Consumer Affairs & Relations

Minneapolis -- Target Corp. reported Thursday net income of $637 million for the third quarter, compared with $555 million in the prior-year period and beating Wall Street expectations.
 
The retailer previously reported that sales rose 3.4% to $16.60 billion in the quarter, and same-store sales climbed 2.9%.

Target is forecasting a fourth-quarter earnings range that at the high-end tops estimates.

A new relationship with Citi Retail Services gives OfficeMax another benefit to tout when serving small business customers.

The retailer worked with Citi to launch the new store-branded credit card tied to the OfficeMax MaxPerk Rewards program which allows customers to receive a $25 reward for every $500 spent on qualified purchases. In addition, the no-annual fee product provides special financing offers, flexible payment options a dedicated line of credit for business expenses and detailed tracking of purchases.

Alan Hoffman, former deputy chief of staff to Vice President Joe Biden, is the new SVP of global public policy and government affairs at PepsiCo.

New York -- Saks Inc. reported Tuesday that net income for the third quarter climbed 27.2% to $22.6 million, compared with $17.8 million in the same period last year. Results surpassed analysts’ expectations.
 
Revenue edged up 3% to $713.2 million, widely missing Wall Street’s expected $762.6 million in revenue. Same-store sales rose 3.3%.

Washington — Target, Walmart and McKesson were each recognized Friday as one of America’s more community-minded companies as part of the The Civic 50 — the first scientific evaluation to rank the companies that best use their time, talent and resources to improve the quality of life where they do business. 

The survey was conducted by the National Conference on Citizenship and Points of Light, and was published in the Nov. 9 issue of Bloomberg Businessweek.

Dallas -- Zale Corp. today announced the addition of consumer finance company, Genesis Financial Solutions, Inc., to its U.S. alternative financing program.

The partnership with Genesis is consistent with the company’s strategy to enhance access to financing for its customers. This new financing option, which became available in October, is offered in Zales, Zales Outlet and Gordon’s retail stores.

Minneapolis -- Best Buy has hired Sharon McCollam, formerly CFO of Williams- Sonoma Inc., as CFO, beginning Dec. 10.

McCollam, 50, had been COO and CFO at the home goods retailer before retiring. She also takes the title of chief administrative officer at Best Buy.

McCollam replaces James Muehlbauer, who said he was leaving in October. Muehlbauer will continue to advise the company until the end of the fiscal year in February.

Brooklyn, N.Y. -- West Elm, a division of Williams-Sonoma, announced that it will open store in Indianapolis on Nov.15.

Located in The Fashion Mall at Keystone, it will be the first West Elm in Indiana. Through a partnership with Etsy, the store will feature a locally made collection of decorative accessories from artists in the Indianapolis area.

Dallas -- Zale Corp. announced the addition of Genesis Financial Solutions to its U.S. alternative financing program. The new financing option, which became available in October, is offered in Zales, Zales Outlet and Gordon’s retail stores.