RETAIL NEWS

Walgreens' flagship Hawaii store in Honolulu is back on the market, months after a Los Angeles-based investment bank and wealth management firm paid $54 million to buy the property. (Pacific Business Journal).

Supervalu Inc. on Wednesday lower-than-expected profit for the first quarter amid ongoing efforts to spin off its Save-A-Lot division.

The supermarket operator reported a profit a profit of $46 million for the quarter, down from $61 million, in the year-ago period. Adjusted for charges related to the potential separation of Save-A-Lot and other factors, earnings declined to $53 million from $65 million last year.

Supervalu’s net revenue fell 3.9% to $5.20 billion.

Kroger is opening a larger format, called Kroger Marketplace, in the Memphis area. According to the Commercial Appeal, the Marketplace model adds departments for home fashion and design, bed and bath, kitchen and small appliances, apparel and shoes, and a Baby World. (Commercial Appeal)

The Minneapolis Star Tribune reports that Target and United Healthcare are among a slew of companies that are leaning on younger employees to keep veteran workers knowledgeable about technology, social media, and other evolving aspects of the marketplace in order to better engage and reach consumers. (Star-Tribune)

CAMP HILL, Pa. - To make sure students stay up to date with the latest technology, Rite Aid is debuting an 8.95-inch Windows tablet in time for back-to-school shoppers. Quality and affordable Craig products are also available including a 19-inch TV and 27-inch speaker tower.

"With Rite Aid's variety of unique and classic back to school items offered at outstanding prices, shoppers will find just what their students will need to academically succeed this school year, while shopping under budget," stated Tony Montini, Rite Aid EVP merchandising and supply chain.

GRAND RAPIDS, Mich. -- Walgreens is opening a new store in Grand Rapids, Mich., but it won't look like any other Walgreens.

The new store at 555 Michigan Street NE will be a smaller, speciality pharmacy that offers only specialty prescription drugs in a 2,000 square-foot space, according to mlive.com. The store is scheduled to open by the end of August.

WASHINGTON – With increases in consumer spending expected to remain solid during the remainder of the year, the National Retail Federation on Tuesday increased 2016 retail sales projections by 30 basis points to 3.4% over last year.

Online and other non-store sales, which are included in the overall figure, are expected to increase 7% to 10% year-over-year rather than the 6% to 9% percent forecast earlier.