OPERATIONS

Staples to offer Martha Stewart-branded office products

BY Staff Writer

Framingham, Mass. — Staples has partnered with Martha Stewart Living Omnimedia to create a new line of home office items that have female appeal.

The line, to be called Martha Stewart Home Office, will be made by Avery Dennison Corp. and will include some 300 products. The items will make its debut in Staples stores in early 2012.

“To manage works in progress and keep accurate records, it helps to have a good system of organization and well-designed products that are as functional as they are beautiful,” said Martha Stewart, founder of Martha Stewart Living Omnimedia, in a statement. “I am happy to be working with Avery Dennison and Staples to offer consumers affordable, quality products that will inspire them to enhance, improve and brighten their home office environment.”

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OPERATIONS

Toys ‘R’ Us to make more than 40,000 holiday hires

BY Staff Writer

Wayne, N.J. — Toys “R” Us said Thursday that it will hire more than 40,000 employees to staff its U.S. stores and distribution centers this holiday season. In addition, employment opportunities will be available at the company’s 10 distribution centers, including the newest facility in McCarran, Nev.

Toys “R” Us’ 2011 holiday hires are in line with previous years, when the company hired between 35,000 and 45,000 seasonal workers.

Hiring for positions launched this week and continues through November.

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FINANCE

Rite Aid narrows loss in Q2

BY Staff Writer

Camp Hill, Pa. — Rite Aid Corp. reported Thursday that it narrowed its loss in the quarter ended Aug. 27 to $94.7 million, from $199.3 million in the year earlier period.

Revenue rose 1.8% in the quarter to $6.3 billion, and same-store sales – as previously reported – increased 2.2%.

The drugstore retailer has modified its outlook, now expecting smaller losses for fiscal 2012 than originally anticipated.

“We are pleased with the continued improvement in our top-line results, highlighted by three consecutive quarters of same-store sales growth,” said John Standley, Rite Aid president and CEO.

Rite Aid launched the rollout of its new wellness store format in the second quarter, with 40 wellness stores completed as of the end of the second quarter. Also during the quarter, the company relocated five stores, remodeled 35 stores and closed seven.

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