FINANCE

Staples Eyes Expansion

BY CSA STAFF

Framingham, Mass., Staples Inc. has announced that it is on track to deliver a 15% to 20% 3Q profit increase, will open 20 to 25 stores by the end of next year, and said it is upping its long-term goal of private-label sales to 30%.

In an announcement that precedes its analyst conference, Staples also said it is testing a stand-alone copy and print shop to compete with Kinko’s; four will open in Boston this month.

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News

Target in Store Blitz

BY CSA STAFF

Minneapolis, Target will open 59 new stores nationwide Sunday. After the opening of the new locations, Target will have 1,494 stores in 47 states across the United States.

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MARKETING/SOCIAL MEDIA

Wal-Mart Pulls Plug on Networking Site

BY CSA STAFF

Bentonville, Ark., Wal-Mart Stores has discontinued its teen social-networking initiative “The Hub” after 10 weeks, according to a report by CNNMoney.com. The site featured the chain’s back-to-school clothing and related offerings. Visitors also could build their own personal pages, similar to what is offered on Myspace.com.

Wal-Mart said that the on-line feature was a back-to-school marketing initiative and was intended to end when the back-to-school season was completed.

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