Finance & Capital Management

Despite seeing increases in net income and sales for the first quarter, TJX — parent company of TJ Maxx and Marshalls — experienced weakness in apparel sales and missed analysts’ expectations.

Net income for the quarter was $454.32 million, compared to $452.89 million from the prior-year quarter. Net sales increased 5% to $6.49 billion from $6.19 billion, but were weaker-than-expected — analysts were anticipating $6.6 billion.

Same-store sales remained flat.

As HSN breaks ground on its fourth Habitat for Humanity of Pinellas County home this month, HSNi Cares, the philanthropic arm of HSN's parent company HSN Inc, is set to launch a national campaign June 1 in support of Habitat for Humanity International.

Customers from these brands will have the opportunity to make a donation in support of the campaign when making purchases online and over the phone from June 1-30.

Las Vegas — DeBartolo Development has retained JLL Retail to manage the new Ka Makana Ali’i shopping center in Kapolei, West Oahu, considered the fastest growing area in Hawaii. The $500-million project will span 67 acres of Department of Hawaiian Home Lands at the intersection of the Kapolei and Kualaka’i Parkways. Upon completion Ka Makana Ali’i will be the third largest shopping center in Hawaii.

Minneapolis – Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012. According to a regulatory filing, Target decided to reduce Steinhafel’s total compensation after holding meetings and calls with shareholders owning 40% of total company shares and two proxy advisory firms.

Wallingford, Conn. - Robert Price, former senior VP and chief marketing officer for CVS/pharmacy, has been named president of Edible Arrangements LLC. At CVS/pharmacy, Price led all marketing, advertising, sales promotion, e-commerce, customer insights, store design and customer loyalty programs.

Prior to CVS/pharmacy, Price's held positions with Wawa Food Markets; H-E-B Grocery Stores; Imasco Limited (the former parent company of Hardees and Roy Rogers Restaurants); and The Monitor Company, a strategy consulting firm.

Hamilton, Bermuda - Signet Jewelers Ltd. has closed the offering of $400 million senior unsecured notes due 2024 by Signet U.K. Finance PLC (a wholly owned indirect subsidiary of Signet). The notes will bear interest at a rate of 4.7% per year and mature on June 15, 2024.

Deerfield, Ill. – The Walgreens Co. is reportedly considering making a purchase offer for U.K.-based drugstore chain Alliance Boots. Walgreens, which owns 45% of the company, has an option to purchase the remaining 55% between February and August 2015, but according to The Telegraph may try to make an offer even sooner.

Toronto - Sears Canada Inc. has entered into an agreement for the sale of its 15% minority ownership interest in the Centre commercial Les Rivières shopping centre in Trois-Rivières, Quebec, for $33.5 million. Ivanhoé Cambridge, who holds the center in a joint arrangement with Sears Canada, is purchasing the 15% interest that it does not already own from Sears.

Canton, Mass. – Dunkin’ Donuts is recruiting franchisees in Roanoke, Virginia. This month, the retailer signed a multi-unit store development agreement with existing franchisee Greg Nigro to develop 13 new restaurants throughout Richmond, Virginia.

Minneapolis – The vast majority of Target customers intend to continue spending the same amount of money or more there in the next year as they did before the December 2013 data breach. According to a new Bloomberg National Poll of 1,020 Target customers, 85% of respondents will spend the same amount of money, 7% will spend more and 7% will spend less, with 1% having no opinion.