Strategy

River Grove, Ill. -- Chuck Follett, president and CEO of Follett Corp., announced his decision to retire after 38 years of service with the company. Follett is the leading operator of college bookstores, and also a major distributor of physical and digital educational materials and services to primary, secondary and university level institutions.

Follett’s board of directors has initiated a search for Follett's successor. Follett will remain the company's president and CEO until a successor is identified.

Minneapolis -- Christopher & Banks Corp. announced that its board of directors approved a change in the company’s fiscal year-end to the Saturday nearest to the end of January, rather than the Saturday nearest to the end of February.

The retailer said the change, which is effective for the company’s current fiscal year, will provide certain benefits, including aligning its reporting periods to be more consistent with that of other specialty retail companies.
 

Bentonville, Ark. -- Walmart is expanding the services it offers at tax time to include free in-store federal Form 1040EZ filing.

The chain has partnered with Jackson Hewitt and H&R Block to double its in-store tax kiosks and lower the cost for tax preparation services. Jackson Hewitt will offer free federal Form 1040EZ filing at its Walmart kiosks throughout the tax season, and H&R Block will offer a free federal Form 1040EZ until Feb. 29.

MATTHEWS, N.C. — Momentum remains on the side of Family Dollar, as the company late Thursday reported another quarter of record sales and profits and the opening of 101 units, which included its first stores in California.

Family Dollar reported quarterly results after the market closed Thursday and offered a reminder why Walmart suppliers who participated in last month’s Connecting Northwest Arkansas Supplier Survey ranked dollar stores as the greatest competitive threat to Walmart in the next five years.

Want to see what increased government regulation and its impact on business looks like? For a review of a new supply chain law in place in California and the reporting requirement it will impose on retailers, click here. 

Just when it looked like Walmart shares might be ready to make a run earlier this week after poking above $60 for the first time in more than three years, along came Target to spoil the party.

CHICAGO — Galleria Retail Technology Solutions, a provider of retail and category optimization solutions, has announced that grocer A&P has chosen Galleria to help optimize its merchandising strategy and improve the customer experience within its more than 300 Northeast and Mid-Atlantic stores.

A&P will roll out several of Galleria’s solutions throughout its family of supermarkets.

MINNEAPOLIS — Target has disclosed the location of its first 24 stores in Canada. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.

Target plans to open stores in the following locations in March/early April 2013:

• London Westmount, Westmount Shopping Centre

• Kawartha Lakes, Lindsay Square Mall

PHOENIX — PetSmart CEO Robert Moran has taken on the additional role of chairman of the board, the company announced Friday. Moran has been the company's president and CEO since 2009, and served as president and COO from 2001 to 2009. Phil Francis, previously executive chairman, will remain a member of the board.