Strategy

Ann Arbor, Mich. -- Borders Group said Monday that it is selling its kiosk business Day by Day Calendar Co. for an undisclosed sum.

The sale involves 420 kiosk retail outlets, which will be purchased by Calendar Holdings LLC, based in Texas.

According to the Detroit News, the sale could provide Borders with cash while the company works with creditors to restructure its debt.

Orange, Va. -- Walmart’s next step to open a Supercenter near Wilderness Battlefield in Orange, Va., goes to court Tuesday, as Orange County Circuit Judge Daniel R. Bouton is scheduled to hear arguments on requests for summary judgments from attorneys in the case.

If the trial moves forward, a preservation group and local residents who oppose the store will square off against Walmart and the Orange County officials who approved the Supercenter.

York, Pa. -- The Bon-Ton Stores said Monday that it has extended president and CEO Bud Bergren's contract through Feb. 5, 2012, and has promoted Barbara Schrantz to COO.

Under the newly announced agreement, Bergren's contract will automatically renew annually, unless the board chooses otherwise. Schrantz will assume the role of COO on Jan. 30. She is currently executive VP sales promotion and marketing.

DALLAS -- Tuesday Morning reported that net income for the quarter ended Dec. 31 was $17.3 million, compared with $18.5 million in the year-ago period.

Net sales decreased 3.6% to $279.3 million from $289.6 million. Same-store sales decreased 3.2%.

According to Kathleen Mason, president and CEO: "We anticipate that we will return to positive comparable sales for the remainder of the fiscal year.” Tuesday Morning reported four consecutive quarters of same-store sales growth prior to the second quarter.

Hackettstown, N.J. -- Purchase, N.Y.-based National Realty & Development Corp. said that Party City has leased 15,000 sq. ft. at Mansfield Commons, located in Hackettstown, N.J.

The 283,000-sq.-ft. shopping center is anchored by a recently expanded Walmart and Kohl’s.

Washington, D.C. -- The Conference Board said Tuesday that its Consumer Confidence Index reached its highest level in eight months as Americans grew more optimistic about the job market.

The Index climbed to 60.6 this month, up from 53.3 in December. While that reading surpassed expectations, it still falls short of the 90 level that indicates a healthy consumer mindset.

The January figure was the highest since last May's 62.7, and hasn’t been above 90 since the recession began in December 2007.

Cleveland -- Sherwin-Williams Co. reported Tuesday that net income for its fourth quarter increased to $72.9 million, compared with $65.3 million in the prior year.

Revenue rose to just under $1.9 billion, from $1.6 billion. Wall Street expected revenue of $1.78 billion.

Salt Lake City -- Sunflower Farmers Market said Tuesday that it will open a new store in Salt Lake City on March 16.

The newest location marks the organic grocery chain’s third in Utah and the 33rd store overall for Sunflower Farmers Market.

Sunflower Farmers Market will open its first California location in April.