Strategy

MINNEAPOLIS — Richard Schulze has moved one step closer to achieving his goal of acquiring Best Buy. The company has agreed to let its founder and former chairman access to certain due diligence information and form an invesment group so that he may continue his efforts to attempt to buy the company.

Certain locations present unique challenges when it comes to building and maintaining stores, and Hawaii qualifies in both instances. Ryno Irwin, CEO of Hawaii Retail Services, Makaha, Hawaii, spoke with Chain Store Age about logistics and demographics challenges in the Aloha State.

York, Pa. -- The Bon-Ton Stores Inc. said that it plans to close its Carson's store in the River Oaks Mall in Calumet City, Ill., when the lease expires in January. 

The department store company said doesn't expect costs tied to the closing to be material.

Bon Ton received the leasehold interests in the store as part of its Northern Department Store Group acquisition in 2006.
 

By Jim Hogan, [email protected]

The retail industry is a bellwether for U.S financial health given that consumer spending is roughly 60%-70% of the economy. While the economy has sent mixed signals of late -- consumer confidence down, unemployment up -- consumer credit has swung up decidedly and leading companies in a wide swath of retail segments can point to positive year-over-year same store sales. This is prompting some retailers -- particularly discount stores--to begin opening new stores.

MATTHEWS, N.C. — Family Dollar Stores has named Holly Shaskey-Platek to the position of SVP merchandising. She will lead the home, apparel and seasonal divisions and report to Paul White, EVP, chief merchandising officer.

New York -- Walgreens will launch a loyalty card on Sept. 16, Reuters reported.

The move follows the chain’s long insistence that it did not need a loyalty card, even as rival CVS Caremark Corp. and Rite Aid Corp had their own successful well-established programs. The CVS ExtraCare loyalty program claims more than 70 million households as members.

Seattle -- Nordstrom Inc. will open its outlet format Nordstrom Rack at The Newbury in Boston’s Back Bay area.

The two-level, 38,000-sq.-ft. store is scheduled to open in spring 2013. It will replace the former Filene’s Basement space.

Currently, Nordstrom opens four full-line stores and four Nordstrom Racks in the Boston market.
 

MINNEAPOLIS — Nash Finch Company, a Minneapolis-based food distributor, has joined with Leevers Foods, a North Dakota based grocery operator,  to provide funding for resource rooms for the Devils Lake, ND School District and St. Joseph’s Elementary School. The resource rooms will be fully operational and available to students when school starts this year, and each room will be equipped with 10 iPads. The two companies are also establishing and an annual scholarship, The Leevers Family Scholarship Fund.