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Corporate Governance

  • Rite Aid same-store sales up 0.4% in August

    Camp Hill, Pa. — Rite Aid posted a 0.4% increase in same-store sales for the month of August.

    The increase included a 2.4% increase in front-end comps and a 0.6% decrease in pharmacy comps.

    Total store sales for the five-week period that ended Saturday were $2.406 billion, a 0.4% decrease from last year's $2.414 billion. Same-store prescription count increased by 4.5%.
     

  • Dollar General Q2 profit jumps 47%; raises fiscal year forecast

    Goodlettsville, Tenn. -- Dollar General Corp. on Wednesday said it had earned a better-than-expected $214.1 million in the second quarter, ended on Aug. 3, up from $146 million a year earlier. The discounter also raised its earnings forecast for the year.

  • Toys "R" Us and Walmart battle for layaway dollars

    Toys "R"Usenhanced its layaway program by dropping some fees and Walmart quickly responded.

    Toys "R" Us dropped the $5 service fee and minimum purchase requirement from its layaway program in a bid to capture sales of those who begin their holiday shopping early.The company said it changed the rules for its layaway program, instituted in 2009, to waive the $5 upfront service fee and eliminate the minimum purchase requirement for all orders created in stores through October 31.

  • Closeout veteran named CEO at Tuesday Morning

    Leading closeout retailer Tuesday Morning named Brady Churches as CEO three months after the departure of former CEO Kathleen Mason.

    According to the operator of 850 stores, the board was searching for what it called a "master merchandiser," and believed Churches’ track record of merchandising excellence, combined with his high-energy, entrepreneurial mindset would serve Tuesday Morning very well.

  • Newell Rubbermaid names new CFO

    ATLANTA — Newell Rubbermaid has appointed Doug Martin as CFO, succeeding Juan Figuereo.

  • Target donates $150K for hurricane relief

    MINNEAPOLIS — Target has donated $150,000 in cash and products to assist with Hurricane Isaac relief efforts. A $120,000 cash donation was given to the American Red Cross in support of response efforts. An additional $20,000 in product donations and $10,000 in Target gift cards will be given to other nonprofit organizations in affected areas for essentials such as water and food.

  • Sustainable seafood gets funding boost

    The Marine Stewardship Council received a nearly $11 million cash infusion from a trio of charitable foundations, including the Walton Family Foundation.

    The groups said the multi-year investment would support expansion of a seafood certification program and continue development of partnerships with fishermen, industry and retailers.

  • Collective Brands returns to profit in Q2

    TOPEKA, Kan. — Collective Brands reported net earnings of $9.7 million, or 16 cents per share, for its second quarter compared with a loss of $35 million, or 58 cents per share, in the second quarter of 2011.

    Net sales increased 0.4% to $886 million, driven by a 2.9% comparable-store sales ncrease and sales growth of 6.1% in the Performance + Lifestyle Group  Wholesale segment, offset in part by operating 375 fewer stores.

  • Advance Auto parts names head of Mid-Atlantic store ops

    ROANOKE, Va. — Advance Auto Parts  has promoted Rusty Tweedy to area SVP, responsible for store operations in the Mid-Atlantic regions. Tweedy will report to Kurt Schumacher, SVP national field operations. Effective with this promotion, the company is adding a fourth operational area which will enable the company’s field and commercial sales leaders to be more aligned and focused on driving profitable growth.

  • Shoppers insights firm names SVP

    Angela Myers was named SVP of retail consulting at Spire, a quantitative shopper intelligence firm.

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