Retail

As the winter season approaches, Burlington Coat Factory experienced overall sales growth that led to a comparative store sales increase of 7.8% for the second quarter ended Aug. 3.

Total net sales increased 11.5% to $963.7 million for the months quarter compared with last year.

“We are proud of our second quarter results including 11.5% overall sales growth and, most important, our 7.8% comparative store sales increase. I would like to thank our store and corporate teams for contributing to these results,” said Tom Kingsbury, president and CEO. 

Boston — A group of private equity companies, including Advent International and CDIB Capital, have joined together to acquire a significant equity position in International Coffee & Tea, which owns and operates stores under The Coffee Bean & Tea Leaf banner, with an eye on expanding in Asia. Other investors participating in the transaction include Mirae Asset Private Equity and the Sassoon family (the latter is the largest existing shareholder of The Coffee Bean, and is remaining as a substantial shareholder).

CVS unveiled the details of a company-wide information and outreach program to help customers navigate their insurance options under the new healthcare law during a store visit in Orlando with U.S. Health and Human Services Secretary Kathleen Sebelius.

The program includes retail events and brochure displays at more than 7,500 CVS/pharmacy stores and 650 MinuteClinic locations. Information is also available online at cvs.com/insurance.

Bolinbrook, Ill. -- Ulta Beauty reported that its second quarter net income rose 28.3% to $44.9 million, compared with $35 million in the year-ago period.

The company posted a 24.8% boost in second quarter net sales as CEO Mary Dillon outlined some of the key priorities for her first 100 days at the helm of the beauty retailer. Dillon, a former PepsiCo executive, joined the company as CEO on July 1. She succeeded Chuck Rubin, who left the company to become CEO at Michaels Stores.

New York -- In the final hours of its 2013 regular session, the legislature in California voted to approve a bill that would raise the minimum wage from $8 an hour to $10 an hour within three years. Gov. Jerry Brown has indicated he would sign the bill into law, saying "The minimum wage has not kept pace with rising costs. This legislation is overdue and will help families that are struggling in this harsh economy."

Plano, Texas – Rent-A-Center is opening a new store at 1611 Blue Hill Avenue in the Mattapan neighborhood of Boston today.

Rent-A-Center operates 70 locations in the state of Massachusetts and more than 3,000 stores in the U.S., Puerto Rico, Canada, and Mexico. The company employs more than 21,000 workers.

Vornado Realty Trust chairman and CEO Steven Roth has resigned from J.C. Penney’s board of directors, according to a Reuters report. 

The article went on to say that Vornado, which owns office buildings and retail properties in New York and Washington, took a 9.9% stake in Penney at the same time that Bill Ackman's Pershing Square Capital Management bought a 16.5% stake in 2010 to push for big changes at the company.

Austin, Texas – The California Department of Pesticide Regulation is reportedly suing Whole Foods Market, Inc. for selling four pesticide products that allegedly fail to comply with state regulations.

An Associated Press report says the suit, filed Monday, Sept. 9 in Sacramento Superior Court, requests a court order to force Whole Foods to explain why it is selling the pesticides in question. If the court determines the pesticides are banned in California, the state could potentially fine the retailer.