Finance & Capital Management

New York -- Best Buy Co. is laying off about 650 employees from its Geek Squad division, according to a report by KARE 11.

The report said the company is eliminating positions that service appliances and televisions in customer's homes. Best Buy said it is not getting rid of home service, but is restructuring it and realigning its work force across all service channels.

If laid off workers are unable to find another position within Best Buy, their last day will be Aug. 1, the report said.

ARLINGTON, Va. — The Retail Industry Leaders Association is urging President Obama and his administration to release proposed healthcare regulations that will affect nearly 170 million Americans currently receiving employer-sponsored health coverage.

New York -- Disappointing same-store sales results in June weren’t necessarily unexpected, as the month typically trends weaker as shoppers have fewer reasons to shop.

Thomson Reuters, which polls 18 U.S. retail chains, projected its Same-Store Sales Index to inch up 0.5% in June, far below last year’s 6.7% rise for the month. Analysts have said that warm weather may have prompted consumers to make summer apparel purchases earlier than usual, shifting sales from later months like June.

New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts.

Greensboro, N.C. -- High-end grocer The Fresh Market is making a stand in California, as it prepares to open its first three stores in the state.

According to a Tuesday report by Investor’s Business Daily, Fresh Market has signed leases and begun construction on one store in Santa Barbara, one in Palo Alto and a third in Roseville. The grocer said it expects to open its first store in the state either late this year or early 2013.

NEW YORK — Disappointing same-store sales results in June weren’t necessarily unexpected, as the month typically trends weaker as shoppers have fewer reasons to shop.

Thomson Reuters, which polls 18 U.S. retail chains, projected its Same-Store Sales Index to inch up 0.5% in June, far below last year’s 6.7% rise for the month. Analysts have said that warm weather may have prompted consumers to make summer apparel purchases earlier than usual, shifting sales from later months like June.

DEERFIELD, Ill. — Walgreens will acquire 144 stores operating under USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse banners in an agreement valued at approximately $438 million.

Deerfield, Ill. -- Walgreen Co. has entered into an agreement to acquire Stephen L. LaFrance Holdings Inc., the owner and operator of the USA Drug chain, for about $438 million, gaining stores in several Southern states. The acquisition comes on the heels of Walgreens’ announcement that it was buying a 45% stake in Alliance Boots GmbH for $6.7 billion last month to expand globally.