News

New York City -- Terry Lundgren, CEO of Macy’s, has been appointed to the Federal Reserve Bank of New York board of directors.

Lundgren was appointed a class B director starting Aug. 31 for the unexpired porting of a three-year term ending Dec. 11, serving the remainder of GE CEO Jeffrey Immelt’s CEO term.
 

As if escalating tensions with Target weren’t enough of a large format competitive concern for Walmart, Dollar General remains on a roll with its 9,641 value-oriented and conveniently located stores.

The company sounded like it lifted a line from Target’s August sales release earlier this week when it reported second quarter results that exceeded expectations due to an increase in customer traffic and average transaction size.

BENTONVILLE, Ark. — Walmart U.S. President and CEO Bill Simon addressed attendees at the American Legion's 93rd National Convention on Wednesday, telling fellow Americans, veterans and Legionnaires that Walmart would create jobs in the U.S. by hiring more than 15,000 people to work in about 100 new and expanded Walmart stores by fiscal year's end.

BOCA RATON, Fla. — Office Depot announced that it is now expanding its retail store presence in the Caribbean territory as part of its franchise agreement with Benmore International.

New York City -- Jesta I.S., a supplier of enterprise business solutions for retailers, manufacturers and distributors in the apparel, footwear and specialty industries worldwide, announced Wednesday that Joseph-Beth Booksellers has selected Jesta I.S. solutions to power its business operations.

Joseph-Beth Booksellers will implement the Jesta I.S. Vision Store, Vision Merchandising, Vision Planning, and Vision E-DOM, enabling the integration of all its information in a single solution.

Mooresville, N.C. -- Lowe’s said Wednesday it has launched a home improvement app for iPhone and iPod, now available on the App Store.

The application is designed to support customers with their home-improvement projects, and provide tools to help simplify the shopping experience.

HOFFMAN ESTATES, Ill. — Kmart announced that Roger Mason, Jr. of the New York Nets and Deion Branch of the New England Patriots will be featured in the company's social campaign for Protege, the company's exclusive footwear and apparel collection.

Greensboro, N.C. -- Specialty grocer The Fresh Market reported Wednesday that net income for the second quarter rose to $10.5 million from $6.9 million a year earlier.

Sales rose 13.6% to $259.5 million and same-store sales increased 4.6%, marking the seventh consecutive quarter of comps growth of 4% or greater.