Finance & Capital Management

NEW YORK — Avon Products announced that its board of directors elected Douglas Conant to the board, effective immediately.

NEW YORK — Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.

Union, N.J. -- Bed Bath & Beyond Inc.’s profit in the fourth quarter rose to $351.0 million, from $283.5 million a year ago.

Revenue for the quarter ended Feb. 25 increased 9.1% to $2.73 billion. Same-store sales were up 6.8%.

In a conference call with analysts, the chain said it anticipates opening a total of 40 stores across all its concepts this fiscal year.
 

PITTSBURGH — Dick's Sporting Goods is looking into opportunities beyond the United States and has agreed to make a 20 million pounds Sterling strategic investment in JJB Sports plc, a leading U.K. sports retailer.

New York -- The ax has fallen at J.C. Penney Co. The company on Thursday laid off 600 workers from its corporate headquarters Plano, Texas, as its looks to streamline its business model amid a major reinvention of the business. The staff reduction, which equaled 13% to 14% of the headquarters staff, did not include any senior executives, according to The New York Times.

Jeffrey Jones hit the marketing world’s equivalent of the lottery by landing the top marketing job at Target, a company with a well deserved reputation for clever campaigns and innovative brand activation strategies that will spend an estimated $1.4 billion on advertising this year. What more could a marketer ask for?

March was a good month for retailers overall, as an early spring brought out shoppers looking for seasonal merchandise earlier than they typically would. Last month was the warmest March in North America in more than 50 years, according to weather data provider Planalytics. 

Target, TJX and Ross Stores all reported stronger-than-expected March sales.

New York -- Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.

Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.