Finance & Capital Management

DEERFIELD, Ill. — Walgreens on Wednesday reported September sales of $6 billion, an increase of 5.4%. Sales in comparable stores increased 3.1%. The effect of calendar day shifts negatively impacted total comparable sales by 10 basis points.

NEW YORK — Gilt Groupe has announced that Andrew Page has been promoted to the role of president from CFO, effective immediately. Page will report directly to Kevin Ryan, Founder and CEO. In his new position, Page will have operational responsibilities for Gilt's various business units, including Women's, Gilt MAN, Gilt Children, Gilt Home, Gilt Taste, Park & Bond, and Gilt City.

Atlanta -- Aaron's announced that it has reached an agreement to purchase 11.5% of Perfect Home Holdings Limited, a privately-held U.K. rent-to-own company, which operates under the PerfectHome brand.

PerfectHome currently has 45 stores open throughout England and has plans to approximately double the number of stores over the next several years.

New York City -- Saks Fifth Avenue will close its store in downtown Pittsburgh in 2012, the Pittsburgh Tribune-Review reported. The news follows negotiations between the retailer, the store’s landlord and city officials over funding for renovations to the building.

Arlington, Va. -- The Retail Industry Leaders Association (RILA) applauded House Education and the Workforce Chairman Jon Kline for the introduction of the Workforce Democracy and Fairness Act and urged for its speedy passage.

The legislation comes in response to efforts by the National Labor Relations Board (NLRB) to impose several components of the job-killing Employee Free Choice Act (EFCA), a priority of organized labor that failed to gain support in Congress.

New York City -- Prudential Douglas Elliman's Retail Group said it has successfully orchestrated a buy-out/lease disposition at 46 East 57th Street for jewelry house Buccellati, and simultaneously arranged its move to 810 Madison Avenue.

The Milan, Italy-based company has closed the East 57th Street store after more than four decades and will open in a new location on the "Jewel Mile" between 67th and 68th Streets.

Buccellati will take immediate possession of the former Bonpoint store at 810 Madison Avenue.
 

New York City -- Brixmor Property Group announced Tuesday a series of corporate and regional enhancements to its leasing and redevelopment capabilities as it re-focuses on growing portfolio occupancy, strengthening retailer relationships and ramping-up redevelopment efforts.

Timothy J. Bruce has been appointed executive VP, leasing and redevelopment and as a member of the company’s Management Committee.  

Deerfield, Ill. -- Walgreen Co. said Wednesday that its sales increased 5.4% in September, to $5.95 billion from $5.65 billion in the year-ago period.

Pharmacy revenue rose 4.6%, while front end sales were up 5.1%.

Same-store sales rose 3.1%. Wall Street analysts were expecting growth of 4.6%.
 

Raleigh, N.C. -- Economic weakness and low consumer confidence, combined with vendor capacity/reliability, are the top threats to business success this peak season, according to a recent Peak Season Trends and Strategies Survey Report by Tompkins Supply Chain Consortium.

Menomonee Falls, Wis. -- Kohl’s Department Stores’ new store prototype has achieved LEED Gold precertification using the LEED for Retail: New Construction rating system, making Kohl’s the first U.S. company to achieve this designation in the LEED Volume Program. The program, administered by the United States Green Building Council, launched in November 2010.