Strategy

By Jason Hamilton, [email protected]

Washington -- The National Retail Federation released the following statement from President and CEO Matthew Shay on the re-election of President Obama:



Cincinnati – Macy’s on Wednesday reported a better-than-expected 4.3% increase in third-quarter net income, helped by sales gains, and slightly raised its full-year profit outlook.  

Macy’s also announced that it will discontinue reporting monthly sales, beginning in fiscal 2013. Sales will continue to be reported quarterly, along with earnings and cash flow.

Spanx, the company best known for its shapewear and hosiery, has opened its first-ever freestanding location, in Tyson’s Corner Center, McLean, Va.

CHICAGO — OfficeMax has named Kim Feil as EVP and chief marketing and strategy officer, effective Nov. 12. Feil will report to Ravi Saligram, president and CEO of OfficeMax, and will have accountability for all aspects of marketing across the enterprise, with particular emphasis on brand management and evolution of the company's traditional marketing vehicles to new media including digital and social.

If the economy is improving someone forgot to tell Office Depot’s customers. The company reported a third quarter loss of $70 million loss on sales that declined 5% to $2.7 billion.

TORONTO — Ahead of its 2013 debut, Target is building its presence in Canada with a new partnership with the Toronto Fashion Incubator for the annual TFI New Labels Fashion Design competition celebrating and supporting up and coming Canadian designers. 

The winner will receive $25,000 and the chance to create an exclusive collection to be sold in Target stores across Canada in 2014.

Third quarter sales at OfficeMax declined 1.7% to $1.74 billion and same store sales dropped 2.1% due to weak demand for office products.

WOONSOCKET, R.I. — Coming off a strong third quarter, CVS Caremark executives expressed confidence that the company’s integrated retail/pharmacy benefit manager model and the unique programs and services it is able to deliver customers and clients are “making the difference,” president and CEO Larry Merlo told analysts during a Tuesday morning earnings call.

NEW YORK — Beauty company L'Oréal Paris has recognized the charitable work of 10 women — including Montgomery County district attorney Risa Vetri Ferman, the cofounder of Mission Kids Child Advocacy Center — by distinguishing them as "Women of Worth" and giving them $10,000 each for their individual charities.