News

New York City -- Borders Group, which filed Chapter 11 bankruptcy in February and has announced plans to close about a third of its stores, said it plans to pay key employees as much as $8.3 million in incentives and retention bonuses, Bloomberg reported.

The retailer asked a judge to approve its plan in a filing Thursday in U.S. Bankruptcy Courty in New York. Borders said it has historically compensated employees through incentives.

FRAMINGHAM, Mass. -- Staples, which in February announced plans to positioned itself as a leader in technology, is now looking to become a leader in tablet computers.

SALISBURY, N.C. -- Food Lion announced that one lucky MVP customer will win free groceries for a year.

Customers can scan their MVP cards once a day at the in-store coupon kiosks, and they will be entered for a chance to win free groceries. Customers also can instantly win one of more than 200,000 free national and private brand items starting today through April 19. Free items will be awarded in the form of a coupon on the customer's MVP Savings Center coupon sheet which must be redeemed on the day it is issued.

GRAPEVINE, Texas -- The Nintendo 3DS is drawing quite a buzz, and GameStop announced that it will host events at more than 3,000 of its U.S. stores around the launch of the highly anticipated gaming device.

The company is opening its stores early on March 27, the day the Nintendo 3DS becomes available. GameStop reported that 800 stores nationwide will open at 12:01 a.m. and more than 2,400 stores will open early at 9 a.m.

PLEASANTON, Calif. -- Safeway Inc. announced that it was recognized this week by the Association of Fundraising Professionals with the organization's 2011 Freeman Philanthropic Services Award for Outstanding Corporation.

Walmart International takes center stage next week with investors, as international division president and CEO Doug McMillon and other members of senior leadership offer insight into operations in China and Japan.

Grapevine, Texas -- GameStop Corp. reported Thursday that net earnings for the quarter ended Jan. 29 rose 10.1% to $237.8 million, compared with $215.9 million in the year-ago period.

Total sales increased 4.8% to $3.69 billion, from $3.52 billion. Same-store sales increased 2.6%.

For the year, total sales increased 4.3% to an all-time high of $9.47 billion, in comparison to $9.08 billion in fiscal 2009. Same-store sales increased 1.1%. Net earnings increased 8.1% to a record $408 million.

BENSALEM, Pa.  -- Charming Shoppes has announced the appointment of Anthony Romano as the company's president and CEO and a member of the company's board of directors, and the appointment of Brian Woolf as group president Lane Bryant, effective immediately.