Strategy

Walk into a Target store anywhere in the U.S. and it’s a safe bet there will be at least a few customer rummaging through the bins of single price point merchandise in the Dollar Spot located just inside store entrances. The ever changing assortment’s treasure hunt appeal and single price point value proposition are simply too much for many customers to bypass. It is enough to make wanna-be merchants wonder if further expansion of the concept makes sense for Target, especially considering the raging success companies such as Dollar General and Family Dollar are having.

ROANOKE, Va. — Advance Auto Parts has announced the promotion of Markus Hockenson to SVP store operations effective April 1. Hockenson will be responsible for providing strategic direction and leadership to the company’s Midwestern operations, which includes more than 1,200 stores. Hockenson will report to Carl Hauch, SVP national operations and will be based in Denver, Colorado.

Bentonville, Ark. -- Wal-Mart Stores chief merchandising officer Duncan MacNaughton said during a CIBC conference on Wednesday that Wal-Mart’s domestic sales momentum has continued over the last two months.

The world’s largest retailer registered a same-store sales rise of 1.3% in U.S. stores in the third quarter and a 1.5% increase in the fourth quarter.

Results reversed a nine-quarter streak of same-store sales declines.

According to MacNaughton, the momentum continued in February and March, as well.

Salisbury, N.C. -- Grocery chain Food Lion, a subsidiary of Delhaize America, said Wednesday that it has rolled out a previously announced new brand strategy to 268 stores in Virginia, West Virginia and North Carolina. These markets are the first stores in 2012 to unfurl the new strategy, which is based on customer feedback. 

Chestnut Hill, Mass. -- A 120,000-sq.-ft. former Macy’s building was demolished on Wednesday, as developer WS Development prepares the site for a second redevelopment phase of its Chestnut Hill (Mass.) Shopping Center.

The region’s oldest suburban mall will become home to a new generation of retailers, services and entertainment offerings, including a new 31,000-sq.-ft. Sports Club/LA health and fitness complex and a National Amusements’ theatre and restaurant facility.

Paterson, N.J. -- New York City-based Modell’s Sporting Goods said Wednesday it will open a new 7,000-sq.-ft. store in Paterson, N.J., on Thursday.

The announcement comes off the heels of three store openings earlier in March in Brooklyn, N.Y.; Fresh Meadow, N.Y.; and Wayne, N.J.

The retailer operates 151 stores located in New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, D.C. 
 

Phoenix -- Indianapolis-based Simon Property Group said Wednesday that its Premium Outlets division has launched construction of Phoenix Premium Outlets, an upscale outlet shopping center serving the Greater Phoenix and Scottsdale areas.

Phoenix Premium Outlets will be located in Chandler, Ariz. Phase I of the project will be comprised of 360,000 sq. ft. housing approximately 90 outlet stores featuring high-quality designer and name brands. A spring 2013 opening is planned.

New York -- Customer experience is highly correlated to loyalty in both the United States and the United Kingdom, according to a new report by Temkin Group.

According to "The ROI of Customer Experience" study, a $1 billion U.S. company can generate between $141 million and $382 million over three years if it makes a modest improvement in the customer experience it delivers.

Hampstead, Md. -- JoS A. Bank Clothiers Inc. said Wednesday that its fiscal fourth-quarter profit rose 8% amid improved sales. But the chain cautioned that softer-than-expected customer traffic and milder winter weather is pressuring its first-quarter performance.

Jos. A. Bank reported net income of $44.1 million for the period ended Jan. 28, up from $40.9 million a year earlier.

Revenue increased 9% to $346.3 million, from $318.3 million.

Framingham, Mass. -- Staples announced the appointment of Willem Vos as director of e-commerce, Staples Europe.

Vos will report to Peter Howard, senior VP, head of Staples online and marketing, Staples Europe.