Finance & Capital Management

With Target set to release December sales results this Thursday, the issue isn’t whether the company’s results will be in line with expectations but the degree by which they are likely to exceed same-store sales guidance in the low- to mid-single digit range.

GOODLETTSVILLE, Tenn. - Dollar General announced that in addition to opening 625 new stores in fiscal 2011, it intends to create 6,000 new jobs. 

“Bringing our store model of convenience and value to more people in more states is an exciting opportunity for us,” said Rick Dreiling, Dollar General’s chairman and CEO. “We believe the new communities and states we are entering will benefit from the new jobs, shopping choices and dedication to community found at Dollar General.“

Goodlettsville, Tenn. -- Building on its plans to open 625 new stores in fiscal 2011, Dollar General Corp. announced that it will create 6,000 new jobs. The new stores and jobs will be spread among Dollar General’s existing 35-state operating area, as well as three new states: Connecticut, Nevada and New Hampshire.

In addition to 625 new stores, the company plans to remodel or relocate 550 stores.

Woonsocket, R.I. -- CVS Caremark Corp. said Friday it will pay $1.25 billion to buy Universal American Corp.'s Medicare prescription drug services unit. The deal will more than double the size of the chain’s Medicare drug business.

CVS said it pursued the deal because with the country's population aging, a growing percentage of Americans will get their prescription drug coverage from Medicare.

Executives from The Container Store and Urban Outfitters are among the retailers who will be honored at the National Retail Federation’s Annual Convention and EXPO, or BIG Show, which will be held at the Jacob Javits Center in New York City, Jan. 9-12, 2011.

The recipients will accept their awards during the show’s Annual Retail Industry Luncheon on Tuesday, Jan. 11.

Target.com was second only to Walmart.com in terms of the number of unique visitors its website attracted this holiday season, and as such is well positioned to capture a large share of this year’s record online spending. Total online holiday sales advanced 13% to nearly $31 billion, according to the online measurement firm comScore. For the 56-day period beginning Nov. 1 through Dec.

New York City -- BJ’s Wholesale Club is in the sights of private equity firm Leonard Green & Partners, which may pursue a hostile bid for the chain, according to The New York Post.

The Los Angeles-based buyout firm may make a bid if no auction occurs in coming weeks, the report said, citing an unidentified person close to the situation. BJ’s planned an auction to sell itself after an earlier bid from Leonard Green, according to the newspaper.

Holiday shoppers continued to unleash three years of pent-up demand as the season winds up, on their way to setting a new record of over $521B, blasting through 2007’s pre-recession record of $508 billion, according to Customer Growth Partners. Based on CGP’s proprietary mall surveys and government retail data -- and despite Sunday’s Northeast blizzard -- the sales growth confirmed CGP’s +5% holiday sales forecast. [CGP’s data include e-commerce, unlike NRF, which excludes the same.]