Discount Store

Target said it plans to close stores in Broomfield, Colo., Raleigh, N.C., Orlando and Portland by the end of its fiscal year in late January.

The low single-digit apparel-and-accessories comps increase Target reported in October put the company squarely in the middle of the pack with department store and specialty apparel competitors.

GOODLETTSVILLE, Tenn. — Dollar General announced that is honoring men and women who have served our country in the military with a special Veterans Day discount. On Friday, Nov. 11, all veterans, active duty military, National Guard and Reserve and their immediate families will receive a 10% discount at Dollar General stores. Shoppers at www.dollargeneral.com will also be eligible to receive 10% off their purchase Nov. 11 through Nov. 13 using the code VETERANSDAY at checkout.

Economists may be feeling good after a government report that showed third-quarter GDP grew at 2.5%, but try telling millions of Americans who shop at Walmart stores at 12:01 a.m. on the first of the month that the nation is no longer in a recession.

It’s working. That was the message Walmart EVP merchandising Duncan Mac Naughton shared this week with those who attended several events in which Walmart’s head merchant offered his perspective on the back-to-basics operational and merchandising philosophy on which the company’s U.S. strategy is once again dependant.

NEW YORK — Kohl's Corp. reported a 3.9% rise in same-store sales in October, better than analysts’ expectations, amid strong demand for its new Jennifer Lopez and Mark Anthony brands.

In a statement, CEO Kevin Mansell said that customers responded favorably to the pair of new brands, as well as the company's marketing programs.

“As we enter the important fourth quarter, we plan to continue our investment in marketing, especially digital and broadcast, to drive customer traffic and broaden our reach,” he said.

COLUMBUS, Ohio — Big Lots reported that sales for the third quarter ended Oct. 29 were $1.1 billion, an increase of 6% compared with $1 billion for the third quarter of fiscal 2010. Comparable-store sales increased 1.7% for the third quarter of fiscal 2011.  

NEW YORK — Consumer spending slowed in October, sending a note of caution as retailers head into the holiday season. Eleven retailers missed expectations for same-store sales, while three chains beat estimates, according to a preliminary tally by Thomson Reuters. However, while the October results were not as promising as some retailers had hoped, sales for the most part rose and most chains reported results that were only slightly off from analysts’ estimates. Some analysts blamed Wall Street for underestimating how much caution is still out there.