Strategy

Deerfield, Ill. -- Walgreens is expanding its presence in Chicago, and adding 600 new jobs in the process. Under its new "Chicago Hometown Investment Initiative," the drugstore chain plan to expand its downtown office space, add new stores and remodel up to 142 existing units.

Former and short-time Walmart executive Robert Atencio is among a group of marketers slated to interview former P&G chairman and CEO A.G. Lafley during an event called Shopper Insights in Action. The 11th annual event is billed as a riveting brainstorming session in which the former P&G head will share thoughts on the future of research, marketing, retail and the evolution of the changing consumer. Atencio, who formerly served as VP insights and customer strategy at Walmart, is currently VP global insights at Pfizer Consumer Healthcare.

Dallas -- A survey released by Lucernex Technologies that polled the National Retail Tenants Association members about preparedness for the upcoming FASB changes found that, for the most part, retailers are generally not ready for the new rules to take effect.

In the NRTA membership survey “FASB Preparedness in the Retail Industry,” five key findings were revealed:

MINNEAPOLIS — Supervalu announced that Matt Rubel will stay on as a member of its board of directors, despite his retirement from Collective Brands.

Rubel retired as chairman, president and CEO of Collective Brands earlier this month. Per Supervalu's governance principles, he submitted his offer of resignation as a member of the board of directors. On June 28, the company’s Board of Directors unanimously rejected his offer of resignation.

New York City -- Centro Properties Group announced the recent lease execution for two Ulta stores; an 11,000-sq.-ft. store will be joining Lakes Crossing, located in Muskegon, Mich., and a 10,895-sq.-ft. store will open at Florence Square, directly across from Florence Mall in Florence, Ky.

New York City-based Centro Properties Group owns both shopping centers.
 

Teen apparel retailer rue21 is celebrating the opening of its 700th store, in New Braunfels, Texas. The chain is on track to open 110 locations this year. Commented president and CEO Bob Fisch: “We remain one of the fastest growing retailers in the nation. I would like to thank our real estate, construction and field teams and recognize their hard work, which allows us to celebrate another significant milestone for rue21."
 

Washington, D.C. -- The National Retail Federation said Thursday that it is disappointed in the final debit card swipe-fee regulations set by the Federal Reserve.

Under the new rule, the current debit card swipe-fee rate of 1%-2% of each transaction will be replaced with a flat fee of not more than 21 cents per transaction for the nation’s largest banks -- substantially higher than the flat fee of up to 12 cents the Fed originally proposed in December 2010.

Minneapolis -- Christopher & Banks Corp. reported Thursday that net income for the quarter ended May 28 was $1.9 million, compared with $6.3 million in the year-ago period.

Sales dropped to $123.8 million, from $126.2 million a year earlier. Same-store sales dipped 2%.

The retailer said it plans to open 31 new stores and close 35 existing stores in fiscal 2012.