Strategy

Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that profit for the quarter ended May 26 rose 12.1% to $124.5 million, compared with $111.1 million in the year-ago period.

Sales increased 9.6% to $2.36 billion, just missing Wall Street’s forecasts of $2.37 billion in sales. Same-store sales climbed 5%.
   

New York -- The U.S. Supreme has just ruled that, while the individual mandate to buy health insurance is unconstitutional, this key part of President Obama’s signature healthcare law can stay as part of Congress’s power under a taxing clause.

In other words, the Supreme Court says that the government will be allowed to tax people for not having health insurance.

MINNEAPOLIS — Food distribution company Nash Finch has named Gary Spinazze as chair of the NFC Foundation for a two-year term. The NFC Foundation is the charitable giving arm of Nash Finch. Board member Paula Docken, business analyst, chair of the community outreach committee was named as chair elect.

Launching new products is difficult in the best of times, but winners of the 2012 Nielsen Breakthrough Innovation Award found ways to succeed during one the worst recessions in a generation.

Nielsen announced recipients of the awards at its annual Consumer 360 event in Hollywood, Fla., this week after analyzing more than 11,000 new products in the United States between 2008 and 2010. Of the products evaluated, only 34 met award criteria. These products comprise less than 0.5% of all new product introductions during the period.

DALLAS — Davaco, a provider of turnkey implementation solutions for national brands, has named Tim Currier VP business development.  In this role, Currier is responsible for identifying new business opportunities and building strategic partnerships with nationwide retail, restaurant and hospitality brands. He reports to Paul Hamer, EVP business development for Davaco

REDMOND, Wash. — Lowe's is engaging the services of Microsoft to help improve customer service. The company has agreed to implement Microsoft Office 365 across more than 1,745 stores, 200,000 employees and its corporate offices in the United States, Canada and Mexico.

Office 365 will help the home improvement retailer improve customer service by providing collaboration tools to increase communication among its stores and employees.

MINNEAPOLIS — Best Buy, which at its recent shareholders' meeting said it would offer more technology services, has announced that it is expanding the Best Buy Mobile brand and store-within-a-store concept into 14 Five Star stores throughout Nanjing, China, this summer.

The expansion of Best Buy Mobile into the Chinese market is the first evolution of Global Connect, a partnership that was formed in November 2011 between Best Buy and Carphone Warehouse.

Goodlettsville, Tenn. -- Dollar General Corp. said Wednesday it is offering $450 million in senior notes due in 2017.

The retailer said it plans to use the proceeds, along with cash on hand and possible other borrowings, to redeem its outstanding senior unsubordinated notes.

Citigroup, Goldman, Sachs & Co. and KKR are serving as joint book running managers for the offering. BofA Merrill Lynch, Barclays, J.P. Morgan, Wells Fargo Securities, Fifth Third Securities, HSBC, KeyBanc Capital Markets, and US Bancorp are co-managers.

Redmond, Wash. -- Microsoft said Wednesday that Lowe's Home Improvement is engaging its services to help improve customer service. The retailer will implement Microsoft Office 365 across more than 1,745 stores, 200,000 employees and its corporate offices in the United States, Canada and Mexico.

Office 365 will help Lowe’s improve customer service by providing collaboration tools to increase communication among its stores and employees.

Woonsocket, R.I. -- CVS Caremark has announced the appointment of Stephen Gold as chief information officer.

Gold, who joins CVS Caremark on July 9, will focus on bringing new and differentiating technology solutions to the company's retail and pharmacy benefit management businesses.

Gold joins CVS Caremark from Avaya, where he held the position of CIO. Prior to that, he served as the CIO and chief technology officer for the e-commerce solutions provider GSI Commerce.