News

Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it has completed the transfer of its private-label credit-card portfolio to Capital One Financial Corp., effective April 1.

Capital One has acquired the more than 20 million existing Kohl’s Charge accounts and through the seven-year agreement will offer private-label credit cards to new and existing Kohl’s customers. According to the department store retailer, the credit-card business accounted for more than 50% of Kohl’s sales in 2010.

Deerfield, Ill. -- Walgreens said Tuesday that sales for the month of March rose 7.6% to $6.28 billion, compared with $5.83 billion in the year-ago period.

Duane Reade stores, acquired in April 2010, contributed 2.8% to the total sales increase for the month.

Same-store sales rose 3% in March, not including Duane Reade stores. Results topped Wall Street expectations.

Walgreens opened 12 stores during March, including three relocations, acquired one store and closed two.

New York City -- Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

Blockbuster did not say how many bidders it attracted, but halls outside the auction room in Manhattan bankruptcy court were packed with attorneys and investment bankers refining their bids throughout Monday, Reuters reported.

NEW YORK -- If consumers were hesitant about providing personal information to retailers, they have even more reason to be paranoid as marketing firm Epsilon reported a number of breaches at several of its clients.

ST. PETERSBURG, Fla. -- HSN announced that Mitchell Hara has been appointed SVP corporate strategy/M&A, a newly created position, effective immediately.  He will report directly to Judy Schmeling, CFO of HSNi.

In his new position, Hara will assist with the overall corporate strategy, identifying and developing new strategic initiatives and leading the strategic planning process for the company.  He will also evaluate and oversee potential strategic partnerships and transactions. 

NEW YORK -- Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported. The chain, which filed Chapter 11 in February, has received several bids other than the opening bid of $290 million from a group of debtholders made in February.

Dish and Icahn have each submitted a bid, The Wall Street Journal reported Friday.

WAYNE, N.J. – Toys“R”Us announced that it has named the former head of one of the world's largest toy companies to serve as president of its U.S. business. Neil Friedman, who most recently served as president Mattel Brands, will now oversee all merchandising, marketing, store operations, merchandise presentation, global sourcing and product development, as well as merchandise planning and allocation for Toys"R"Us' 866 stores and online business in the United States.

MONTVALE, N.J. — Grocer A&P has kicked off a new initiative to expand its Kosher product offerings in time for the Passover holiday season.

From now through April 28, Passover shoppers at select A&P, Pathmark, Waldbaum's and Food Emporium stores serving Jewish communities throughout the tri-state area will find new and improved Kosher grocery selections, the retailer stated. Enhanced offerings include Kosher prepared foods and deli meats.

AMITYVILLE, N.Y. — Sundial has announced that Walgreens has become the exclusive national drug store retail partner for its SheaMoisture hair care line and will carry the products on shelf and online, beginning April 1.

"We are very excited to launch our newest collection at Walgreens," stated Richelieu Dennis, founder and CEO of Sundial Creations, maker of SheaMoisture. "They have been a key partner in the growth of our business and we are enthusiastic about bringing organic hair care products to such a broad consumer base."

LOS ANGELES -- Creative Channel Services announced that it has significantly expanded its partnership with Sears Holdings Corporation by providing the CyberScholar employee-learning platform to five of the retailer's store brands that carry home appliance and consumer electronics products.  CCS has been delivering the CyberScholar solution to Sears' full-line stores and now will deliver product and sales knowledge to Kmart, Sears Home Appliance Showrooms, Sears Appliance & Hardware, and Sears Hometown stores.