Strategy

Minneapolis  — Target Corp. on Thursday unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces.  The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.

MINNEAPOLIS — Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces. The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.

Suffern, N.Y. — Ascena Retail Group Inc. said Wednesday that its fiscal third-quarter profit rose 8% on increased sales at its Dressbarn, Maurices and Justice clothing stores.

The retailer, formerly known as The Dress Barn Inc., reported net income of $51.8 million for the three months ended April 30, up from $48 million in the year-ago period.

Revenue rose 9% to $722.8 million from $665.5 million in the same quarter a year ago. Dressbarn revenue rose 5% in the quarter, and Maurices revenue jumped 17%. Justice sales rose 6%.

Indianapolis — Electronics and appliances retailer hhgregg Inc. said Thursday that its profit leaped 46% in its fiscal 4Q, to $14.6 million from $10 million in the year-ago period. However, same-store sales tumbled nearly 11% in the company, and the company said it will slow the pace at which it opens new stores in the next fiscal year. Previously, it expected to open 35 to 45 stores in the next year, but now cut the upper range to 40 stores.

BRUSSELS — The Belgium-based parent company of Delhaize America, which operates such banners as Food Lion and Harveys in the United States, has elected new members to its board of directors.

Goodlettsville, Tenn. — Dollar General Corp. announced that it plans to open its first stores in California in 2012 following successful expansions in such other western states as Arizona and Colorado in recent years.

“Our California stores will mark a significant milestone for Dollar General, giving us a coast-to-coast presence for the first time,” said Rick Dreiling, chairman and CEO.

The resignation of two top executives at Walmart China earlier this week initially seemed a rather stunning development given China’s importance to Walmart’s future and the fact that the company just held an analysts meeting in Shenzhen in late March. However, Walmart is now looking to capitalize on compelling growth prospects in the world’s second largest economy without the services of CFO Roland Lawrence and COO Rob Cissell. Walmart announced their simultaneous departure, but did not identify replacements.

Washington, D.C. — Tanger Factory Outlet Centers Inc. and The Peterson Cos. announced that they have entered into a joint venture agreement to develop, manage and lease Tanger Outlets at National Harbor.