News

CINCINNATI — As part of its "My Story. Our Flag." project, Tide unveiled a special flag — created in honor of Team USA — in New York's Bryant Park on Tuesday.

The 117-ft.-by-52-ft. flag, a larger-than-life artistic rendition of the American flag, features nearly 1,500 stories collected from Tide's Facebook and Twitter followers. Each piece of fabric making up the flag was washed in Tide prior to being sewn together, the brand said.

MINNEAPOLIS — Target reported a 2.1% same-store sales increase that was toward the low end of the company’s expectations.

Despite June sales that were softer than expected, Target left its second quarter profit forecast intact as the weaker-than-expected result offset a better-than-expected performance the previous month.

New York -- Disappointing same-store sales results in June weren’t necessarily unexpected, as the month typically trends weaker as shoppers have fewer reasons to shop.

Thomson Reuters, which polls 18 U.S. retail chains, projected its Same-Store Sales Index to inch up 0.5% in June, far below last year’s 6.7% rise for the month. Analysts have said that warm weather may have prompted consumers to make summer apparel purchases earlier than usual, shifting sales from later months like June.

ARLINGTON, Va. — The Retail Industry Leaders Association is urging President Obama and his administration to release proposed healthcare regulations that will affect nearly 170 million Americans currently receiving employer-sponsored health coverage.

New York -- As discounters such as Target, Stein Mart and warehouse club operator Costco posted disappointing same-store sales results in June, TJX Cos. and Ross Stores shone with gains that surpassed Wall Street estimates. TJX saw a same-store sales rise of 7% in June, beating the 4.2% rise predicted by analysts. Ross was up 7% for the month, after Wall Street forecast a 4.8% increase. Sales rose 12% to $886 million in June. Both chains raised their second-quarter profit forecasts.

Kendal King Group has created a unique event to be held in Northwest Arkansas later this summer that is designed to simultaneously benefit local charities while commemorating the firm’s 25th anniversary.

Chelmsford, Mass. -- The Kronos Retail Labor Index edged up to 4.2% in June from a reading of 4.1% in May. The June reading reflected sharp declines in both applications and hiring. (The index is defined as the ratio of hires to applications within a given month, expressed as a percentage. A level of 3.0% means that for every 100 applications received, three hires occurred.)

HAMILTON, Bermuda — Bacardi Limited has named Gianpaolo Perego as regional president of Latin America with responsibility for leading all operations in the region for the internationally known portfolio of premium spirits. Perego will manage the execution of the overall strategy for the Latin American region, as well as the general management of a diverse business comprising 19 countries. In this role, he will also be a member of the Bacardi Leadership Team. The appointment takes effect July 9.