FINANCE

Target to stop reporting monthly sales

BY Marianne Wilson

New York — Target Corp. will soon join the ranks of retailers who are no longer reporting monthly same-store sales. The discounter on Thursday said it will no longer report comparable sales, beginning in fiscal 2013.

“This decision is based on discussions with many of our investors and is consistent with the practice of the vast majority of our retail peers,” said John Mulligan, CFO, Target. “We believe aligning our sales guidance and reporting with disclosure of our quarterly financial results will create a longer-term focus and provide greater understanding of our sales results in the context of our overall financial performance.”

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OPERATIONS

Report: Wal-Mart sued in Florida for gender discrimination

BY Staff Writer

New York — Three female employees of Wal-Mart Stores Inc. filed a lawsuit Thursday in federal court in South Florida claiming the company discriminates against women in areas such as wages and promotion opportunities, the Associated Press reported.

The potential class-action lawsuit follows similar lawsuits recently filed in Tennessee, Texas and California. It also follows a 2011 U.S. Supreme Court decision that tossed out a national gender bias lawsuit seeking to represent some 1.6 million female Wal-Mart workers.

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STORE SPACES

Kroger honored for energy efficiency

BY Marianne Wilson

Cincinnati — The Kroger Co. has received the Alliance to Save Energy’s top award, the “Galaxy” Star of Energy Efficiency.

The company utilizes a variety of practices to increase energy efficiency, employing technology such as LED lights and engaging store associates in energy savings initiatives. As a result, Kroger has reduced its energy use by 32% since the year 2000 – saving enough electricity to power every single-family home in Columbus, Ohio, for one year. These initiatives have also saved Kroger more than $100 million per year in energy costs.

More information about Kroger’s sustainability efforts can be found at Sustainability.kroger.com.

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