News

MINNEAPOLIS — Target's charitable Facebook campaign garnered more than three million votes in leas than four weeks, the company reported. Through its Give With Target campaign, the company was able to reach its goal of awarding $2.5 million in Target gift cards to schools across the country two weeks earlier than planned.

New York -- On Thursday, Saks’ top shareholder Carlos Slim sold 1.5 million of his shares in Saks Inc., remaining the retailer’s No. 1 shareholder but reducing his holdings to 25 million shares.

The Mexican billionaire, through Inmobiliaria Carso SA De CV, sold the 1.5 million shares on Monday and Tuesday.
 

Walmart saw its low price supremacy challenged this week by a Bloomberg report indicating Target had lower prices on a basket of 150 comparable items.

PHOENIX — Sprouts Farmers Markets announced that Shon Boney, who has served as CEO since the company's founding in 2002, will assume the role of chairman of the board of Sprouts. Long-time Sprouts president Doug Sanders will become president and CEO, whereby he will continue to be responsible for all day-to-day aspects of running the business.

According to the company, Boney is taking on the chairman role in order to spend more time with his family in Sand Diego.

Walmart.com still has a lot of ground to make up on Amazon.com, but July was a step in the right direction as the company added more unique visitors and grew at a faster pace than Amazon.com.

The number of unique visitors to Walmart.com increased 16.8% I to 45.2 million and placed the company 23 on a top 50 Web properties report compiled monthly by the online measurement firm comScore Media Metrix. During July of 2011, Walmart.com ranked 25^{th with 38.7 million unique visitors.}

Anaheim, Calif. -- Pacific Sunwear of California Inc. reported Wednesday a loss of $17.5 million for the second quarter, narrowed from a loss of $19.3 million in the year-ago period.

Results were boosted by a 5% sales in the quarter ended July 28 – to $210.3 million, from $200.9 million last year. Wall Street expected $203.1 million in revenue.

Same-store sales climbed 5%, which included a 7% rise in PacSun’s men’s division and a 2% rise on the women’s side.
 

The nation’s largest retailer is expanding an in-store healthcare initiative involving 10 types of immunizations administered at its stores through Nov. 15.

Walmart said it is working with Mollen Immunization Clinics to provide 10 of the immunizations recommended by the Centers for Disease Control and Prevention at 2,700 stores. In addition, the company said flu and pneumonia vaccines would be available at all 3,800 stores with pharmacies.

Memphis -- Fred’s reported Thursday that net income for the quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.

Sales rose 4% to $470.8 million from $452.7 million, and same-store sales dipped 1%.

Profit results missed Wall Street expectations, and the discounter has lowered its full-year earnings forecast.