Strategy

HOFFMAN ESTATES, Ill. — Kmart is responding to changing trends affecting the "back-to-school" experience with a number initiatives designed to meet the needs of its consumers.

According to Kmart, more public schools are requiring uniforms and others are now adopting a year-round school calendar. In response, Kmart has adjusted its approach to back-to-school by increasing the number of stores that sell uniforms and aligning its back-to-school sales periods by region to match that of the local school districts.

LOS ANGELES — With just 54 stores located throughout California, Arizona, Nevada and Utah, Sport Chalet may not appear to be much of a threat to the bigger sporting goods players, but with growing sales, particularly online, the specialty chain could prove to be something to watch out for.

Hoffman Estates, Ill. -- Kmart is responding to changing trends affecting the "back-to-school" experience with a number initiatives designed to meet the needs of its consumers.

According to Kmart, more public schools are requiring uniforms and others are now adopting a year-round school calendar. In response, Kmart has adjusted its approach to back-to-school by increasing the number of stores that sell uniforms and aligning its back-to-school sales periods by region to match that of the local school districts.

Arlington, Va. -- In letters sent to President Barack Obama and Governor Mitt Romney, the Retail Industry Leaders Association urged both to consider the retail industry’s prominent role in the U.S. economy as they advance their visions for the future.

The letter was signed by Gregg Steinhafel, Target chairman, president and CEO and Sandra L. Kennedy, RILA president. Steinhafel serves as chairman of the RILA board of directors. 

New York -- The Pantry is giving its stores a makeover. The chain will remodel 10% of its store portfolio, or approximately 160 locations annual, until it completes the job, said Pantry president and CEO Dennis Hatchell on the company’s third-quarter sales call.

The remodeling program will be store specific, according to Hatchell. He said the chain now has the scan data to execute a customized store set, and that it has a series of distinct demographic types.

New York -- Ralph Lauren Corp. said that its net income rose 5% in its first quarter, but the company forecast a revenue decline in the current quarter and sounded a note of caution about the weak global economy hurting consumer spending.

"The outlook for consumer spending and global economic growth remains challenging and we are planning our business accordingly," said CEO Roger Farah.

Net income from April through June was $193.4 million, up from $184.1 million a year ago.

Cincinnati -- Macy's reported a nearly 16% increase in net income for its second quarter as the chain benefited from cost controls and its ongoing strategy of tailoring its fashions to local markets. The company said it was raising its full-year profit forecast.

Macy's net income rose to $279 million for the three-month period ended July 28, up from $241 million in the year-ago period.

Seattle -- Mobile payments took another step forward with the announcement that Starbucks Coffee Co. has entered into a partnership with Square, a mobile-payment start-up. Starbucks will invest $25 million in Square -- part of the latest round of financing -- and Starbucks chairman, president and CEO Howard Schultz will join Square’s board of directors. Square was founded in 2009 by Jack Dorsey, creator of Twitter.

Costa Mesa, Calif. -- Donahue Schriber announced the acquisition of its third grocery-anchored shopping center in the last two months. The company reported the close of escrow on Del Mar Heights Village Center in San Diego County, Calif., which follows the acquisitions of Four Corners Shopping Center in Washington State and Bonita Centre, also in San Diego County.

Elmwood Park, N.J. -- Marcus & Millichap Real Estate Investment Services said it has promoted David E. Thurston to associate VP investments.

Most recently, Thurston held the title of senior associate in the New Jersey office. He began his career at Marcus & Millichap in 1999 as the regional manager of the New Jersey office.