Strategy

Boca Raton, Fla. -- Office Depot is launching the 2011 Green Business Challenge in partnership with Local Governments for Sustainability USA (ICLEI) and elected officials from across the United States.

Mooresville, N.C. -- Lowe’s will rebuild its store in Sanford, N.C., that was demolished by a tornado April 16, the company announced Thursday.

Lowe’s will tear down what is left of the remaining building, which has been condemned, and build a new facility on the site, said company spokeswoman Karen Cobb. The chain hopes to re-open the store this fall.

Norwalk, Conn. -- Emcor Group, a leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, announced that its Emcor Services Mesa Energy Systems subsidiary has been awarded a contract to perform an energy retrofit project at the Westfield San Francisco Centre, a high-end shopping center in San Francisco.

Naperville, Ill. -- OfficeMax announced that Michael J. Lewis will assume the role of executive VP and president of retail, effective May 2. He will have full responsibility for the retail P&L and all aspects of the retail business, including merchandising, store operations and real estate.

Most recently, from 2010 to early 2011, Lewis served as global head of a merchandising center for Wal-Mart Stores,

New York City -- The high price of cotton is one of the biggest challenges that J.C. Penney Co. faces this year, chairman and CEO Mike Ullman said during a panel discussion at Southern Methodist University, the Dallas Business Journal reported.

Cotton prices in March hit their highest levels in decades after floods in Australia and Pakistan and freezes in China wiped out farmers' crops. That means consumers will see rising clothing prices for the first time in more than 20 years, Ullman said, who predicted increases of 5% to 20%.

New York City -- Members of the largest union local representing Southern California grocery workers gave their negotiators the power to call for a strike if contract talks with major supermarket chains break down, it was announced Thursday. Results for the other locals were not immediately available.

Passage of the strike authorization would not necessarily mean a strike is imminent. Contract talks that began in February are set to resume next week with negotiators for The Vons Cos. Ralphs Grocery Co., a subsidiary of The Kroger Co.; and Albertsons.

New York City -- A western Pennsylvania woman filed a federal lawsuit Wednesday against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

New York City -- More than 60,000 Southern California grocery workers cast their votes on Wednesday whether to authorize a strike if contract talks with three of the nation's largest supermarket chains break down. A two-thirds majority vote was needed for passage.

The talks are with The Vons Cos.; Ralphs Grocery Co., a subsidiary of The Kroger Co.; and Albertsons, owned by Supervalu.

New York City -- Borders is seeking at least $50 million in additional financing as sales trail expectations and publishers demand cash in advance, according to two people who have seen the chain’s plans to reorganize, Bloomberg reported. The bankrupt retailer already has a $505 million debtor-in-possession loan from lenders led by GE Capital.

Borders may risk liquidation without further investment, easier terms from vendors or a buyer, said the people, who declined to be identified because the process isn’t public, the report said.

Chicago -- Teen retailer Claire's Stores provided some hope that discretionary spending is improving by reporting net sales of $421.9 million for the fiscal 2010 fourth quarter, an increase of $11.2 million, or 2.7% compared with the fiscal 2009 fourth quarter. Consolidated same-store sales increased 3.2% in the fiscal 2010 fourth quarter consisting of a 4.7% increase in North America and a 0.6% increase in Europe.