Strategy

An announcement last week that Target plans to open 21 stores in the coming fiscal year was interesting on a number of levels.

For starters, the disclosure was rather uncharacteristic for a company that in years past would publicly release its stores openings a week or two in advance of the actual openings. In this case, the company shared its full list of openings for the entire year two weeks before its new fiscal year even begins.

Conventional wisdom seems to be that Target will be as successful in Canada as it has been in the United States, following last week’s bombshell announcement that the company would enter the market via an acquisition. Target said it would acquire leasehold interests in 220 Zellers stores from the Hudson’s Bay Company, and during 2013 and 2014 it would open between 100 and 150 of the locations as Target stores.

BENTONVILLE, Ark. — Walmart's philanthropic arm announced a $2 million donation to help food banks save money on energy bills.

This funding, the Walmart Foundation said, will help 16 food banks "go green," by becoming more energy efficient through lighting, refrigeration or heating and air conditioning equipment upgrades.

This initiative is a part of Walmart's commitment to fighting hunger. In May, Walmart and the Walmart Foundation announced a $2 billion cash and in-kind commitment through the end of 2015, including:

WOONSOCKET, R.I. — CVS Caremark has appointed interim leadership for its retail business with Mike Bloom, EVP merchandising and supply chain, and Scott Baker, EVP internal operations and real estate, taking over the management of the retail business for its 7,100 stores nationwide.

Bloom and Baker, who will report to Larry Merlo, president and COO of CVS Caremark, are assuming these duties on an interim basis, pending the completion of the company's search for a new president of CVS/pharmacy.

NAPERVILLE, Ill. -- OfficeMax and organization expert Peter Walsh announced the launch of a new collection under the "Peter Walsh you.organized" brand. 

BOCA RATON, Fla. -- Office Depot announced that will once again provide customers with free copies, up to 25 single-sided pages, of 2010 tax returns.

Through April 15, 2011, customers will be able to participate in this special offer by visiting the Copy and Print Depot in any one of the more than 1,100 Office Depot retail store locations nationwide.

WASHINGTON -- The National Retail Federation announced that it has urged the House to support a vote to repeal last year’s health care reform law, saying the measure has already begun to discourage job creation and should be replaced with legislation that reduces healthcare costs while protecting jobs.

CUPERTINO, Calif. -- Steve Jobs, CEO of Apple Inc., has taken a medical leave of absence, Apple announced Monday.

According to an SEC filing, Jobs will remain involved in major strategic decisions during this leave of absence, and COO Tim Cook will be responsible for Apple's day-to-day operations. 

In a letter to company employees, Jobs wrote, "I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy."

MINNEAPOLIS -- Target announced that Tony Fisher has been named president of Target Canada.  In this position, Fisher will be responsible for building the team, establishing the headquarters and leading the day-to-day operations of the corporation's recently announced expansion into Canada, the company reported.

Bentonville, Ark. -- Wal-Mart Stores on Tuesday denied reports by a Santiago, Chile, newspaper that it would consider opening banks in Chile and Argentina.

The reports are “completely untrue,” Wal-Mart spokesman Kevin Gardner told Bloomberg in an e-mailed response to questions.