News

New York -- When Macy’s reported a 4.2% May same-store sales gain on Wednesday, ahead of the rest of the pack, analysts wondered whether that would set the tone for the rest of the department store players. It did — and it didn’t.

New York -- Target and TJX Cos. both reported better-than-expected results in May, with a 4.4% and an 8% increase in same-store sales, respectively. Wall Street expected Target same-store sales to be up 3.5% in May and forecasted TJX sales to rise 5.3%.

MEMPHIS, Tenn. — May sales at Fred's Inc. increased 6% to $152.1 million from $143.6 million in May 2011. Comparable-store sales for the month rose 1.3% compared with an increase of 0.2% in the same period last year.

Fred's total sales for the first four months of fiscal 2012 increased 4% to $652.6 million compared with $628 million for the same period last year. On a comparable-store basis, year-to-date sales increased 0.1% on top of an increase of 0.8% in the same period last year.

WAYNE, N.J. — Toys"R"Us is continuing its support of Alex's Lemonade Stand Foundation (ALSF), a nonprofit organization dedicated to finding a cure for all children with cancer, through in-store and online fundraising as well as a social media campaign. Beginning this Friday, June 1 through Tuesday, July 31, the company will "Help Fight Childhood Cancer, One Cup at a Time" with an in-store and online fundraising campaign benefiting ALSF.

PHILADELPHIA — Pep Boys has put an end to the proposed merger between itself and investment firm The Gores Group.

The potential merger was first announced on Jan. 30, and The Gores Group has agreed to pay Pep Boys a fee of $50 million and to reimburse Pep Boys for certain merger-related expenses. The special meeting of Pep Boys’ shareholders, which was scheduled to be held on May 30, has been canceled.

Yankee Candle Company president and CEO Harlan Kent is the newest member of the specialty apparel retailer Rue21’s board of directors.

Rue21 is a rapidly expanding specialty apparel retailer that currently operates 810 stores in 46 states

Toys“R”Us chairman and CEO Jerry Storch and Nordstrom Direct president Jamie Nordstrom are among the featured speakers at the Shop.org annual summit.

The annual event organized by Shop.org, a division of the National Retail Federation, will be held September 10 to 12 and the Colorado Convention Center and is billed as the premier gathering for retail e-commerce, digital and multichannel retailers.

Target couldn’t have written a better script for last weekend’s Indianapolis 500, won by Dario Franchitti in the number 50 Target Honda.

Fans of the IndyCar racing series know that Franchitti’s Honda normally bears the number 10, but in recognition of Target’s golden anniversary the car and his uniform bore the number 50. Franchitti had won the Indy 500 on two prior occasions so the fact that he was running well throughout the day was no surprise.

NEW YORK — Nicole by OPI is launching new fall shades of nail lacquer exclusively at Target this fall.

“Nicole by OPI is excited to bring the fashion-forward Target guest new lacquers for the fall season,” stated Suzi Weiss-Fischmann, Nicole by OPI EVP and artistic director. “Not only do the shades add the final touch to runway trends, the shimmery finish [also] adds elegance and depth to these trendy colors.”

The richly pigmented formulas come in shimmering shades of deep blue, gold, purple, mauve and green.

Target this week featured collection of Procter & Gamble’s leading brands under the auspices of a “summer stock-up” sale that offered purchasers of three items a $10 gift card.