34 on same-store sales that grew 7.1% for the quarter ended Feb.12.

MEMPHIS, Tenn. -- The nation’s largest automotive parts retailer announced another quarter of record results in which earnings per share advanced nearly 36% to $3.34 on same-store sales that grew 7.1% for the quarter ended Feb.12.

January 13, 2011

Walmart announced that it is funding Partners for Breakfast in the Classroom, a new initiative aimed at increasing breakfast consumption among schoolchildren and highlighting the academic and nutritional benefits of eating in the morning.

Walmart announced that it is funding Partners for Breakfast in the Classroom, a new initiative aimed at increasing breakfast consumption among schoolchildren and highlighting the academic and nutritional benefits of eating in the morning.

Walmart Foundation donated $3 million to the initiative being run collectively by the Food Research and Action Center (FRAC), National Association of Elementary School Principals Foundation, National Education Association Health Information Network, and School Nutrition Foundation.

November 29, 2010

Total sales and comparable-store sales both rose during the month of November for Fred's, the...

November 22, 2010

Fred's reported that for the third quarter, net income increased 55% to $7.8 million or...