Corporate Governance

Target Corp. is reportedly localizing the assortments at its smaller-footprint Target Express stores to a high degree.

The Minneapolis-St. Paul Star Tribune reported that since opening its first Target Express in the Dinkytown neighborhood of Minnesota in summer 2014, the discounter has carefully considered local customer demographics when stocking shelves.

New York – Billionaire activist investor Carl Icahn has increased his investment holding in EBay Inc. In his regulatory filing for fourth quarter 2014, Icahn disclosed that he purchased about 446,000 shares of EBay.

British supermarket giant Tesco has named John Allan as chairman, ending a four-month search after Richard Broadbent resigned amid an accounting scandal.

Allan, 66, will join the board and be appointed chairman on March 1, when Broadbent will step down from the board, Tesco said in a statement.

"I'm very pleased to be taking on this role at such a critical moment for the business and look forward to working with the new executive team and the board," Allan said.

By Jim Haller, NPI

The words “raising rates” are enough to elicit a face-in-palms reaction from any online retailer – especially when it comes to small parcel shipping. Yet, a different reaction may be in order as the United States Postal Service announces its intent to raise rates later this year.

Brentwood, Texas -- Tractor Supply Company will open its 1,400th store, in Eunice, Louisiana, on Feb. 21. The location is one 110 to 115 new stores the retailer plans to open this year.

"We are thrilled to be celebrating another milestone in Tractor Supply's growth story, with the opening of our 1,400thstore," said president and CEO Greg Sandfort. "We believe there is still tremendous expansion potential ahead, and we are excited for the opportunity to serve the rural lifestyle in new markets."

Whole Foods is putting its motto -- whole foods, whole people, whole planet -- to the test with a new initiative to alleviate poverty through microcredit.

The retailer is partnering with its own Whole Planet Foundation on an effort to raise $5 million in 42 days to fund microlending programs worldwide.

Luxury online retailer Gilt Groupe has been preparing for an IPO for a year now, but didn’t have enough cash. Now the retailer says it has raised another $50 million from venture backers.

Founded in 2007, Gilt is a New York-based e-commerce retailer that holds flash sales of discounted luxury items from clothing to home décor. The $50 million infusion brings Gilt’s total amount raised to about $250 million.

Grapevine, Texas – Private equity firm Altamont Capital Partners has purchased specialty restaurant chain Cotton Patch Café, which operates 45 locations in Texas, Oklahoma, and New Mexico. Kathy Nelson, CEO of Cotton Patch, participated in the investment and will continue in her role.

Altamont Capital also holds major investments in franchisees of the Taco Bell and Sonic Drive-In fast-food chains. Terms of the deal were not disclosed.