Discount Store

After relinquishing the CEO role last year, Dollar General chairman Rick Dreiling will complete a previously announced leadership transition on Jan.

The largest single-day, private sector pay increase ever will take effect Feb. 20, when more than 1.2 million Walmart U.S. and Sam’s Club associates receive a pay increase.

The salary hike is the second phase of the company’s two-year, $2.7 billion investment in workers. But it is broader than the original plan, which was announced last fall.

Walmart said it will close 269 stores worldwide this year, including many of its smallest-format stores, in a move that CEO Doug McMillon characterized as being more disciplined about growth. It is one of the largest number of stores closures that Walmart has ever announced at one time.

Walmart said it will close 269 stores worldwide this year, including many of its smallest stores, in an unprecedented move CEO Doug McMillon characterized as being more disciplined about growth.

The downsizing continues at Sears Holding Corp.

The troubled retailer is closing what it described as a “very small percentage” of its overall number of Kmart and Sears stores across the country.

"Every year we evaluate our store portfolio and make changes based on leases or stores with poor performance," company spokesman Howard Riefs said in a Reuters report.

The exact number of stores to be shuttered has not been disclosed. But Reifs also said Kmart would account for the majority of the closures.

Baton Rouge -- JLL’s Capital Markets experts announced the firm has closed the sale of Hammond Aire Plaza located in Baton Rouge, Louisiana, on behalf of Kimco Realty. The asset was purchased by a joint venture partnership between DRA Advisors and Viking Partners.

Managing director Margaret Caldwell, VP Diane Roberts and associate Eric Spencer led the JLL team on the transaction.

Supervalu wants to unlock the value of its Save-A-Lot division with a planned spinoff, but the 1,336 store division did little to enhance its appeal to investors with a weak showing in the third quarter.

Another batch of retailers released holiday results this week and provided further evidence that an unusual blend of economic factors and evolving shopping behaviors made for a strange holiday season.