retail news in context, analysis with attitude

Bloomberg reports that Ahold USA said this week that it “is scaling back spending to enable it to cut prices and use other promotions to win shoppers in the U.S., where the company gets most of its revenue. The company said today it would continue to reduce costs and that 2011 would remain challenging for the food-retail industry.”’

• The Associated Press reports that Target Corp. has agreed to settle a lawsuit charging that it illegally disposed of hazardous waste in California by writing a $22.5 million check. In addition to the fine, the settlement “puts Target under tight scrutiny to ensure that it properly disposes waste at its nearly 300 stores in California.”

• The New York Times reports that Family Dollar Stores has rejected a $7 billion takeover bid from Trian Group, saying that “a sale isn’t in the best interests of the company.” However, the Times reports, some analysts believe that the company could still be in play.

• Casey’s General Stores announced that it has signed a definitive purchase agreement to acquire five convenience stores in the Springfield, Missouri, market from QuikTrip Corporation. Terms of the deal were not disclosed.
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