Strategy

MINNEAPOLIS — Profits at Target grew 10.2% to 82 cents in the third quarter compared with 74 cents the prior year thanks to healthy sales growth and ongoing improvement in the company’s credit card business. 

SALISBURY, N.C. — Network growth and higher retail inflation prompted growth in both revenues and comparable-store sales for Delhaize America, the U.S. division of Delhaize Group, for the third quarter ended Sept. 30.

Revenues realized a gain of 3.5% to $4.9 billion, compared with the year-ago period, while comparable-store sales jumped 1.9%. Delhaize, however, acknowledged that due to the economic environment and the decrease of consumer confidence, particularly in the southeastern United States, volume trends were down from the previous quarter.

BOCA RATON, Fla. — Office Depot has announced that Office Depot stores in Plano, Texas; Raleigh, N.C.; and Tallahassee, Fla. won the top three spots for retail energy efficiency gains in the 2011 U.S. Environmental Protection Agency’s (EPA) Energy Star National Building Competition. The Plano and Raleigh stores were also the only retailers in the overall top ten list, according to the company.

NAPERVILLE, Ill. — OfficeMax has announced that it has entered into an agreement with RadioShack whereby RadioShack employees will offer mobile products and services, including prepaid and postpaid wireless products, accessories and service plans, as well as assist in selling OfficeMax consumer electronics products and services, in approximately 15 to 20 OfficeMax stores in the San Francisco market. The pilot program will begin in January 2012. 

PITTSBURGH — Giant Eagle has named Laura Shapira Karet CEO and John Lucot president and COO. Both appointments are effective Jan. 9, 2012. 

Karet, 42, is taking over the position from her father David Shapira, who will assume the position of executive chairman of Giant Eagle's board of directors. Shapira has served as CEO 1980.

SALISBURY, N.C. — Discount grocer Bottom Dollar Food is hiring more than 800 associates over the next several months to begin to prepare for store openings next year, the company announced Wednesday.

"We look forward to expanding in Pittsburgh and Youngstown, Ohio, next year, and bringing new jobs to these areas," stated Bottom Dollar Food president Meg Ham. Bottom Dollar Food is expected to open 14 stores in early 2012. 

New York City -- Mattress retailer Mattress Firm Holding Corp. expects to raise about $100 million in an initial public offering to pay down its debt, the Associated Press reported.

The company is offering 5.6 million shares, and expects them to price from $17 to $19 each. After expenses the company anticipates net proceeds of about $90 million.

Most of the proceeds will go toward repaying $84.4 million in debt outstanding under a loan.

Mattress Firm and its franchisees run 757 stores in 25 states.

New York City -- Excitement over unexpected in-store deals has diminished as discounted prices become an anticipated part of the consumer products shopping experience, according to the Deloitte/Harrison Group annual American Pantry Survey.

San Francisco -- Gap Inc. announced that shoppers at more than 65 of its stores across the Bay Area can now use Google Wallet to pay with a single tap of your phone.

Google Wallet supports most Citi PayPass eligible MasterCard credit cards and the Google Prepaid Card.
 

New York City -- Waste Management and Publix Super Markets announced the opening of the Okeechobee Organics Recycling Facility, which uses advanced aerated composting technology to process food residuals.

The eight-acre facility, located adjacent to Waste Management’s Okeechobee Landfill, utilizes a forced aeration system with computer controls to regulate airflow and air treatment to process pre-consumer food waste from Publix stores -- including produce, bakery and floral items -- with yard waste into organic compost products.