Strategy

Awkward. The Minneapolis/St. Paul Business Journal included former Target director of design partnerships Brian Robinson on its annual 40 under 40 series, which looks at up-and-coming business leaders. In Robinson’s case, he is an up-and-comer who has already went – to JCPenney – but will reportedly be based in Minneapolis.

All retailers want to be perceived as great places to work and build a career as it aids in recruitment and retention of employees in an industry where costs associated with notoriously high rates of turnover cause a drag on performance.

NEW YORK — Macy’s on Wednesday outlined a new initiative to grow its business with the Millennial generation (ages 13 to 30). The group spends an estimated $65 billion each year for the type of goods sold at Macy’s.

WILTON, Conn. — Skin care company Beiersdorf, whose brands include Nivea, Eucerin and Aquaphor, has announced changes to its sales organization.

Tina Jackse has been promoted to the newly created position of VP global sales of Walmart, where she will be responsible for all Walmart business internationally. She will work collaboratively across the Beiersdorf affiliates around the world to help lead, develop and further strengthen Beiersdorf’s Walmart business globally. 

Target announced completion of a $10 billion share repurchase program this week and reminded investors of its commitment to more than double its annual dividend payment to $3 by 2017. Too bad Apple announced the same day it would begin paying its first ever quarterly dividend of $2.65 later this year.

Philadelphia -- A Wednesday report by Reuters said that discounter Five Below is said to be considering an initial public offering. 

The report, citing unnamed sources, said that the Advent International- and LLR Partners-owned chain has hired underwriters and is in discussions with bankers.

Five Below is in a growth mode and could potentially command a market valuation of over $1 billion.

Minneapolis -- Best Buy Co. said Wednesday that the U.S. District Court has dismissed putative securities fraud class actions against the retailer and three of its officers.

With regard to the class action lawsuit filed last year, the court on Tuesday dismissed all counts for lack of substantiation.

Memphis, Tenn. -- Fred’s reported Wednesday that net income for the fourth quarter jumped 14%, boosted by more robust sales and a favorable tax adjustment.

Profit for the quarter ended Jan. 28 rose to $9.8 million, from $8.6 million in the year-ago period.

Revenue rose 2.5% to $497.6 million, missing Wall Street’s expected $498.4 million in sales.

Same-store sales were flat.

Minneapolis -- Opus Development Corp. said Wednesday that it has been selected to develop, design and build a new 52,000-sq.-ft. retail store for Gander Mountain Co., located in Valdosta, Ga.

The retail building will be used as a model for future Gander Mountain stores as the retailer looks to introduce a smaller retail concept in small-to-mid-size markets across the country.

The project is scheduled for completion in late 2012.

Opus AE Group will design the building and it will be constructed by Opus Design Build.

Woonsocket, R.I. -- CVS/pharmacy is shuttering all of its Beauty 360 locations and ceasing operation of the Beauty 360 e-commerce business to focus on the growth of its core CVS/pharmacy beauty business, the retailer confirmed on Wednesday.

As of May 19, all 25 of the Beauty 360 locations will close and the e-commerce business will cease operation.