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New York -- J.C. Penney chairman and CEO Ron Johnson on Monday sent out an email to the chain’s customers detailing how it is returning to the pricing policies its founder James Cash Penney intended. "While you will see many changes, you can rest assured that we'll never lose sight of our founder's values," Johnson wrote. "When James Cash Penney built his first retail stores over a century ago, he called them 'The Golden Rule,' because treating customers with respect was his highest priority." Johnson also described some of the changes going on in the company’s stores. “We've

Woonsocket, R.I. -- CVS Caremark Corp. reported Tuesday that profit for the quarter ended June 30 leaped 18.4% to a record $966 million from $816 million last year, boosted by the contractual impasse between rival Walgreens and Express Scripts. Revenue for the quarter climbed 16.3% to $30.7 billion from $26.4 billion, missing Wall Street’s estimated $31.02 billion in revenue. Front-end same-store sales increased 2.3% for the quarter. CVS has raised its forecast for the full year based on the strength of its performance. “With our stable business and differentiated offerings, we remain very well positioned in the marketplace," said

Nike Inc. regained its title as the nation's top seller of collegiate licensed apparel, according to the Collegiate Licensing Co. This gear was released in April to celebrate the 's NCAA men's basketball championship. Nike Inc. is once again the nation's top seller of licensed collegiate apparel, returning to the No. 1 spot after a two-year absence. Atlanta-based Collegiate Licensing Co., a division of sports marketing giant IMG, on Monday The year-end report doesn't give specific revenue figures for licensees, but said collegiate-licensed merchandise achieved $4.6 billion in retail sales last year, with royalties going back to the universities

Convenience stores are adding Amazon.com web lockers in the San Francisco area. Amazon.com has been expanding its Locker system after testing services in c-stores in the Seattle, NYC, London and the Virginia-area. The addition of the Northern California locker locations brings the total to at least 50 locker sites in the U.S., according to the company’s Website. The lockers allow customers to have their online purchases delivered and stored at convenience stores until they pick them up. The locker banks have been placed at c-stores and drug stores so that consumers can pick up packages at a time that’s

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First-of-its-kind Tempur-Pedic Store Now Open In Greater Boston at the Natick MallBOSTON, Aug. 7, 2012 /PRNewswire/ -- Tempur-Pedic International Inc. (NYSE: TPX), the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, announced today that its premiere retail store – the very first of its kind – is now open. Conceived to immerse consumers in the brand experience in a way not possible before, this first Tempur-Pedic® flagship store invites shoppers to explore the full product line in one place, at their own pace, to discover first hand why Tempur-Pedic owners love their beds. Now open in

As part of its new retail strategy, J.C. Penney has announced plans to transform its department stores into a collection of brand shops, the first of which are debuting this month for the back-to-school season. The transformation, which will see J.C. Penney stores divided into 80 to 100 brand shops over the next four years, began last week with the unveiling of three shops — Levis, i jeans by Buffalo and The Original Arizona Jean Co. — in close to 700 stores nationwide.

eBay cancelled what's thought to be thousands of listings over the weekend after a glitch wiped out critical data from the item descriptions. eBay sent an email to those affected promising to issue double refunds to sellers who paid insertion fees and must now edit the listings to add back in the data and then relist them. eBay sellers were initially alarmed over the weekend when some of their listings were cancelled due to supposed "Duplicate Listing" policy violations. 

Richard Schulze, the founder of Best Buy, wants to buy the company for $24 to $26 per share in a deal that would value the company at more than $8 billion. CNBC's David Faber has the details.

NORTH BERGEN, N.J., Aug. 6, 2012 /PRNewswire/ -- The Vitamin Shoppe announced today that Stephen Bontempo has joined The Vitamin Shoppe as Vice President of e-Commerce, reporting to Lou Weiss, Chief Marketing Officer. "Stephen brings a tremendous amount of e-Commerce expertise to our team, as well as solid omnichannel success," said Lou Weiss. "We're excited to have him here as we continue to grow our e-commerce business." Before joining The Vitamin Shoppe, Mr. Bontempo was the Senior Vice President e-Commerce and Catalog for Fanatics, Inc/GSI Commerce. He was intimately involved in the strategy of the ecommerce businesses