Strategy

The National Retail Federation has high expectations for the nation’s next secretary of labor.   On the heels of Alexander Acosta’s nomination to head the federal Department of Labor on Thursday, Feb. 16, the retail trade association’s senior VP for government relations David French released the following statement:  

Target plans to renovate its downtown Minneapolis flagship, adding an array of new features.   The discounter will invest $10 million in a full-store remodel for the location, which opened in 2001, reported The Journal.     Less ambitious updates are planned for other Target stores in the Twin Cities area.    

DWM Facilities Maintenance has opened a new office in Orlando, Florida. The new office will help facilitate the company’s recent growth.   

Target Corp. is the central player in a drama that even Hollywood wouldn’t dream    A Florida man has been charged with plotting to bomb Target stores along the East Coast — an attempt to cheapen the company’s stock.  

Round 1, the retail center amusement concept from Japan, has signed a lease for the vacated Macy’s anchor space at Northwoods Mall in Peoria, Illinois. Washington Prime Group, the mall’s owner, purchased the store from Macy’s last month.   Washington Prime CEO Lou Conforti hailed the singing as an example of a corporate objective to use redevelopment to foster “differentiated tenancy, especially dining and entertainment alternatives.”  

Chain Store Age will be closed on Monday, Feb. 20, in observance of Presidents' Day. We will reopen and resume our normal schedule on Tuesday, Feb. 21. 

GNC Holdings Inc. on Thursday posted dismal results for its fourth quarter and said it was suspending its quarterly dividend in a move to reduce its debt.   The nutritional supplements retailer posted a loss of $433.4 million, or $6.35 a share, compared to a profit of $42.9 million in the year-ago period. Excluding certain items, earnings came in at 7 cents per share, well below the 36 cents that Wall Street analysts expected.  

For a retailer, the allure of a historic building is obvious: A renovated historic space conveys a unique degree of character and a memorable and defining sense of place. It can help a brand or business stand out in a crowded and competitive retail marketplace and deliver that all-important experiential element.  

The baton has been passed at Beauty Brands as it looks to enter its “next phase of growth.”   The Kansas City-based retailer has named Caryn Lerner as CEO, succeeding Lyn Kirby, who will remain chairman. Kirby is part of the group that bought Beauty Brands in 2014 from founder Bob Bernstein. Since then, she has served as CEO and chairman of the company, reportedly commuting between Chicago and Kansas City.  Prior to Beauty Brands, Kirby served as CEO of Ulta Beauty.   

Walgreens Boots Alliance’s acquisition of Rite Aid is moving closer to getting a green light from the Federal Trade Commission.       The FTC is expected to approve the sale in the next two to four weeks, reported the New York Post, citing two sources close to the situation.   The major sticking point was reportedly the number of Rite Aid stores that need to be divested to Fred’s Pharmacy.