Consumer Affairs & Relations

Minneapolis — Target announced its donation of funds and product to support tornado relief efforts in Minnesota.

The funds, which totaled $50,000, will help the efforts of the American Red Cross and Salvation Army.

“We take seriously our responsibility as a retailer, employer and community member to aid in times of need,” Target chairman, president and CEO Gregg Steinhafel said. “Before and after a crisis, communities can count on Target.”

Memphis, Tenn. — Strong third quarter results at AutoZone caused shares to surge on Tuesday and pushed the company’s stock toward the $300 mark.

Boca Raton, Fla. — After serving seven months in an interim capacity, Office Deport made a surprise decision and named long-time board member Neil Austrian as its new chairman and CEO. The announcement ends a lengthy search that began last fall when former chairman and CEO Steve Odland left the company on Nov. 1, amid deteriorating business results and Austrian was tapped to serve in an interim capacity. He had previously served in an interim role prior the company’s appointment of Odland.

WASHINGTON — An Associated Press/GfK poll released Friday determined that rising gas prices will cause “serious” hardship for as much as 41% of Americans.

Almost 3-in-4 adults acknowledged that $4 per gallon or more at the pump will at least cause some hardship.

Hoffman Estates, Ill. — 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 an SEC filing.

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

Target CFO Doug Scovanner moderated analysts’ second-quarter and full-year earnings expectations slightly, although it can at times be difficult to tell given the language used to communicate in the Wall Street guidance game.

York, Pa. -- Bon-Ton Stores said Thursday that its first-quarter loss grew as it booked hefty debt-related charges and sales declined almost 2%. Management blamed unseasonably cold and wet weather for weak sales of seasonal apparel, which forced the retailer to take markdowns and other adjustments.

The company reported a loss of $36 million for the three months ended April 30, compared with a loss of $23.5 million in the same period last year.

SAN FRANCISCO — The rising cost of goods and a challenging economic environment took its toll on Gap Inc.'s first-quarter sales and earnings. Gap Inc. reported that net income for the first quarter decreased 23% to $233 million compared with $302 million for the first quarter last year. First quarter diluted earnings per share was 40 cents.