Strategy

Target Corp. is tapping into the startup community in San Francisco and the Silicon Valley to gain a merchandising edge.

The retailer is launching a series of “Demo Days” aimed at discovering interesting new “smart” products from startup companies. The program kicked off on Feb. 23, with Target inviting 12 startups to its office near Silicon Valley to pitch “smart baby” products. Each company had 20 minutes to showcase its products and receive real-time feedback from Target.

Boston-based online home furnishings retailer Wayfair Inc. managed to shrink its net loss in the fourth quarter of fiscal 2015 while other financial results soared.

Wayfair reported net loss of $15.49 million, down from $72.55 million in the same quarter a year earlier. Growth in cost of goods sold, operating expenses and other costs did not match the rate of revenue growth. Net revenue increased 81% to $739.79 million, from $408.62 million.

The parent company of Victoria's Secret and Bath & Body Works credited the strength of its brands with helping it to buck the financial doldrums affecting many other retailers in the fourth quarter.

For the period ended Jan. 30, L Brands earned $636 million, or $2.15 a share, up from $564.8 million, or $1.89 a share, a year earlier. Net income increased 13% to $636.0 million, compared to $564.8 million last year. Net sales were $4.395 billion, an increase of 8%. Same-store sales increased 6%.

So much for the argument that the U.S. market is saturated with retail stores and e-commerce is hurting mall traffic. Tanger Factory Outlet Centers brought four new properties online in 2015 and still managed to achieve a portfolio occupancy rate in excess of 95% for the 35th consecutive year.

Build-A-Bear is adding two new board members whose backgrounds should serve the company well as it moves forward with its transformation plan.

Build-A-Bear announced that Tim Kilpin and Sarah Personette have been appointed to the company’s board of directors.

Kilpin, 55, will serve as a member of the Audit Committee and as a member of the Compensation and Development Committee. Personette, 36, will serve as a member of the Compensation and Development Committee and as a member of the Nominating and Corporate Governance Committee.

Whole Foods Market has been offering deliveries via Instacart in select markets for about a year, but reportedly is significantly extending the scope of the deal.

According to Re/code, Whole Foods has at least in principle made an unspecified investment in Instacart. Whole Foods has also reportedly signed a five-year deal making Instacart its exclusive perishables delivery provider.

SAP has named Achim Schneider as global head of its Retail Industry Business Unit.

Schneider will be responsible for the retail industry footprint at SAP and will report directly to Lori Mitchell-Keller, global general manager of consumer industries.

In his new role, Schneider leads retail industry activities at SAP and will oversee cloud and on-premise technology solutions designed for use by retailers.