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Kohl's adds stores, nearly 3,000 jobs
The Associated Press via NPR    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Kohl's Corp. is opening 21 stores in 15 states, creating almost 3,000 jobs. The openings come at a time when the U.S. unemployment level remains high and shoppers worried about dismal economic conditions continue to seek out the low-priced clothing and home items that stores such as Kohl's offer. More

Obama says energy policy a top priority next year
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
President Barack Obama said revamping U.S. energy policy would be a top priority next year and may have to be done "in chunks" rather than through one piece of legislation, according to Rolling Stone magazine. In an interview, Obama lamented that more progress to fight climate change had not been made since he took office, and blamed the economy for that failure. "One of my top priorities next year is to have an energy policy that begins to address all facets of our over-reliance on fossil fuels," Obama told Rolling Stone. More

Wal-Mart eyes Africa with $4.6-billion deal
The Economic Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Wal-Mart Stores, the world's largest retailer, plans to buy Massmart Holdings in a transaction worth about $4.6 billion, entering in its biggest deal in more than a decade. Wal-Mart's proposed offer of 148 rand ($21.10) a share would value South Africa's second-largest listed retailer at about 32 billion rand including share options, Massmart chief executive officer Grant Pattison said. The offer price is 9.8 percent higher than Massmart's last closing price and 66 percent above the share price at the end of last year. More

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Exclusive: Sears to open 85 toy shops ahead of holidays
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
U.S. retailer Sears Holdings Corp plans to launch toy shops within 85 of its namesake stores in select U.S. markets next month as it looks for a bigger bite of the holiday sales pie, a senior executive said. The move from the operator of Sears department stores and the Kmart discount chain comes as competition heats up in the toy retail arena ahead of the biggest selling season of the year. More

Office Depot's Boca Raton, Fla., headquarters receive eco-friendly certification
Palm Beach Post    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Office supplies retailer Office Depot Inc. has announced that its headquarters in Boca Raton has achieved a LEED certification for its eco-friendly initiatives. The company's headquarters has received gold-level certification from the U.S. Green Building Council's Leadership for Energy and Environmental Design (LEED) for Existing Buildings: Operations and Maintenance rating system. Its headquarters is the only building in Boca Raton with this particular certification, the company said in a statement. More

Target opens 10 stores on 10/10/10
BUSINESS WIRE via StreetInsider    Share    Share on FacebookTwitterShare on LinkedinE-mail
Target will create more than 2,400 jobs when 10 stores open across the country on Oct. 10, 2010. The stores will offer fresh produce, meat and baked goods and include the latest enhancements to the beauty, home, shoes and electronics departments. "These new Target store openings will help support local economies and make life easier for our guests by creating new jobs, spurring development and providing the utmost in convenience and value," said John Griffith, executive vice president of Property Development, Target. "We are looking forward to deepening our relationship with guests in communities across the country." More

Talbots gains most since March as short sellers
exit bets against retailer

Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Talbots Inc. rose the most since March amid speculation that investors who sold the shares short were covering their bearish bets against the clothing retailer. Talbots gained as much as 13 percent to $12.32, the highest intraday level since June, as of 1:53 p.m. in New York. Short interest in Talbots has increased to 17 percent of outstanding shares as of Sept. 22, from 5.1 percent on April 19, according to Data Explorers, a New York- and London-based research firm that tracks short sales. Companies in the Russell 2000 Index have an 8.3 percent average short interest, Bloomberg data show. More

Malls make way for grocers
Chicago Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
An afternoon at the mall once meant digging through a pile of sweaters at the Gap, trying on shoes at Nordstrom and slurping an Orange Julius at the food court. Now, at a growing number of malls, shoppers can pick up a pound of sliced turkey and gallon of milk as well. Food stores from upscale Whole Foods to discounter Aldi are starting to appear at regional shopping malls. It is a nascent movement. More

Borders to open 25 temporary stores for holiday sales
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Borders, making a push to sell e-readers and books during the holiday season, plans to open 25 so-called pop-up stores in cities like Minnetonka, Minn.; Poughkeepsie, N.Y.; and Scottsdale, Ariz., beginning in early October. Most of the pop-ups will be in malls where Borders once had stores. The company has closed more than 200 stores in the last year, most of which were its smaller Waldenbooks outlets in malls. More

Jack in the Box goes dark in underperforming stores
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Burger chain Jack in the Box said today it is planning to close 40 of its company-operated restaurants by the end of its current fiscal year, which ends Oct. 3. The restaurants slated for closure are in seven states, primarily in the southeast and Texas, the company said. More

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Family Dollar 4Q net income rises, revenue up
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Family Dollar Stores Inc.'s fiscal fourth-quarter profit climbed 23 percent as shoppers attracted by its low-priced products helped boost its revenue. The earnings results beat Wall Street estimates and Family Dollar offered guidance that indicated it could top analysts' forecast for this fiscal year. Its shares jumped $2.26, or 5.2 percent, to $45.60 in premarket trading. More
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