News

BENTONVILLE, Ark. — Two years of declining same-store sales at Walmart are poised to end next month when the retailer reports third quarter results that reflect positive momentum from a wide range of initiatives put in place during the past 12 months, judging from comments made by senior executives during an all day meeting with analysts on Wednesday.

PLANO, Texas — JCPenney Co. said Wednesday it will acquire the worldwide rights for the Liz Claiborne family of brands, as well as the United States and Puerto Rico rights for the Monet brand for $267.5 million.

The company has been the exclusive licensee for all Liz Claiborne and Claiborne-branded merchandise in the United States and Puerto Rico since August 2010.

NEW YORK — Uniqlo’s NYC flagship may at first seem out of place amongst its Fifth Avenue neighbors, including luxury brands Tiffany & Co., Bergdorf Goodman, Louis Vuitton and Prada, but the location signifies the brand’s “made for all” mantra and its appeal to customers of all income levels.

SUNBURY, Pa. — Weis Markets reported its third quarter sales increased 6% to $678.6 million and that its comparable-store sales increased 6.5% during the thirteen-week period ending Sept. 24 compared with the same period a year ago.

During the period, the company's net income increased 4.1% to $17 million compared with the same period a year ago.  The company's third quarter earnings per share increased to 63 cents compared with 61 cents per share in 2010.

DEERFIELD, Ill. — Walgreens on Tuesday named Jeffrey Kang and Mike Ellis to its pharmacy, health and wellness division.

Kang will join Walgreens Oct. 31 as SVP health and wellness services and solutions, reporting to both president and CEO Greg Wasson and president of pharmacy, health and wellness Kermit Crawford.

In addition, Mike Ellis has joined Walgreens as VP specialty pharmacy and infusion, reporting to Crawford.

By Mark Friedman, [email protected]

New York City -- Apparel manufacturer and retailer The Jones Group confirmed Tuesday that it is in discussions to divest its jeanswear division for between $350 million to $400 million.

The potential buyer is Israeli clothing maker Delta Galil Industries.

Jones Group, whose brands include Anne Klein and Nine West, said talks should conclude within a month, but cautioned that no deal has been reached. If the two were to reach a deal, Jones said it would use net proceeds for share repurchases.

BENTONVILLE, Ark. - Increased localization of shopper marketing efforts at Walmart is now possible via Facebook following the retailer’s announcement that it would create approximately 3,500 store-specific Facebook pages to serve its nearly 9.5 million fans.

Walmart chief marketing officer Stephen Quinn said the move was an example of the company’s ongoing effort to engage with and listen to customers who desired a more localized experience on Facebook.