News

GOODLETTSVILLE, Tenn. — Surging profits and a 6.7% first quarter same-store sales increase prompted Dollar General to raise its full-year profit forecast by three cents.

Dollar General shows no signs of slowing down this year after posting first-quarter results that saw the company’s total sales increase 13% to nearly $3.5 billion and net income increase 36% to $213 million. The 6.7% comp increase was driven by an increase in customer traffic and average transaction size, according to the company.

By William Gindlesperger, [email protected]

Innovation is required if the United States is to regain the level of productivity that it enjoyed toward the end of the 19th Century through the mid-20th Century. However, innovation by itself is not enough. Just as our parents and grandparents adopted electricity, the automobile, credit cards and airplanes in the period from 1870-1950, businesses and organizations of the 21st Century must embrace change.

Greenpeace has released its latest "Carting Away the Ocean" report, and Target should be pleased with where it ranked on the list. With a score of 6.4, Target placed fifth and earned an orange, or "passing," rating. While that may not seem so great, it is important to keep in mind that only two retailers, Safeway and Whole Foods received green, or "good" ratings for their scores of 7 and 7.1, respectively -- the first time any retailer has recieved such distinction.

ST. PAUL, Minn. — Supervalu banner Cub Foods has partnered with a local produce grower to provide year-round local produce to locations throughout the Twin Cities.

NEW YORK — Macy's is celebrating LGBT Pride Month this June with a number of initiatives including in-store events and participation in marches around the country.

Deerfield, Ill. -- Walgreens reported Tuesday that net sales for the month of May dropped 1.6% to $5.98 billion, compared with $6.08 billion in the year-ago period.

Total front-end sales edged up 0.3%, and same-store sales dipped 1%.

Total sales for the third quarter of fiscal 2012 were $17.77 billion, down 3.3% from $18.37 billion in the third quarter last year.

MATTHEWS, N.C. — Family Dollar is getting the Redbox treatment.

The discount store chain announced it inked a multiyear deal with the Coinstar subsidiary, through which Redbox kiosks will be installed at Family Dollar locations across the United States. Family Dollar customers will be able to rent new release DVDs at Redbox for $1.20 a night, Blu-ray discs for $2 a night and games for $2 a night.

Minneapolis -- Christopher & Banks Corp. reported Tuesday a loss of $13.4 million, compared with a loss of $8.2 million in the year-ago period.

Net sales dropped to $93.6 million, from $110.4 million in the comparable period last year. Same-store sales decreased 15%.

“Our financial results reflect continued customer resistance to the residual merchandise assortment that consisted of styles that were too updated and priced too high while lacking in key categories,” said Joel Waller, president and CEO.