Discount Store

NEW YORK — The National Retail Federation has announced the newest executives elected to serve on its board of directors. The announcement was made during NRF's 101st Annual Convention in New York.
Each new board member will serve a three-year term. Macy’s Inc. chairman, president and CEO Terry Lundgren was re-elected to serve another full-year as  chairman of the NRF Board. 

The new executives elected to serve on NRF board of directors include:

• Thomas Belk, chairman and CEO, Belk Inc.

San Francisco -- A Tuesday report by Reuters said that Wal-Mart filed a motion on Monday to dismiss a lawsuit filed last October by a regrouping of women whose earlier gender bias class action was ended by the U.S. Supreme Court.

New York City -- A report by Reuters on Tuesday revealed widespread Wall Street speculation that Sears Holdings Corp. may go private.

"There is a rumor that Bruce Berkowitz of Fairholme and Eddie Lampert could take Sears private," Jon Najarian, a co-founder of TradeMonster.com in Chicago, told Reuters.
 
Sears has not commented on the rumors, which come days after CIT Group halted loans that Sears' suppliers use to finance the goods they sell to the Sears and Kmart chains.

New York City -- According to a survey released Tuesday by the NRF Foundation and American Express, Amazon.com has the best customer service among U.S. retailers.

The seventh annual Customers’ Choice survey, conducted by BIGinsight and polling 9,374 shoppers, saw the same group of retailers occupy the Top 10 spots in the poll, with some place-switching.

New York City -- Kronos Inc. said Monday that Family Dollar is using its suite of workforce management solutions to control labor costs, minimize compliance risk, and improve productivity of more than 55,000 Family Dollar employees across 7,000 stores.

In an era when retail cashiers look warily at a $100 bill, hard to imagine what a man was thinking when he tried to pass a $1 million bill at a Walmart in North Carolina.

Menomonee Falls, Wis. -- Kohl's Corp. said Thursday it is doubling the size of its design office in New York City, as well as adding its first design studio on the West Coast, in Santa Monica, Calif.

The move, said the company, represents a commitment to its exclusive brands.

"The investment reinforces our commitment to offering world-class brands at compelling value to our customers," said Kevin Mansell, Kohl's chairman, president and CEO, in a statement.

COMMERCE, Calif. — Sales at 99-Cents Only Stores rose 10.6% to $403.9 million for the third quarter of fiscal 2012 over sales of $365.4 milllion for the same quarter last year.  

The company's overall same-store sales for the third quarter of fiscal 2012 increased 8.5%. The number of same-store-sales transactions increased 5.6% and the average transaction size increased to $9.86 from $9.59.