Discount Store

New York City -- Family Dollar plans to continue aggressive growth in the current fiscal year, with 450 to 500 new stores on tap, CEO Howard Levine said at the company's annual shareholder meeting Thursday, The Charlotte Observer reported.

The discounter also plans to open its 11th distribution center this year, to serve its stores in California where it has started expanding, the report said.

Levine said Family Dollar will continue its store renovation program, making over another 1,000 locations.

Target chairman, president and CEO Gregg Steinhafel was elected chairman of the board of the Retail Industry Leaders Association (RILA).

Steinhafel previously served as the board’s vice chairman and in his new capacity succeeds former RILA board chairman Bill Rhodes, chairman, president and CEO of AutoZone. 

New York City -- Hudson’s Bay Co. has completed the acquisition of Lord & Taylor, according to a report by Women’s Wear Daily.

The report said that HBC owner Richard Baker has dissolved the umbrella company that had until now held the two chains, and that HBC would now operate The Bay and Lord & Taylor. The new entity will be run by Bay CEO Bonnie Brooks, according to the report.

A letter that surfaced last week from Target executives to the company’s suppliers brought back memories of Tom Hanks signature line from the movie A League of Their Own about how there is no crying in baseball.

Usually Walmart is the retailer promoting the midnight release of some hot Hollywood title, but early next month Target is taking a run at the new release strategy with the release of The Twilight Saga: Breaking Dawn – Part 1.

Naples, Fla. -- The Retail Industry Leaders Association (RILA) announced the election of Gregg Steinhafel, chairman, president CEO of Target Corp., as chairman of its board of directors.

“I am grateful for the opportunity to serve as chairman of this exceptional group of industry leaders,” said Steinhafel. “Along with the rest of the Board of Directors, I value RILA and its efforts to champion issues that affect our industry, our workforce and our customers.”

New York City -- Target Corp. is mulling a  new pricing strategy amid increased competition from online and brick-and-mortar rivals, according to reports by the Associated Press and Dow Jones.

The reports said that Target  has sent a letter to some of its key vendors as part of a potential new strategy to bolster its competiveness. The news comes just days before J.C. Penney is scheduled to announce a major overhaul in which pricing is likely to play a key role.

SALISBURY, N.C. — Bottom Dollar Food announced grand opening dates for its first 14 stores in the greater Pittsburgh and Youngstown, Ohio, markets, with its first seven stores opening on Jan. 26. Seven additional stores will open on Feb. 9.