Finance & Capital Management

Chicago -- Charming Charlie said Tuesday it has selected ShopperTrak to measure, analyze and deliver store-performance data for its nearly 200 locations.

ShopperTrak's Managed Service, which provides access to secure and anonymous foot-traffic data and actionable analyses, is currently being installed in all Charming Charlie stores and will continue through November 2012.

DEERFIELD, Ill. — Walgreens on Tuesday posted May sales of nearly $6 billion, a decrease of 1.6% as compared with the same month in fiscal year 2011.

By William Gindlesperger, [email protected]

Innovation is required if the United States is to regain the level of productivity that it enjoyed toward the end of the 19th Century through the mid-20th Century. However, innovation by itself is not enough. Just as our parents and grandparents adopted electricity, the automobile, credit cards and airplanes in the period from 1870-1950, businesses and organizations of the 21st Century must embrace change.

New York -- Brooks Bros. Group and Reliance Brands Limited announced Tuesday the formation of a joint venture company in India.

Reliance Brands, a division of Reliance Industries Group, will use its local connections to bring the American brand to India.

Naples, Fla. -- Tampa, Fla.-based RMC Property Group said that Naples Towne Centre property, located in Naples, Fla., has just completed a major renovation project, which included a complete restoration of the façade, and a makeover of the landscaping, parking lot and exterior lighting. The owner, Buckingham Properties, utilized the design services of local architect, Don Stevenson Design.

GOODLETTSVILLE, Tenn. — Surging profits and a 6.7% first quarter same-store sales increase prompted Dollar General to raise its full-year profit forecast by three cents.

Dollar General shows no signs of slowing down this year after posting first-quarter results that saw the company’s total sales increase 13% to nearly $3.5 billion and net income increase 36% to $213 million. The 6.7% comp increase was driven by an increase in customer traffic and average transaction size, according to the company.

Seattle -- Eddie Bauer announced Tuesday that Michael R. Egeck has been named its president and CEO, replacing interim CEO David Chamberlain who will remain a member of the board.

Egeck was most recently CEO of Hurley International, a division of Nike. He has also served as president of True Religion.

Minneapolis -- Christopher & Banks Corp. reported Tuesday a loss of $13.4 million, compared with a loss of $8.2 million in the year-ago period.

Net sales dropped to $93.6 million, from $110.4 million in the comparable period last year. Same-store sales decreased 15%.

“Our financial results reflect continued customer resistance to the residual merchandise assortment that consisted of styles that were too updated and priced too high while lacking in key categories,” said Joel Waller, president and CEO.