News

Mike Kahn, director of Alpha Camera Systems for Sony Electronics was named special advisor to the board of PMA, the Worldwide Community of Imaging Associations.

The move is long overdue for an 86 year old organization focused on serving the needs of the imaging industry as Kahn’s appointment marks the first time a manufacturer representative was named to a PMA executive committee.

New York -- Shares of Sears Holdings were under heavy selling pressure Thursday morning, sliding 7% to $53.38 on Standard & Poor's. S&P plans to remove the chain from its S&P 500 Index because the chain’s public float has has been below the index's 50% threshold for an extended period of time.

The Sears' name, in one form or another, has been in the S&P 500 since it was created some 55 years ago. Sears will be removed from the index at the close of trading on Sept. 4. The retailer will be replaced by chemical maker LyondellBasell.

"Come grow with us," could have been the title of the presentation Sam’s Club EVP of merchandising Charles Redfield gave earlier this week at the Grocery Manufacturers Association’s annual executive conference.

MOORESVILLE, N.C. -- Lowe’s Companies and the collegiate multimedia, marketing and licensing/brand management firm IMG College announced a national marketing agreement that helps the home improvement retailer reach college sports fans where dialogue is a game changer: official social media platforms.
 

NEW YORK — Woolite is opening a branded pop-up boutique during New York Fashion Week. Located at 372 West Broadway in New York, the WooliteWashed boutique will open its doors to the public on Sept. 6 with a kick-off party during Fashion's Night Out, hosted by Cat Deeley from "So You Think You Can Dance" and celebrity style expert Jacqui Stafford.

Everyone who is anyone will be on hand in New York next week for the nineteenth annual Goldman Sachs Global Retailing Conference so its not surprising that Walmart U.S. president and CEO Bill Simon will be in attendance.

Ross Stores and The TJX companies both reported a better-than-expected 8% same store sales increase during August. Shoppers continued to beat a path to Ross and TJX stores during August where exceptionally strong sales suggest consumers are unrelenting in their search for value amid protracted economic weakness.

A 4.2% increase in August same-store sales at Target was at the high end of the company’s forecast range.

The solid showing during August was noteworthy because it came on top of a prior year increase of 4.1% and was attributable primarily to an increase in average transaction size. According to Target, about three fourths of the increase was due to growth in ticket with increase shopper traffic accounting for the remainder of the comp increase.