News

WASHINGTON — President Barack Obama on Friday announced nearly $4 billion in combined federal and private-sector energy upgrades to buildings over the next two years. These investments will save billions in energy costs, promote energy independence, and, according to independent estimates, create tens of thousands of jobs in the hard-hit construction sector.

BENSALEM, Pa. — Charming Shoppes reported Thursday that its loss in the 3Q narrowed to $13 million from a loss of $18.8 million a year earlier. Revenue in the quarter dropped to $429.7 million, from $463.6 million last year, and same-store sales decreased 4%.

The retailer said it is conducting a strategic review of its operations, which includes the divestiture of its Fashion Bug business and the expansion of its Lane Bryant brand.

NEW YORK — Increases in Nook products helped offset a decline in physical book stores at Barnes & Noble during the second quarter. Total sales for the period ended Oct. 29, 2011, slipped 0.6% to $1.89 billion from $1.90 billion in the year-earlier quarter, with the biggest drop occurring at the chain’s college stores. Online revenue grew 17% in the quarter to $206 million, which the company attributed to increases in sales of ebooks and its Nook line of e-reading devices.

MONTVALE, N.J. — A&P announced that it has reached an agreement with its labor unions that would help the retailer on its path out of bankruptcy.

WOONSOCKET, R.I. — CVS Caremark has announced the appointment of Randy Falkenrath as SVP specialty pharmacy, with responsibility for the ongoing development of clinical programs and product management to support the company's specialty pharmacy business.

Chicago -- More customers shopped the Sunday before Thanksgiving than the days following Black Friday, according to ShopperTrak, a leading provider of retail and mall foot-traffic counting services.

New York City -- Michael Kors Holdings Ltd. is looking to raise as much as $792.3 million in an initial public offering that could value the company at $3.63 billion.

The luxury brand, which has 169 stores in North America and 34 in Europe and Japan, said in a regulatory filing that it is offering 41.7 million shares on behalf of existing shareholders for $17 to $19 each.

New York City -- Barnes & Noble posted a worse-than-expected net loss of $6.6 million for the second quarter, compared with a net loss of $12.6 million a year ago.

Total sales for the period ended Oct. 29, 2011, slipped 0.6% to $1.89 billion from $1.90 billion in the year-earlier quarter, with the biggest drop occurring at the chain’s college stores. Online revenue grew 17% in the quarter to $206 million, which the company attributed to increases in sales of ebooks and its Nook line of e-reading devices.

SAN BRUNO, Calif. — Walmart is looking to help holiday shoppers find the perfect gift this season with the launch of a new social shopping application.

ISSAQUAH, Wash. — The nation’s leading warehouse club operator maintained its momentum in November by posting a 6% increase in same-store sales at U.S. clubs excluding the beneficial effect of higher year-over-year gas prices.