Strategy

The nation’s capital tops a list of the healthiest retail markets for 2011. The ranking, “ChainLinks/Terranomics Retail Power Rankings for 2011,” is based on the general overall health of a marketplace and includes such factors as overall economic indicators, income growth, ongoing construction, rental rate trends, and the amount of retail demand in the market.

Boston -- Gordon Bros. Group said Tuesday it has named Leonard R. Polivy as managing director in the Retail Division.

Polivy began his jewelry career with Gordon Bros. in the mid-1980s and then went on to become president of a wholesale diamond company. He also held other management positions and worked on valuing and restructuring clients within the jewelry sector before returning to Gordon Bros. in 2009.

Deerfield, Ill. -- Walgreen Co. reported Tuesday that net income for the quarter ended Feb. 28 rose to $739 million, compared with $669 million in the year-ago period. However, gross profit margin remained flat at 28.8%, disappointing Wall Street, which expected more from the drugstore operator.

Revenue climbed 9% to $18.5 billion. Same-store sales and prescription sales each rose 4%.

MISSISSAUGA, ONTARIO -- TB!S The Bargain Shop, a leading Canadian discount store chain, announced that Beryl Buley has been appointed president and CEO, effective immediately. Former president and CEO, Michael Roellinghoff, will assume the role of vice chairman of the board.

CINCINNATI -- Macy's Inc. announced that it will make a corporate contribution of $100,000 in cash to the American Red Cross for earthquake and tsunami relief on behalf of Macy's and Bloomingdale's associates across America. In addition, the company said it will match, on a dollar-for-dollar basis, all employee contributions of $25 or more to the American Red Cross and other U.S.-based organizations providing rescue and relief assistance in Japan. 

Foothill Ranch, Calif. -- The Wet Seal announced Monday that it has hired Ken Seipel as president and COO, effective March 28.

Seipel will report to CEO Susan P. McGalla.

Seipel was previously president and chief merchandise/marketing officer of Pamida Discount Stores LLC, a regional general merchandise discount retailer. Prior to that, he was executive VP of stores, operations and store design for the Old Navy division of Gap.

GOODLETTSVILLE, Tenn. -- Though Dollar General's fourth-quarter sales growth came in at slightly below analysts' expectations, the company is still considered a good investment.

City of Industry, Calif. -- Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.

The move came two weeks after the company announced a fourth-quarter net loss, reversing a profit from a year ago, as revenue slipped by 1%.

According to the retailer, McLaughlin will continue to assist in the transition over the next three months.