Strategy

Minneapolis -- Target Corp. on Wednesday reported a 61.7% drop in Q2 earnings. The chain also lowered slashed its annual profit outlook as it continues to deal with weak results in Canada, sluggish U.S. sales and the lingering effects of its data breach.   

Target earned $234 million in the quarter ended Aug. 2, down from $611 million in the year-ago period.

Revenue rose 1.7% to $17.4 billion, slightly above the $17.38 billion analysts had expected.

Mooresville, N.C. -- Lowe's second-quarter net income rose a better-than-expected 10%, helped by improving weather. But the chain lowered its full-year revenue outlook slightly, citing its year-to-date sales and prior assumptions for the second half.

For the three months ended Aug. 1, Lowe's Cos. earned $1.04 billion, up from $941 million in the prior year.

Revenue increased 6% to $16.6 billion, topping Wall Street's estimates.

Same-store sales were up 4.4%.

Tampa, Florida — RMC Property Group has been awarded the exclusive leasing and management assignment for The Promenade, located at 10330 North Dale Mabry Highway in Tampa.

The Promenade is a 29,984-sq.-ft. mixed-use property with 19,549 sq. ft. of ground floor retail and 10,435 sq. ft. of professional and office space on the second floor. Anchor tenants include International Diamond Center and Phoenix Home Care.

New York -- Seiko Corporation of America, a subsidiary of Seiko Watch Corporation, announced the grand opening of its first Seiko boutique to enter the United States at 510 Madison Avenue in New York City.  

The New York Seiko boutique is primarily dedicated to Seiko's collections, but also features boutique exclusives.

San Antonio -- CST Brands announced the signing of a definitive agreement to acquire the convenience store assets, franchisor rights and associated trademarks of Nice N Easy Grocery Shoppes.

Nice N Easy operates 77 corporate and franchise stores in Central New York. The company operations include thirty-three company operated stores along with forty-four franchise locations.

New York -- McDonald's named Julia Vander Ploeg as its first VP of digital in the U.S., as part of its ongoing efforts to strengthen its digital presence, Ad Age reported.

Vander Ploeg will report to company’s chief digital officer, Atif Rafiq, who joined McDonald’s in October.
 

Omaha, Neb. -- Gordmans Stores has named Andrew T. Hall president and CEO, effective Aug. 19. He also was appointed to the company's board of directors.

Hall, 53, was president and chief executive officer of Stage Stores, from 2008 to 2012 and served as its president and COO from 2006 to 2008. At Gordmans, he succeeds T. Scott King, Gordmans' chairman of the board, who has been serving as interim president and CEO since March 2014.