Briefcase

Salvation Army store building up for sale

The building that is home to the Salvation Army Thrift Store is for sale, a move that could lead to a long-term lease for the longtime occupant at 1818 Mass., the building’s agent said Tuesday.

Kelvin Heck, managing broker for Grubb & Ellis/The Winbury Group, said that the 14,500-square-foot building likely would continue as home for the thrift store once the building was sold.

The Salvation Army has been leasing the property on a month-to-month basis for at least two years.

“Their intention is to stay there, but they need to have another owner come in and do some improvements to the building and get a longer-term lease,” Heck said.

People who have called Heck to inquire about the building have indicated a desire to keep the thrift store as a tenant, he said.

Grocer

Kroger reports loss

Kroger Co., the nation’s biggest supermarket chain, reported a $675.9 million loss for its fourth quarter as it wrote down the value of two of its grocery brands, Ralphs and Food 4 Less. Kroger shares fell nearly 5 percent.

Kroger, which has operations in 32 states — including Dillons stores in Lawrence — said Tuesday that the loss of 93 cents a share for the quarter that ended Jan. 29 included an $884 million after-tax charge, or $1.21 a share, for writing down the value of the Ralphs and Food 4 Less operations in southern California.

In the fourth quarter of 2003, Kroger lost $337.4 million, or 45 cents per share.

Kroger stock fell 87 cents, or 4.9 percent, to close at $16.85 in Tuesday trading on the New York Stock Exchange.

Kroger is led by CEO David Dillon, a Kansas University graduate.

Retirement

Delphi to cut health benefits

Delphi Corp., the world’s largest automotive supplier, said it would stop paying medical insurance for 4,000 retired salaried workers in 2007.

Delphi will drop coverage for retirees once they’re eligible for Medicare benefits, which the parts maker will supplement with private health care accounts, the company told employees Monday in an e-mail.

The move is expected to save the company $500 million over several years.

Delphi told employees of the change the same day its shares plunged following downgrades from two major Wall Street investment companies.