Content about Discount stores

June 8, 2011

Target’s board has finalized the decision to locate the company’s Canadian headquarters in Mississauga, Ontario, said president, chairman and CEO Gregg Steinhafel at a shareholders meeting in Pittsburgh on Wednesday.

NEW YORK — Target’s board has finalized the decision to locate the company’s Canadian headquarters in Mississauga, Ontario, said president, chairman and CEO Gregg Steinhafel at a shareholders meeting in Pittsburgh on Wednesday.

May 31, 2011

Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces.

MINNEAPOLIS — Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces.

The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.

May 23, 2011

Kmart parent company Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in a Securities and Exchange Commission filing.

HOFFMAN ESTATES, Ill. — Kmart parent company Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in a Securities and Exchange Commission filing.

Collins will remain with the company until June 10 in order to ensure a smooth transition, Sears noted in the filing.

May 10, 2011

The parent company of Kmart is considering taking its headquarters out of Illinois, according to published reports.

HOFFMAN ESTATES, Ill. — The parent company of Kmart is considering taking its headquarters out of Illinois, according to published reports.

May 5, 2011

The 13.1% increase in same-store sales Target reported for April was toward the low end of the company’s projection of an increase in the mid-teens, and begs the question whether Walmart’s mid-month launch of a new marketing campaign contributed to the weakness.

MINNEAPOLIS — The 13.1% increase in same-store sales Target reported for April was toward the low end of the company’s projection of an increase in the mid-teens, and begs the question whether Walmart’s mid-month launch of a new marketing campaign contributed to the weakness.

April 25, 2011

One has to admire a person who perseveres through hardship and difficulty, and the same goes for companies that keep going and keep trying, no matter what the market throws at them.


April 25, 2011

Target is branching out.


Buoyed by surging profits and customer satisfaction scores, the Minneapolis-based giant is reaching into Canada, preparing a new small-store format for urban areas and going after a bigger share of the nation’s grocery dollar. Target also is spending billions on store renovations, aggressively leveraging a new loyalty card program and growing its commitment to health at its pharmacies and in-store clinics.


April 13, 2011

Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, Dow Jones reported.

NEW YORK — Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, Dow Jones reported.

Speaking to Wall Street analysts, CFO Douglas Scovanner said Tuesday that Target expects to have more than 200 stores in Canada within the next five to 10 years, with the stores generating about $6 billion Canadian ($6.27 billion in U.S. dollars based on Tuesday’s exchange rate).

Target’s initial group of stores will open through the chain’s purchase in January of up to 220 leases held by Hudson's Bay Co.'s Zellers stores.

March 3, 2011

February same-store sales at Target advanced 1.8%, thanks to the addition of fresh food and consumables that are part of an aggressive remodeling program causing more people to shop its stores.

MINNEAPOLIS — February same-store sales at Target advanced 1.8%, thanks to the addition of fresh food and consumables that are part of an aggressive remodeling program causing more people to shop its stores.

The company said more than half of its February same-store sales gain were driven by an increase in transactions combined with a small increase in the average transaction size. The 1.8% gain comes on top of a 2.4% increase in February 2010.

February 24, 2011

Mass merchandiser Kmart had sales of $4.99 billion during fourth quarter 2010 and $15.6 billion for the year as a whole, according to an earnings statement released Thursday by parent company Sears Holdings.

HOFFMAN ESTATES, Ill. — Mass merchandiser Kmart had sales of $4.99 billion during fourth quarter 2010 and $15.6 billion for the year as a whole, according to an earnings statement released Thursday by parent company Sears Holdings.

The sales for the quarter, which ended Jan. 29, were a slight improvement over fourth quarter 2009 sales of $4.92 billion, while the annual sales represented a decline in dollar terms from 2009’s $15.74 billion. Comparable-store sales for the year increased in percentage terms, by 0.7%, while quarterly sales increased by 2.5%.

January 18, 2011

After announcing that its chief marketing officer would serve as the executive committee sponsor of Target’s entrance into the Canadian market, the retailer named a leader for its Target Canada operations.

MINNEAPOLIS — After announcing that its chief marketing officer would serve as the executive committee sponsor of Target’s entrance into the Canadian market, the retailer named a leader for its Target Canada operations.

As president of Target Canada, Tony Fisher will be responsible for building the retailer's team, establishing the headquarters and leading the day-to-day operations. Target said it expects to open 100 to 150 Target stores throughout Canada in 2013 and 2014. Prior to this position, Tony Fisher was promoted to VP merchandise operations.

January 17, 2011

Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.

HOFFMAN ESTATES, Ill. — Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.

For the full year, the company expects a net income of $210 million, with a fourth-quarter income expectation of between $370 million and $450 million, offsetting the company’s past two quarterly losses.

The company also posted up-to-date comparable-store sales for both its Sears Domestic and Kmart stores.

For the quarter-to-date, comparable-store sales for its Sears stores were down 5.3%, with Kmart stores seeing an increase of 3.4%.

January 14, 2011

Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market. In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported.

MINNEAPOLIS — Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market. In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported.

January 13, 2011

Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years.

MINNEAPOLIS — Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years.

The company announced that it has agreed to pay C$1.83 billion to purchase from Zellers, a subsidiary of the Hudson's Bay Co., the leasehold interests in up to 220 sites currently operated by Zellers. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.

January 11, 2011

A 2.3% same-store sales gain at Kmart was not enough to offset a 6% decline at Sears, resulting in an overall 1.7% decline for the combined companies' domestic operations during the five-week December reporting period ended Jan. 1.

HOFFMAN ESTATES, Ill. — A 2.3% same-store sales gain at Kmart was not enough to offset a 6% decline at Sears, resulting in an overall 1.7% decline for the combined companies' domestic operations during the five-week December reporting period ended Jan. 1.

January 4, 2011

Sears Holdings' SVP procurement and finance has been promoted.

HOFFMAN ESTATES, Ill. — Sears Holdings' SVP procurement and finance has been promoted.

Deidra Cheeks Merriwether now holds the title of SVP and president of retail services, succeeding James Haworth. In this role, Merriwether, who joined the corporation in 2001, will be responsible for the oversight and leadership of retail services for the broadline retailer's Kmart and Sears stores.

Merriwether currently serves as a member of Sears Canada's board of directors and is the executive sponsor of the company's African-American Associate Network.

December 28, 2010

Sears has partnered with Sonic Solutions to bring an online movie download service to Sears and Kmart customers.

NOVATO, Calif. — Sears has partnered with Sonic Solutions to bring an online movie download service to Sears and Kmart customers. The new Alphaline Entertainment service, available at Alphaline.roxionow.com, enables the retailers’ customers to download new movies the same day they are released on DVD/Blu-ray.

Sonic is working with Sears on a multiphase rollout that includes making the service available from a broad range of connected devices and ensuring compatibility with studio-supported digital programs.

December 7, 2010

BENTONVILLE, Ark. — Walmart stores have regained a familiar feeling this holiday season, and if senior executives are right, the increased promotional intensity will halt six consecutive quarters of declining same-store sales and put the company on the right track for 2011.


December 7, 2010

Walmart stores have regained a familiar feeling this holiday season, and if senior executives are right, the increased promotional intensity will halt six consecutive quarters of declining same-store sales and put the company on the right track for 2011. The most obvious change is the return of branded feature displays and four-sided fixtures to the main aisles of Walmart’s 3,600 U.S. supercenters and discount stores. As Walmart has moved in a new and familiar direction under a different senior leadership team and a restructured merchandising organization focused on the familiar brand promise of everyday low prices, it has sought to retain the best elements of its Project Impact strategy while modifying those that negatively affected sales, the most notable of which was the elimination of feature displays.

Walmart stores have regained a familiar feeling this holiday season, and if senior executives are right, the increased promotional intensity will halt six consecutive quarters of declining same-store sales and put the company on the right track for 2011. The most obvious change is the return of branded feature displays and four-sided fixtures to the main aisles of Walmart’s 3,600 U.S. supercenters and discount stores.

December 2, 2010

Same-store sales surged 5.5% at Target during November, exceeding the company’s guidance and analysts’ expectations for a low-single digit gain.

MINNEAPOLIS — Same-store sales surged 5.5% at Target during November, exceeding the company’s guidance and analysts’ expectations for a low-single digit gain. The company said the number of people shopping its stores as measured by transactions increased nearly 4% and average transaction sizes also were up slightly with broad-based growth throughout the store.

The company is looking for December comps to increase in the low- to mid-single digit range.

September 29, 2010

Kmart is introducing its private-label brand, Smart Sense, offering customers products for almost 20% less...

HOFFMAN ESTATES, Ill. — Kmart is introducing its private-label brand, Smart Sense, offering customers products for almost 20% less than the leading brand. The Smart Sense line currently consists of hundreds of products available in Kmart stores, and will expand to more than 1,200 items by early 2011.

September 26, 2010

Target reportedly is scaling back with a new small urban format....

MINNEAPOLIS — Target reportedly is scaling back with a new small urban format.

Announced on Friday at Target Field in Minneapolis, the big-box retailer said it will develop stores that will be 60,000 sq. ft. to 100,000 sq. ft., compared with its typical 125,000-sq.-ft. to 180,000-sq.-ft. size.

The first smaller-scale store is slated to open in Seattle in 2012, followed by several other cities.

September 23, 2010

Kmart tapped "Modern Family" star Rico Rodriguez to unveil the retailer's Fab 15 toy list...

HOFFMAN ESTATES, Ill. — Kmart tapped "Modern Family" star Rico Rodriguez to unveil the retailer's Fab 15 toy list for the upcoming holiday season.

As Kmart's "fun ambassador," Rodriguez, who plays Manny on the hit ABC show, revealed the list in New York's Times Square on Friday. Must-have toys featured on the list this year include Paper Jamz guitars, Hot Wheels R/C stealth rides, Loopz and more.

August 17, 2010

Shortly after its retail rollout in Duane Reade and GNC, Dream Water has formed new...

January 20, 2010

Target is set to outline its growth opportunities for the next five to 10 years...