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Today is final day for chance to win an iPad!

BY Staff Writer

New York City — Monday, Aug. 15, is the deadline to complete the Chain Store Age/Forest City/Alexander Babbage social media survey, designed to find out what retailers nationwide are doing in terms of social, mobile and other digital media initiatives.

By completing the survey, you will automatically be entered to win a free iPad! Results of the survey will be published in the October issue of Chain Store Age.

Click here to take the survey.

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Lowe’s profit dips in Q2, closed seven stores on Sunday

BY Katherine Boccaccio

Mooresville, N.C. — Lowe’s Cos. reported Monday that profit for the quarter ended July 29 was $830 million, down from $832 million in the year-ago period. The home improvement retailer closed seven underperforming stores on Sunday and trimmed its earnings forecast for the year.

“Despite some recovery in our seasonal business, our performance for the quarter fell short of our expectations," said Robert A. Niblock, CEO.

Net sales edged up 1.3% to $14.5 billion; same-store sales dipped 0.3%.

During the quarter, Lowe’s opened two stores, and said it expects to open about 25 stores in 2011, representing average sq. ft. growth of 1.3%.

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