Retail

MENOMONEE FALLS, Wis. — Kohl’s third quarter sales increased 2.6% to $4.5 billion, and comparable-store sales were up 1.1%, in line with the company's expectations.

The retailer's net income for the third quarter rose 14% to 91 cents per diluted share. Net income was $215 million compared with $211 million, or 80 cents per diluted share, a year ago.

New York -- Holiday sales will reach a record $556.8 billion, a sluggish 2.8% increase from 2011, according to retail consultancy Customer Growth Partners’ 11th annual Holiday Forecast.  

Woonsocket, R.I. — CVS/pharmacy on Thursday expanded the role of two retail field executives as senior VP operations Dennis Palmer, a 37-year retail veteran, announced his retirement.

Effective Nov. 5, Hanley Wheeler, SVP operations has assumed responsibility of CVS/pharmacy’s Western and Southwestern markets while continuing to have responsibility for the company’s retail operations in its Midwest and Southeast markets.

Arlington, Va. – In a letter sent Thursday to President Barack Obama, RILA President Sandy Kennedy argued that the Administration’s failure in a timely manner to provide employers with formal guidance on the most basic of implementation rules for the Affordable Care Act (ACA) jeopardizes employer-sponsored healthcare coverage.

“RILA is extremely concerned that when formal guidance is finally released, employers will not have ample time to plan, budget and implement changes in order to comply with the new law,” said Kennedy.

BENTONVILLE, Ark. — Walmart has unveiled its Black Friday circular and event times on www.Walmart.com as well as its Facebook wall and mobile app. The retailer's Black Friday circular includes hundreds of brand name electronics, toys, apparel, sporting goods and home and houseware items. Backed by Walmart's ad match guarantee, items featured in the Black Friday circular will be available during three events starting at 8 p.m. Thursday, Nov. 22.

DALLAS — Zale Corp. has partnered with Shaquille O'Neal for a new, exclusive collection of men’s jewelry.

The Shaquille O’Neal Collection will offer a variety of men’s pendants, rings and bracelets. The collection will be offered exclusively in select Zale stores throughout the U.S., Canada and Puerto Rico and online at Zales.com/shaq, just in time for holiday gift giving.

Seattle -- Starbucks Coffee Co. on Thursday started will accepting Square’s mobile payment application, Square Wallet, in approximately 7,000 U.S. Starbucks stores.

The new application, which allows customers to pay at Starbucks and explore nearby businesses, browse menu information, store hours and transaction history on their phone, is in addition to Starbucks own mobile payment applications on iOS and Android.

SAN FRANCISCO — Williams-Sonoma has launched a new, direct-to-consumer brand, Mark and Graham, which specializes in personalized gifts and accessories.

The Mark and Graham line will feature home decor, small leather goods and seasonal items that can be personalized with a choice of more than 50 custom monograms and creative type treatments. The brand will offer its products through an exclusive direct mail catalog and an e-commerce website Markandgraham.com.