Finance & Capital Management

MEMPHIS, Tenn. — Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

The store is located in Memphis, Tenn., and features a green building design and a spacious layout for an optimal shopping experience, the company reported. 

To commemorate the opening of its 7,000th store in Memphis, Family Dollar completed the celebration with the $7,000 donation to the Mid-South Food Bank, along with cans of food donated by members of the local community. 

Purchase, N.Y. -- A report released Thursday by MasterCard Advisors said that total retail sales in July sustained momentum despite inconsistencies in other areas of the economy.

According to MasterCard SpendingPulse, which tracks national retail and service sales, excluding auto sales retail sales in July 2011 grew by 8.7% year-over-year. 

Retail sales are on par with the average growth of the previous three months.

Wayne, N.J. -- Toys “R” Us said Thursday it has completed a 5.38 megawatt rooftop solar power system at the company’s largest distribution center in Flanders, N.J.

The solar roof is estimated to offset 72% of the electrical needs for the Toys “R” Us facility, making it the largest operational rooftop solar installation in North America.

Woodland Hills, Calif. -- Great American Group said Thursday it has been retained to manage the going-out-of-business sale of all Pierre Deux stores, a French furnishing retailer that operated across 13 states.

Pierre Deux ceased business operations and filed for Chapter 7 bankruptcy protection on June 23.

“The trustee has charged us with selling the company’s inventory in all of the stores,” said Scott Carpenter, executive VP and the head of the Retail Services Division for Great American Group.

Atlanta -- Jones Lang LaSalle announced it has been chosen for 13 new retail services assignments including property management, leasing and accounting services for a variety of owners throughout the United States.

During the first half of 2011, Jones Lang LaSalle has added 22 new retail assignments totaling more than 5.3 million sq. ft. of space.

St. Johns, Fla. -- A week after opening a remodeled store in Apopka, Fla., Winn-Dixie has opened another reformatted store in St. Johns, making it the company's first overhauled location in the North Florida area.

The renovated Winn-Dixie features an expanded grocery department, as well as a deli serving restaurant-quality entrees and side dishes, the retailer said.

Menomonee Falls, Wis. -- Kohl's Corp. reported Thursday that profit for the quarter ended July 30 rose 17% to $303 million, compared with $260 million in the year-ago period. The retailer cited tightened cost controls and success of store-label brands for the improved performance, and has raised its full-year guidance.

Kohl’s said it is on track to open an additional 31 stores this year, as well as remodel another 15 stores next month. The company opened nine and remodeled 85 stores in the first half of the year.

MENOMONEE FALLS, Wis. — Kohl's announced that its board of directors has elected John Schlifske as a new board member, effective immediately. He has been elected to a term expiring at Kohl's 2012 annual shareholders meeting and will be eligible for re-election by Kohl's shareholders at that time. He will initially serve on the board of directors' governance and nominating committee.

NEW YORK — Macy’s chairman, president and CEO is walking on air these days as the nation’s leading department store chain continues to deliver impressive results amid a recessionary economy that has other operators floundering for sales.

By William F. Hauswirth, president of IntelliCorp

You review the resume, conduct the interview, pick the perfect candidate, and make a job offer. Now you have the person start immediately, right? Wrong. What you don’t know about a job applicant can hurt you. It’s not good business practice to hire just anyone who walks through your door. You need to know who they are, and their history. Don’t be a victim of deceit by simply looking at a resume or take someone’s word that they are honest and qualified.