Business news briefs: Giant Eagle going west

Share with others:

Print Email Read Later


Giant Eagle is making a move into the greater Indianapolis market. The O'Hara grocer has signed an agreement to put one of its upscale Market District grocery stores along with a GetGo convenience store in Carmel, Ind. The company has about 420 retail locations in Pennsylvania, Maryland, West Virginia and Ohio.

Steak & Lube expanding

Sharon-based Quaker Steak & Lube expects 11 new restaurant openings in 2014, following eight last year. New markets for the casual-dining franchise chain with 60-plus locations will be in Louisiana, Michigan, Nebraska and Tennessee.

Freedom agency broadens

Freedom-based fundraising agency TrueSense Marketing has acquired Scott Wilder Productions in a move meant to help the agency reach donors better through broadcast channels, and to integrate broadcast with other online and offline media.

Local earnings

* Federated Investors reported lower earnings for the fourth quarter and for all of 2013 as the Pittsburgh investment manager waived more money fund fees to keep investors whole. Fourth quarter earnings totaled $41.1 million, or 39 cents per share, vs. earnings of $49.6 million, or 44 cents per share, in the year-ago quarter. Revenue fell 12 percent to $214.7 million. Federated said waiving money fund fees reduced pretax earnings by $29.3 million vs. $15.5 million in the year-ago quarter. For 2013, Federated reported net income of $162.2 million, or $1.55 per share, vs. 2012 earnings of $188.1 million, or $1.79 per share. Revenue fell 7 percent to $878.4 million.

•Matthews International Corp. reported first quarter net income of $7.9 million, or 29 cents per share, compared to $8 million, or 30 cents per share, for the first quarter last year. The North Shore company fell short of analysts' expectations of 39 cents a share. First quarter sales were $229,945, compared to $225,609 a year ago.

* Apollo Bancorp Inc. reported net income for the fourth quarter rose 17 percent, to $413,000, or 83 cents per share, compared with $353,000, or 71 cents, in the same period a year earlier. For all of 2013, net income was $1.4 million, or $2.82 per share, up 7 percent from $1.3 million, or $2.63, in 2012.

Toyota still tops in sales

Toyota remained the top-selling automaker for a second year in a row, beating U.S. rival General Motors by some 270,000 vehicles in 2013, and set an ambitious target to sell more than 10 million vehicles this year. Toyota Motor Corp. said Thursday it sold a record 9.98 million vehicles worldwide last year, up 2 percent from the previous year. General Motors Co. sold 9.71 million vehicles last year.

Join the conversation:

Commenting policy | How to report abuse
To report inappropriate comments, abuse and/or repeat offenders, please send an email to and include a link to the article and a copy of the comment. Your report will be reviewed in a timely manner. Thank you.
Commenting policy | How to report abuse


Create a free PG account.
Already have an account?