Mass Merchant

Matthews, N.C. -- Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company." In February, Nelson Peltz's Trian Fund offered $55 to $60 per share, or about $6.99 billion, for Family Dollar.

The chain said it also adopted a shareholder rights plan, commonly called a "poison pill," that would significantly dilute shares if a takeover attempt proceeds.

Framingham, Mass. -- Fourth-quarter sales at Staples increased slightly to $6.4 billion, net income increased 17% to $275 million, and earnings per share increased 19% to 38 cents courtesy of a favorable tax benefit of six cents.

Staples chairman and CEO said he was proud of all the company achieved in 2010.

 ISSAQUAH, Wash. and WESTBOROUGH, Mass. -- The past three-months were favorable to the warehouse sector, as both Costco and BJ’s Wholesale reported quarterly results that were in-line with or beat analysts’ expectations.

NEW YORK -- Marc Forgione is the latest chef to join Macy's Culinary Council, the company announced. According to Macy's, the council is "a team of talented and distinguished chefs who serve to inspire the way Macy's customers shop, cook and eat at home.

Forgione, who was recently crowned season three winner of Food Network's TheNext Iron Chef, will kick-off his new position on Macy's Culinary Council with an in-store cooking demonstration at Macy's Chicago on State Street on March 8 at noon.

DENVER -- Walmart announced that it has donated $100,000 to continue the Walmart Tribal College Scholarship Program. This program is providing 33 greatly needed scholarships for the spring 2011 semester, supporting one student at each of the nation's 33 tribal colleges and universities.

New York City -- Target has partnered with two local developers to purchase a 7.9-acre United States Postal Service site in the Throgs Neck section of Bronx, N.Y., for $35.2 million, where they plan to build a 300,000-sq.-ft. mall, according to New York Read Estate News.

Suffern, N.Y. -- Ascena Retail Group's fiscal second-quarter net income nearly doubled to top expectations, buoyed by solid results at its Justice stores.

The company, formerly The Dress Barn, reported net income of $42.5 million for the quarter, up from $21.7 million last year.

Revenue for the period ended Jan. 29 was up 27% to $752.2 million, better than the Street's $716.2 million estimate. Same-sale sales rose 9%.

New York City -- While Walmart and Target continue to closely contend on price, Target’s basket price came in less expensive in the latest semi-annual pricing study by Kantar Retail.

“Walmart’s price positioning reveals that it has largely returned to a blanket EDLP approach, while Target’s TPC positioning is centered on price promotions to drive guests’ impressions and achieve actual basket price leadership,” said Leon Nicholas, senior VP of Retail Insights for Kantar Retail and contributor to the study. 

Olympia, Wash. -- Youngstown, Ohio-based Cafaro Co. said Tuesday that Ross Dress for Less will open a new store at its Target Place Plaza, located in Olympia, Wash.

The new 28,000-sq.-ft. store will open to the public on March 5.

Target Place Plaza is a 282,183-sq.-ft. center anchored by Target, along with Ross Dress For Less, OfficeMax, Macy’s Furniture Gallery, FedEx Kinkos, Whistle Workwear, Honey Baked Ham, Jo-Ann Etc. and more.

PITTSBURGH and BENTONVILLE, Ark. — GNC is making its foray into the warehouse club for the first time by offering select private-label products at Sam's Club locations.

GNC's products will boost Sam's Club's current health-and-wellness offerings by extending GNC's specialty retailing brand to mass-market customers.