Marketing

New York City -- Target Corp. has won approval to put its signature red logo on one of Chicago's most famous buildings. The Permit Review Committee of the Commission on Chicago Landmarks on Thursday approved the chain’s request to allow its bull's eye to be placed on its new store planned for downtown Chicago.

San Diego -- Warehouse club operator PriceSmart reported Thursday that net income for the quarter ended May 31 rose to $16.3 million, compared with $12 million in the year-ago period.

Sales surged 23.6% to $421.6 million, from $341.2 million.

The company had previously announced it acquired 131,524 sq. ft. of land in Cali, Colombia, upon which it will build its second warehouse club in Colombia.
 

It’s only been two months since Walmart acquired an undisclosed minority interest in Chinese online supermarket operator Yihaodian, but now the company is indicating it may conduct an initial public stock offering in the United States, according to Bloomberg.

The new agency said the Shanghai-based company is looking to expand aggressively and quoted Yihaodian chairman Yu Gang as saying the company will most likely sell shares to the public in the United States but offered no timetable.

CAMP HILL, Pa. — Rite Aid announced Thursday changes in its human resources and operations departments.

The 4,700-store chain named Brian Fiala as EVP human resources and Robert Thompson as EVP store operations. Rite Aid also appointed Bill Romine as SVP of the chain’s western division.

Fiala had previously served as EVP store operations, having joined the company in 2007 after working for 24 years at Target. He replaces Steve Parsons, who is leaving the company to take another position, and will report to president and CEO John Standley.

Atlanta -- Citi announced Thursday that it has renewed its U.S. private-label credit card partnership with Office Depot.
 
“The Office Depot Business Credit Card and the Office Depot Personal Credit Card both provide our customers with the increased spending power they need in these economic times,” said George Hill, senior VP store operations, Office Depot.

Now that Walmart has completed its acquisition of a majority stake in South African retailer Massmart a major competitor contends it will need to lay off 8.6% of its work force to improve its competitive position.

That’s according to South African media reports indicating rival Pick n Pay Stores said it was looking to eliminate 3,137 of its 36,673 positions. Conversely, Walmart has said it will create 15,000 jobs in South Africa within five years, implying a fairly robust level of expansion.

Sears Home Services has entered into agreements with three branches of the military to provide delivery and installation services for merchandise sold through their stores in the continental U.S.  After success with initial pilots, Sears began the nationwide launch on June 8,  at various Navy, Army, and Air Force Exchanges that sell home improvement services such as siding, windows, cabinet refacing, kitchen remodeling, roofing, carpet, and upholstery cleaning, air duct cleaning and garage door installation and repair.

Former Safeway real estate executive Dan Clayton has joined Denver-based Laramie Company as VP leasing. He previously served as real estate director at Safeway and in his new role will focus on tenant representation and project leasing.