Sears Holdings plans to close 46 Kmart stores, 30 Sears and 31 Sears Auto Centers including many before Christmas, according to Seeking Alpha. Nearly 5,500 employees will be laid off as a result of the store closings.
Sir Richard Broadbent has been under pressure to resign his position on the Tesco board following revelations that the company overstated its profits over the past several years.
BBC News -
Beginning next month, Macy's customers will be able to use their smartphones to get local inventory data with help from Google's proximity marketing platform.
Advertising Age (tiered sub.) -
Same-store sales at McDonald's were down for the fourth straight quarter and CEO Don Thompson said the company was looking at categories of products, including organics, as a means to bring more people back to the golden arches.
Bloomberg News -
Perry Caicco at CIBC World Markets wrote a report in which he suggests Target may wind up selling its stores to Walmart or another buyer if it doesn't turn around its business in Canada by the end of next year.
The Globe and Mail -
Japan's biggest e-commerce site operator has opened up an online marketplace to promote goods sold by British merchants.
Financial Times (tiered sub.) -
Greenling specializes in selling organic and locally sourced produce, dairy products and prepared meal kits.
Austin American-Statesman -
Melanie Healey, who heads up Procter & Gamble's North American operations, was once thought as a possible successor to A.G. Lafley as CEO of the consumer brands giant. Yesterday, it was announced she would leave P&G next year.
Cincinnati Enquirer -
Initial claims for state unemployment benefits have fallen three out of the last four weeks, according to Labor Department figures.