News

BOCA RATON, Fla. — Office Depot has launched a new line of exclusive office chairs from the Style@Work by Thomasville collection. According to the company, the Style@Work by Thomasville collection provides customers with luxury home office chairs at an affordable price, and are currently available at nationwide Office Depot retail store locations and online at www.officedepot.com.

This fall, Indianapolis-based Simon Property Group will bring high-energy runway shows and events to shoppers across the nation with “Simon Fashion Now,” a series of free events held at select Simon shopping centers.

Earlier in September, Simon Fashion Now kicked off in Houston – at The Galleria – and the tour will continue at Simon properties in Boca Raton, Fla. (Town Center at Boca Raton); Burlington, Mass. (Burlington Mall); Garden City, N.Y. (Roosevelt Field); and Charlotte, N.C. (SouthPark).

UNION, N.J. — Bed Bath & Beyond's aggressive promotional strategy appears to be paying off as the company reported another quarter of strong sales. The company reported that net sales for the fiscal second quarter of 2011 were approximately $2.314 billion, an increase of approximately 8.3% from net sales of approximately $2.137 billion reported in the fiscal second quarter of 2010. Comparable-store sales in the fiscal second quarter of 2011 increased by approximately 5.6%, compared with an increase of approximately 7.4% in last year's fiscal second quarter.

Camp Hill, Pa. -- Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period.

Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%.

The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated.

New York City -- Facebook will announce that it is adding a “Want” button to its wall during its developers conference later this week, according to techcrunch.com.

The launch of the new social commerce button will be accompanied by the addition of several other buttons, including “Read,” “Listened” or “Watched”  various pieces of content.
 

SACRAMENTO, Calif. — Walmart is taking its commitment to renewable energy to new levels in California. The chain announced plans to install solar panels on up to 60 additional stores in the Golden State. The initiative, done in partnership with SolarCity, expands the company’s solar portfolio to more than 75% of its locations in California.

WASHINGTON — The National Retail Federation said it welcomed legislation that would require the State Department to speed up the visa application process for citizens from three key countries, saying the move would make it easier for tourists and business travelers to spend money in U.S. stores.

Union N.J. -- Bed Bath & Beyond reported Thursday that net income for the quarter ended Aug. 27 rose 26% to $229.4 million, amid improved sales and contained costs. Sales for the quarter rose 8.3% to $2.3 billion, and same-store sales increased 5.6%.