Content about Minneapolis

May 28, 2013

Target has announced that it has expanded its Beauty Concierge program to 41 Chicagoland stores and introduced the program to 96 existing stores in the Los Angeles and Orange County area.

MINNEAPOLIS — Target has announced that it has expanded its Beauty Concierge program to 41 Chicagoland stores and introduced the program to 96 existing stores in the Los Angeles and Orange County area.

In addition, the program will launch in 27 stores in Washington, D.C., Northern Virginia and Baltimore area and 36 stores in Minneapolis, with approximately 200 stores implementing the program in 2013.

May 22, 2013

Target will donate a quarter million dollars to disaster relief efforts in Oklahoma following a deadly tornado that killed at least two dozen people and left many more homeless.

MINNEAPOLIS — Target will donate a quarter million dollars to disaster relief efforts in Oklahoma following a deadly tornado that killed at least two dozen people and left many more homeless.

May 22, 2013

Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

MINNEAPOLIS — Colder weather and more conservative shoppers contributed to a drop in Target Corp.'s first-quarter 2013 profits, but the company's underlying business remains healthy, executives said Wednesday morning in a conference call with investors.

"While we are not satisfied with this quarter's performance, we remain highly confident in our strategy," president, chairman and CEO Gregg Steinhafel said during the call.

May 17, 2013

Target is looking to compete with the likes of Netflix and Hulu with a video-streaming service it is beta testing with employees, according to published reports.

NEW YORK — Target is looking to compete with the likes of Netflix and Hulu with a video-streaming service it is beta testing with employees, according to published reports.

The Minneapolis-St. Paul Business Journal reported that the mass merchandise retailer was testing Target Ticket, which currently offers access to 15,000 movies and TV shows. Features of the new service include parental controls, streaming and downloading for playback on desktop computers and mobile devices.

May 17, 2013

Supervalu successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement.

MINNEAPOLIS — Supervalu on Thursday successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement. The amendment reduces the interest rate margin from 5% to 4% and reduces the LIBOR floor from 1.25% to 1% for LIBOR based loans. 

May 16, 2013

Target has launched the fall 2013 collection of Sonia Kashuk beauty products at its stores, the mass merchandise chain said.

MINNEAPOLIS — Target Corp. has launched the fall 2013 collection of Sonia Kashuk beauty products at its stores, the mass merchandise chain said.


Pictured here: The Sonia Kashuk travel duffle bag.

May 13, 2013

Superheroes like Superman, Batman, Green Lantern and others will be showing up at Target stores this summer.

MINNEAPOLIS — Superheroes like Superman, Batman, Green Lantern and others will be showing up at Target stores this summer.

The mass merchandise retailer has signed a deal with Warner Bros. Consumer Products and DC Entertainment to introduce Justice League merchandise. Other characters in the comic franchise include Aquaman, Cyborg, The Flash and Wonder Woman. The collection will appear at all Target stores on Sunday and will include products like melamine dinnerware, sand toys and beach towels. Financial terms of the deal were not disclosed.

April 29, 2013

Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said. The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

MINNEAPOLIS — Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said.

The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

April 29, 2013

Target will feature electronics picked by the editors of Wired magazine, under a deal between the two.

MINNEAPOLIS — Target will feature electronics picked by the editors of Wired magazine, under a deal between the two announced Monday.

Target said the custom-curated assortment of products would include four products available for the first time at Target, including personal fitness, photography, digital music streaming and others.

April 24, 2013

Supervalu posted sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, the company said Wednesday.

MINNEAPOLIS — Supervalu posted sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, the company said Wednesday.

That result compared with sales of $3.98 billion and a loss of $424 million in fourth quarter 2012.

For the fiscal year, sales were $17.1 billion, compared with $17.3 billion in fiscal year 2012, while the company incurred a loss of $1.46 billion, compared with a $1.04 billion loss the year before.

April 24, 2013

Target will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said.

MINNEAPOLIS — Target Corp. will renovate libraries at more than two dozen schools in need across the country this year under a program that will also include book donations and technology upgrades, as well as the option to have a Target-supported food pantry built, the mass merchandise retailer said Wednesday.

April 22, 2013

More than half of allergy sufferers seek advice from pharmacists and doctors, a new survey by Target has found.

MINNEAPOLIS — More than half of allergy sufferers seek advice from pharmacists and doctors, a new survey by Target has found.

April 16, 2013

Target has lowered its earnings expectations for first quarter 2013, the mass merchandise retailer said Tuesday.

MINNEAPOLIS — Target Corp. has lowered its earnings expectations for first quarter 2013, the mass merchandise retailer said Tuesday.

The Minneapolis-based chain said it expected same-store sales growth in the quarter to be about flat over first quarter 2012 due to sales trends that have been weaker than expected, particularly in seasonal and weather-sensitive merchandise categories. As a result, earnings-per-share guidance is expected to be less than $1.10; the company's original guidance had stated earnings would be $1.10-$1.20 per share.

April 12, 2013

Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

 

April 3, 2013

Supervalu announced additional changes at the senior level as Sam Duncan, Supervalu president and CEO, finalizes his executive leadership team.

MINNEAPOLIS — Supervalu on Wednesday announced additional changes at the senior level as Sam Duncan, Supervalu president and CEO, finalizes his executive leadership team.

Sherry Smith, EVP and CFO, will leave the company at the end of May. Smith has served as the company’s CFO since her appointment in December 2010. She has spent 26 years with Supervalu and previously served as SVP, finance. The company plans to announce a new CFO at a later date.

March 26, 2013

Supervalu on Tuesday announced plans to reduce its national workforce by an estimated 1,100 positions.

MINNEAPOLIS — Supervalu on Tuesday announced plans to reduce its national workforce by an estimated 1,100 positions. The reductions include both current positions and open jobs that will not be filled.

March 26, 2013

After its fall season-inspired yogurts, Yoplait, a General Mills brand, is bringing two cocktail-inspired additions to store shelves this spring.

MINNEAPOLIS — After its fall season-inspired yogurts, Yoplait, a General Mills brand, is bringing two cocktail-inspired additions to store shelves this spring: Yoplait Light piña colada and Yoplait Original cosmopolitan-flavored yogurt.

Yoplait Light piña colada contains 5 g of protein per 6 oz.-serving with 90 calories and Yoplait Original cosmopolitan contains 5 g of protein per 6 oz.-serving with 170 calories. Both flavors also are a good source of calcium and vitamin D.

March 22, 2013

About $209.3 million worth of Target's debt has been put up for sale as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

MINNEAPOLIS — About $209.3 million worth of Target Corp.'s debt has been put up for sale as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

Target announced plans to purchase $170 million in 6.75% debentures due 2028, $154.9 million in 6.65% debentures due 2028 and $354 million in 7% debentures due 2031.

The company said the $209.3 million tendered so far represented 20.31%, 25.22% and 38.32% of the totals of the three respective security titles.

 

March 22, 2013

Supervalu on Friday named several executives to the company's leadership team one day following the closing of its divestiture of five retail banners to AB Acquisition.

MINNEAPOLIS — Supervalu on Friday named several executives to the company's leadership team one day following the closing of its divestiture of five retail banners to AB Acquisition. 

March 21, 2013

Supervalu announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

MINNEAPOLIS — Supervalu on Thursday announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption. 

March 15, 2013

General Mills' Green Giant brand is bringing two new product offerings to store shelves, the company announced.

MINNEAPOLIS — General Mills' Green Giant brand is bringing two new product offerings to store shelves, the company announced.

New Green Giant Veggie snack chips will be available in two flavors: Roasted Veggie Tortilla Chips Zesty Cheddar and Multigrain Sweet Potato Chips Sea Salt. The Zesty Cheddar tortilla chips contain 17g of whole grains and the Sweet Potato Chips have 40% less fat than regular potato chips.

March 15, 2013

Target has purchased two online retailers of cooking equipment in a move designed to expand its cooking and kitchenware business, said the mass merchandise retailer, which has lately made major investments in multichannel retailing.

MINNEAPOLIS — Target Corp. has purchased two online retailers of cooking equipment in a move designed to expand its cooking and kitchenware business, said the mass merchandise retailer, which has lately made major investments in multichannel retailing.

Target announced the purchase of Cooking.com and CHEFS Catalog, both of which will continue to operate under their current names as a single, wholly owned subsidiary of Target. Financial terms of the deals were not disclosed.

March 14, 2013

Target has sold its consumer credit card portfolio to TD Bank Group for $5.7 billion, the mass merchandise retailer said.

MINNEAPOLIS — Target Corp. has sold its consumer credit card portfolio to TD Bank Group for $5.7 billion, the mass merchandise retailer said.

March 6, 2013

MOM Brands announced new additions to its brand portfolio with Spooners ready-to-eat cereals. They are available in Mixed Berry Multigrain, Cinnamon Multigrain, Frosted Multigrain and Chocolate with Chocolate Chips.

MINNEAPOLIS — MOM Brands today announced new additions to its brand portfolio with Spooners ready-to-eat cereals. The cereals come packaged in stand-up gusseted bags, which sit on the shelf like a box, yet contain 75% less consumer packaging waste than comparably sized bag-in-box, ready-to-eat cereals.

March 4, 2013

Supervalu announced several changes to its executive and banner retail leadership teams, as it continues preparations to move forward with a focus on serving wholesale grocery operators, growing its hard discount format and running a smaller, more efficient retail operation following the close of its previously announced transaction with AB Acquisition (Albertson's LLC).

MINNEAPOLIS — Supervalu on Monday morning announced several changes to its executive and banner retail leadership teams, as it continues preparations to move forward with a focus on serving wholesale grocery operators, growing its hard discount format and running a smaller, more efficient retail operation following the close of its previously announced transaction with AB Acquisition (Albertson's LLC).