Strategy

New York -- Shares of Sears Holdings were under heavy selling pressure Thursday morning, sliding 7% to $53.38 on Standard & Poor's. S&P plans to remove the chain from its S&P 500 Index because the chain’s public float has has been below the index's 50% threshold for an extended period of time.

The Sears' name, in one form or another, has been in the S&P 500 since it was created some 55 years ago. Sears will be removed from the index at the close of trading on Sept. 4. The retailer will be replaced by chemical maker LyondellBasell.

New York -- Whole Foods Market is in talks to buy or take over leases for half a dozen Johnnie’s Foodmaster locations in eastern Massachusetts, the Boston Globe reported.

Whole Foods wants to move into six of the 10 Johnnie’s Foodmaster sites in Arlington, Brookline, Charlestown, Melrose, South Weymouth, and Somerville, the report said.

Whole Foods currently operates 21 stores in Massachusettes.

 

A back-to-basics approach in Walmart’s apparel department has enabled the company to produce a modest degree of sales growth, but other value players are delivering high single digit comps.

Walmart reported its second consecutive quarter of positive same store sales in the apparel category during the second quarter when it produced a low single digit gain.

Ross Stores and The TJX companies both reported a better-than-expected 8% same store sales increase during August. Shoppers continued to beat a path to Ross and TJX stores during August where exceptionally strong sales suggest consumers are unrelenting in their search for value amid protracted economic weakness.

Mike Kahn, director of Alpha Camera Systems for Sony Electronics was named special advisor to the board of PMA, the Worldwide Community of Imaging Associations.

The move is long overdue for an 86 year old organization focused on serving the needs of the imaging industry as Kahn’s appointment marks the first time a manufacturer representative was named to a PMA executive committee.

"Come grow with us," could have been the title of the presentation Sam’s Club EVP of merchandising Charles Redfield gave earlier this week at the Grocery Manufacturers Association’s annual executive conference.

New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday denied Macy's Inc.’s attempt to block J.C. Penney Co. from proceeding with plans to sell a number of Martha Stewart Living Omnimedia home goods products in its stores.

In January, Macy’s sued Martha Stewart Living to stop it from executing a sales agreement with J.C. Penney. Macy’s claimed it had the exclusive right to sell Martha Stewart products in certain categories,  including bedding and cookware.