Bassett reports drop in third-quarter sales
Bassett Furniture Industries Inc, reported Thursday a 2.4 percent decline in third-quarter net income to $4.16 million compared with a year ago.
Diluted earnings decreased by 1 cent to 38 cents a share.
Home furnishings sales were down 5.7 percent to $91.5 million. Revenue from its logistics division was off 4.7 percent to $13.2 million.
Cost of sales dropped 10.5 percent to $40.1 million.
Imperial touts U.S. market progress in 2016
Imperial Brands PLC, owner of ITB Brands LLC of Greensboro, provided Thursday a preliminary glimpse of its projected fiscal 2016 performance. Its fiscal year ends Sept. 30, with the full-year report to be released Nov. 8.
The English tobacco manufacturer said "we are on track to meet full year expectations at both constant currency and reported exchange rates."
Imperial said it continues to benefit from an overall revenue performance from the June 2015 acquisition of three former R.J. Reynolds Tobacco Co. brands (Kool, Salem and Winston) and one former Lorillard Inc. brand (Maverick).
"We have made excellent progress in the U.S., with market share gains in our focus brands, Winston and Kool," according to the statement.
Wells Fargo Securities analyst Bonnie Herzog said that as of Sept. 10, ITG's traditional cigarette sales have stabilized in recent months, but were down 1.1 percent over the most recent 12-week period.
Herzog said ITG's market share is at 7.4 percent, according to Nielsen data. ITG officials have disputed Herzog's market share estimations, saying it is closer to 9.3 percent.
More local Walmarts offer online ordering, pickup
Walmart announced Thursday that more of its stores in its Winston-Salem area market will offer online grocery pickup due to customer demand.
The free service will be available in six local stores on Tuesday and will enable customers to order groceries online and pick them up at their local Walmart store.
To use the service, customers order online at www.walmart.com/grocery or through the Walmart Grocery mobile app, enter their zip codes to choose a store and begin creating their shopping lists. During checkout, they choose a time to pick up their orders.
Personal grocery shoppers fill the orders. When customers arrive at the pickup location, there will be reserved parking spaces marked in orange, and a designated number to call to alert an associate, who will retrieve the order and load it into the customer's car.
The local stores that will offer the service starting Tuesday are: Walmart supercenters at 160 Lowes Blvd. in Lexington, 1130 South Main St. in Kernersville and 1585 Liberty Drive, Suite 1 in Thomasville.
The service is currently available at the Walmart supercenters at 4550 Kester Mill Road and 3475 Parkway Village Court, both in Winston-Salem; and the Walmart Neighborhood Market at 3633 Clemmons Road in Clemmons.
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