Strategy

From win-win to lose-lose. Do enough deals with different celebrities and sooner or later one of them is bound to blow up. That’s what happened to Target last week when entertainer/singer/gay rights advocate Lady Gaga had a change of heart regarding a prior commitment with Target.

Ann Arbor, Mich. -- Borders Group is expected to announce that another 75 stores will be closed.

Mike Edwards, president, in a conference call said that the additional store closings would come from a group of 140 "bubble stores" that had already been identified for possible closings.

The bookseller previously said it would close 200 stores when it announced it had filed for Chapter 11 bankruptcy on Feb. 16. At the time, the retailer said another 75 could be closed. The new round of stores has not yet been identified.

Walker, Mich. -- Meijer announced Monday it will invest $75 million to remodel 10 stores in Michigan and Ohio.

Eight of the stores slated for renovation are in Michigan and two are in Ohio.

“We are pleased to reinforce our commitment to these communities,” said CEO Hank Meijer. “Our customers expect high standards from us, and our investment in these stores will ensure they continue to receive our best.”

New York City -- The Deloitte Consumer Spending Index, released Monday, rose in February, driven primarily by the slight improvements in real home prices and initial jobless claims, according to the company.

The Index attempts to track consumer cash flow as an indicator of future consumer spending.

Fort Myers, Fla. -- Chico’s FAS announced Monday that it has named Celia Rao Visconti as senior VP of marketing.

She will report directly to Cinny Murray, brand president of Chico's, and will oversee the brand's marketing strategy and initiatives. 

Rao Visconti was previously executive VP and chief marketing officer for New York & Co.

Matthews, N.C. -- Family Dollar today showed why dollar stores are such a hot commodity right now by reporting a comparable-store sales increase of 5.1% for the second quarter ended Feb. 26. Net sales for the quarter increased 8.3% to $2.26 billion, from $2.09 billion last year. According to the company warmer weathr earlier in the year as well as strong performance in its consumable and seasonal categories helped drive sales.

Product assortments have been restored, feature displays are back in most store aisles, and now Walmart is looking to restore sales growth with a new ad campaign beginning next month that reacquaints shoppers with the company’s core value proposition.

Completion of a previously announced acquisition combined with organic growth will result in the addition of 168 stores to Asda’s existing 386 units and push Walmart’s U.K. division past the 500-unit mark.

The retail industry is abuzz these days with talk of small format stores; whether it is Best Buy Mobile, CityTarget or now Walmart Express. Bill Simon, president and CEO of Walmart U.S., added more fuel to the fire this week with comments about several 15,000-sq.-ft. test stores that would open during the second quarter in rural and urban locations. Simon also introduced the prospect of rapid organic growth and potential acquisitions even though the first stores have yet to open.

DEERFIELD, Ill. — Walgreens has expanded Joseph Magnacca's role at the drug store chain by appointing him president of daily living products and solutions.