Strategy

Deerfield, Ill. – Same-store sales at both Walgreens and Rite Aid increased in June, compared to the same period a year earlier. Same-store sales grew 7.5% at Walgreens and 3.9% at Rite Aid.

Calendar day shifts helped boost same-store sales at Walgreens, while the introduction of new generic drugs had a negative impact. In addition, Walgreens had June sales of $6.28 billion, an increase of 8.9% from $5.77 billion for the same month in fiscal 2013.

New York -- Online menswear brand Bonobos has raised a total of $55 million in venture capital funding, bringing the brand's total funding to $128 million. The company plans to use a large part of the latest investment to quadruple its physical store count, growing from 10 locations to 40 nationwide by 2016, The New York Times reported.

Ikea has partnered with Feeding America, the nation's largest domestic hunger-relief organization, to sponsor an in-store program that supports national children's hunger programs.

These programs include giving free meals and snacks to low income children, as well as giving out nutritious easy-to-prepare food for children to take home on weekends, in addition to other programs to meet the needs of hungry children.

New York -- A physical store presence is key to most retailers for their online growth strategy, according to a new report by Moody’s Investor Services. Based on existing data, Moody’s estimate online sales as a percent of total retail sales are just 6% today, and will increase to 7.1% by 2016, and potentially reach a double-digit (mid-teens) share of the total retail sales pie in about five years.

Chicago – Cardtek Group, a provider of software for financial transactions and EMV migration, is launching Cardtek USA. The company’s North American headquarters, based in Chicago, will facilitate the U.S. adoption of Europay-MasterCard-Visa (EMV) technology in an effort to help prevent credit card fraud and data breaches.

Dublin, Calif. - Ross Dress for Less will open three new stores in Indiana on July 19. The stores include Waterford Park South Shopping Center in Clarksville, Shops on Main in Schererville, and Erskine Village in South Bend.  
    
These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

Dublin, Calif. — dd’s DISCOUNTS, a division of Ross Stores, will open a new store in downtown Portland on June 28^th in a former Ross Dress for Less location. Counting the new location, dd’s DISCONTS will operate over 140 locations in 13 states. The retailer is on schedule to open approximately 20 locations in 2014.

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.