Strategy

New York -- A San Diego judge ordered Rite Aid Corp. and its California subsidiary Thrifty PayLess Inc. to pay $800,000 to settle a complaint alleging false advertising, the Associated Press reported.

Prosecutors claimed Rite Aid led consumers to believe they would pay less for items bought using the company's Wellness Card, the report said. However, they were given a coupon and told it was for a future purchase that would expire and was subject to other restrictions.

Bentonville, Ark. -- Walmart is expanding its Centers of Excellence program to offer its associates health care with no out-of-pocket cost for heart, spine, and transplant surgeries at six of the nation’s leading hospital and health systems.  

MISSISSAUGA, Ontario — Walmart Canada is stepping up its presence in the country this month with the opening of the most stores in the company's history.

By the end of October, the company will complete 30 real estate projects. They include two supercenter conversions and 28 new stores, which were formerly Zellers stores. Of the 28 Zellers locations, 10 will be supercentres and 18 will be discount stores. The 30 stores employ more than 3,000 associates and represent an addition of nearly 2.4 million square feet of retail space.

CINCINNATI and WAYNE, N.J. — Macy’s and Toys"R"Us -- likely the two retailers most associated with Christmas -- have joined together for a unique retail partnership.

MINNEAPOLIS — More unsettling news from Best Buy this week, as the company announced the departure of EVP and CFO Jim Muehlbauer.

Muehlbauer, who joined the company in 2002, will support the company through 2013 as it searches for a new finance chief.

ISSAQUAH, Wash. — Costco reported fourth-quarter sales of $31.52 billion, an increase of 14% from $27.59 billion for the same period last year.

Net income for the quarter was $609 million, or $1.39 per diluted share, compared with $478 million, or $1.08 per diluted share, during the fourth quarter of fiscal 2011.

Comparable-store sales, excluding fuel, rose 6% at U.S. stores, 7% internationally and 6% for the total company.

FOOTHILL RANCH, Calif. — The Wet Seal has named four new members to its board of directors and Lynda Davey as chairman of the board.

The new members, who joined effective Oct. 4, include: Dorrit Bern, Lynda Davey, Mindy Meads and John Mills.

TOPEKA, Kan. — Payless Holdings has named Paul Jones as CEO. Jones was most recently chairman, president and CEO of Shopko Stores, a $2.7 billion mass merchandiser providing quality products and health services at great values in small to mid-sized markets. Jones will be based in Topeka and will join the company in an official capacity on Oct. 22.
 

WATERBURY, Vt., and PLANO, Texas — Green Mountain Coffee Roasters announced that Dr Pepper Snapple Group's Snapple iced teas soon will be available in K-Cup and Vue packs for GMCR's Keurig single-cup brewing systems.

GMCR and DPS said Snapple K-Cup pack iced teas will be offered in a variety of at-home and away-from-home channels for Keurig brewer consumers in the United States and Canada in spring 2013. Vue packs will debut later next year.

BENTONVILLE, Ark. — Walmart plans a modest acceleration of its small format stores in the coming years as investors were assured Wednesday morning that financial returns are now comparable with the company’s large supercenters.