Supply Chain & Merchandising

Toronto -- Sears Canada Inc. said on Friday it is shutting down three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

New York -- In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

After suggesting last week that sales had accelerated and returned to a pre-holiday pace, Target Corp. reported Thursday that same-store sales for the month rose 7%, beating Wall Street’s expected 5.2%. Total sales during the period rose 8% to $5.13 billion, boosted by strength in the food, healthcare and beauty categories. Accessories and apparel performed above average as well.

Bentonville, Ark. -- Wal-Mart Stores Inc. said Thursday it is continuing its annual tradition of increasing shareholder payout by raising its dividend by 9%.

Wal-Mart will pay a quarterly dividend of 39.75 cents on April 4 to shareholders of record on March 12. That works out to $1.59 per share for the year. The company has increased its dividend every year since its first declared dividend in March 1974.

According to Wal-Mart president and CEO Mike Duke, the company's U.S. business is back on track, and international results remain strong.

New York City -- J.C. Penney Co. has promoted Elizabeth Sweney to the position of chief merchant, Women’s Wear Daily reported.

Sweney is a 12-year-company veteran. She served as executive VP and general merchandise manager of women’s apparel.

NEW YORK — Nestlé Nutrition has promoted Steve Goodyear to VP retail sales for Nestlé Nutrition's U.S. division.

NEW YORK — In a month that was solid overall, the discount sector showed its muscle, turning in a strong February same-store sales performance nearly across the board.

After suggesting last week that sales had accelerated and returned to a pre-holiday pace, Target reported Thursday that same-store sales for the month rose 7%, beating Wall Street’s expected 5.2%. Total sales during the period rose 8% to $5.13 billion, boosted by strength in the food, healthcare and beauty categories. Accessories and apparel performed above average as well.

The surge in February same-store sales Target reported Thursday morning didn’t come as a surprise to incoming CFO John Mulligan who alerted the market to the above plan performance when Target reported fourth-quarter results on Feb. 23.

New York City -- Women’s apparel retailer Cache Inc. said Thursday that it has partnered with e-commerce solution provider FiftyOne Global Ecommerce to facilitate international sales and shipments to more than 100 countries, beginning in fall 2012.