Retail

The increases in average transaction size and customer traffic that Target credited with driving its 4.1% same-store sales increase during August is unwelcome news for Walmart. This is especially true since the biggest gains continue to come in categories where Walmart is traditionally strongest and is intent on demonstrating price leadership.

MINNEAPOLIS — Target has announced new beauty exclusives that are hitting shelves for fall 2011.

Hair accessories brand Goody is bringing exclusively to Target in October its fall Regency collection, which features 32 pieces, including headbands, hairpins, clips and elastics. Prices range from $2.19 to $8.99.

Highlights of new offerings include:

• Ruched Flower Salon Clips ($5.99)

• Infinity Beaded Head Wrap ($6.99)

• Metal Flower Salon Clip ($6.99)

CITY OF INDUSTRY, Calif. — Hot Topic has announced that two new executives have joined the company, Don Hendricks as CIO and Jeff Allison as SVP planning and allocation.

Hendricks will lead all information technology for Hot Topic Inc. Prior to joining Hot Topic, Hendricks was the CIO at Gymboree Corp. where he led many successful major systems implementations. In addition to his IT responsibilities, Hendricks was also responsible for distribution and logistics.

FORT WORTH, Texas  — Pier 1 Imports reported a 10.8% same-store sales increase for the second quarter ended Aug. 27, on top of an 11.2% comps increase for the same period last year, driven primarily by increases in traffic and average ticket. Total sales for the quarter improved to $340 million compared to $310 million in the year-ago quarter. 

Pier 1 said it expects earnings per share for the quarter to be 14 cents.

MOORESVILLE, N.C. — Lowe's pledged $1 million to disaster relief and rebuilding efforts in communities affected by Hurricane Irene.

“This has been a record-setting year for disasters across the country, and Lowe’s will continue to provide funding, supplies and volunteers whenever possible," said Robert A. Niblock, Lowe’s chairman, president and CEO.

The leadership transition Costco announced this week was hardly unexpected considering outgoing CEO Jim Sinegal is 75, but it does underscore what arguably has been one of the greatest distinctions between Costco and Sam’s clubs for the past 25 years, namely the stability of senior leadership.

As if escalating tensions with Target weren’t enough of a large format competitive concern for Walmart, Dollar General remains on a roll with its 9,641 value-oriented and conveniently located stores.

The company sounded like it lifted a line from Target’s August sales release earlier this week when it reported second quarter results that exceeded expectations due to an increase in customer traffic and average transaction size.

BENTONVILLE, Ark. — Walmart U.S. President and CEO Bill Simon addressed attendees at the American Legion's 93rd National Convention on Wednesday, telling fellow Americans, veterans and Legionnaires that Walmart would create jobs in the U.S. by hiring more than 15,000 people to work in about 100 new and expanded Walmart stores by fiscal year's end.