News

MOORESVILLE, N.C. — Lowe's Monday announced that it would close several stores and discontinue a number of planned new store projects as the company looks to bounce back from a second quarter of declining earnings and flat same-store sales.

The company closed 10 locations on Oct. 16 and said it would close another 10 within the month, following an inventory sell-through.

AUSTIN — Whole Foods is focusing on immune support by offering educational podcasts, in-store lectures, a brochure and a "seasonal wellness shopping list" to customers this fall.

Whole Foods said that the promotion, which is being held during the months of October and November, is part of the Be Good to Your Whole Body campaign.

WOONSOCKET, R.I. — In an effort to reward loyal shoppers, CVS/pharmacy has created a new promotion that allows members of its ExtraCare Rewards program to earn multiple free gift cards by shopping for essentials at more than 7,200 locations nationwide.

SAN FRANCISCO — Old Navy has partnered with Telemundo to launch telenovela-style miniseries for the web. The Spanish-language web novela, "Estilos Robados" (Stolen Styles), is a six part miniseries that launched last Friday, Oct. 14 and will air on Fridays through Nov. 18 on the "Estilos Robados" tab within Old Navy's Facebook page and on Old Navy's Spanish YouTube channel, as well as on Telemundo Movil.

NEW YORK — Deloitte Monday released some disappointing news for retailers who were hoping that consumer spending might get a boost in the months leading up to the holiday season. The Deloitte Consumer Spending Index (Index) plunged in September to its lowest level since May 2009, primarily due to a significant fall in home prices and deterioration in real wages.

The Index, which comprises four components — tax burden, initial unemployment claims, real wages, and real home prices — fell to 2.39 from 2.51 the previous month. 

Juan Pablo Montoya may not have had the year he would have liked on the NASCAR circuit where he drives the number 42 Target Chevrolet, but his collective accomplishments throughout an illustrious racing career have earned him a sport in the Miami Sports Hall of Champions.

Dario Franchitti and the Target Chip Ganassi race team continued their dominance of the Izod IndyCar Series this year, but any planned championship celebration of a third consecutive championship was marred by the death of fellow driver Dan Wheldon this past Sunday.

The departure of two top Target executives in the span of 10 days probably wasn’t on the top of the company’s holiday wish list, but that’s the way the ball bounces in the retail big leagues. Last week, Target announced that Steve Eastman, president Target.com, had left the company to pursue other opportunities.

BALDWYN, Miss. — Hancock Fabrics hass announced that its board of directors has appointed Steven Morgan, the current interim president and CEO and member of the company’s board of directors, to serve as president and CEO, effective immediately. Morgan will continue to serve as a member of the Company’s board of directors.

Competing with Walmart is nothing new for Target, but what appears to be different this holiday season compared with the last few years is, to borrow a football metaphor, Walmart has eliminated its turnovers and is now showing some signs of momentum.

At least that’s what the retailer told financial analysts gathered in Northwest Arkansas last week for an all-day meeting.