Market Trends

ROSWELL, Ga. - Harry's Farmers Market Inc. on Wednesday announced that it has completed the sale of its three mega-stores and related support facilities to Whole Foods Market Group Inc., as previously announced, for a purchase price of $35 million in cash. In addition, the company has changed its corporate name to Hurry Inc.

'You've got to push the envelope. The more you push, the more opportunities you'll find," says Jeff Noddle, president, CEO and COO of Supervalu. These days, Noddle, who took over the helm in June from long-time CEO Mike Wright, is pushing pretty hard, looking at opportunities outside Supervalu's traditional customer base —such as alternative formats, significant reductions in inventory, organic growth vs. acquisition, B2B initiatives, and a laundry list of other strategic issues.

MINNEAPOLIS - Food retailer and distributor Nash Finch Company today reported that net earnings rose 50 percent to $6.0 million for the third quarter ended October 6, 2001, compared to net earnings of $4.0 million reported for the third quarter of 2000.

Sara Lee Corp. today said net income fell almost 5 percent in its fiscal first quarter. Del Monte Foods Co. reported a slight loss in its earnings.

BOULDER, Colo. - Wild Oats Markets Inc., a leading national natural and organic foods retailer, today announced financial results for the third quarter and first nine months ended September 29, 2001.

BANGKOK, Thailand - Cees van der Hoeven, CEO of Royal Ahold, and Antony Burgmans, chairman of Unilever, have been chosen to take over as co-chairmen of the Global Commerce Initiative, a worldwide advisory group for the development of voluntary electronic transaction standards for business.

WASHINGTON, DC - The supermarket industry posted its highest net profits in nearly three decades at 1.25 percent of sales, according to the Food Marketing Institute's 2000-2001 Annual Financial Review. Operating income, at 3.03 percent, was near the 10-year high of 3.05 percent.

KOKIE, Ill. -Private label procurers Topco Associates Inc. and Shurfine International Inc. on Monday announced that their respective shareholder groups have voted in favor of a proposed merger of the Shurfine International operations into those of Topco Associates Inc. The transaction, which will be achieved through the formation of a new company, Topco Associates LLC, is effective Nov. 1, 2001.