Events

Target turned 50 this year, and chairman, president and CEO Gregg Steinhafel weighed in on the expect more, pay less (EMPL) value proposition, his 32-year career and miscellaneous other topics in a Q&A interview with the company’s online magazine known as “A Bullseye View.” To read a transcript of his comments click here.



 

Target’s annual shareholders’ meeting will be held June 9 in downtown Chicago at the location of a soon-to-open CityTarget store on State Street. The venue is an interesting choice that speaks volumes about the potential for the new urban format.

Minneapolis -- Target said it will open its new smaller format concept, CityTarget, at the Beverly Connection in Los Angeles, in March 2013. The 99,000-sq.-ft. will be located on the second floor of the shopping complex, at the corner of La Cienega and Beverly Boulevard.

Chicago -- The Network of Executive Women (NEW) is honoring Michael Duke, president and CEO of Wal-Mart Stores, with its William J. Grize Diversity Hall of Fame Award, on June 28 during Women's Day at the LPGA in Rogers Ark.

The award, named after the late CEO of Ahold USA, who was an early advocate of industry diversity, is bestowed upon industry leaders who have demonstrated “an enduring commitment to the advancement of women and to creating a diverse and inclusive workplace,” NEW stated.

Chattanooga, Tenn. -- CBL & Associates Properties and Horizon Group Properties announced that construction will begin immediately on a new outlet center in Woodstock, Ga. The 370,600-sq.-ft. initial phase of the center, to be named The Outlet Shoppes at Atlanta, is scheduled to open in August 2013.

HOFFMAN ESTATES, Ill. — Ahead of its annual shareholders' meeting, Sears Holdings has provided first-quarter guidance calling for net income between $155 million and $195 million (between $1.46 and $1.84 per diluted share from continuing operations) versus a net loss from continuing operations of $165 million ($1.53 loss per diluted share from continuing operations), for the first quarter in 2011.  The above range includes approximately $235 million, after tax and minority interest, of gains from the sale of certain U.S. and Canadian stores.

Dallas -- The Food Marketing Institute (FMI) announced that it has entered into a strategic business partnership with TopSource LLC, a sourcing company and wholly owned subsidiary of Topco Associates LLC. FMI said the partnership will provide its members the opportunity to support the foundations of their growing businesses with significant savings related to costs in not-for-resale areas.

Bentonville, Ark. -- Walmart announced that its Acres for America program is conserving an additional 300 acres of land to protect and restore wildlife habitats in the heart of U.S. cities, including Bridgeport, Chicago, Portland, San Diego, and Washington, D.C.

The Brentwood, Tenn.-based farm and ranch retailer saw same-store sales increase 11.5% in the first quarter ended March 31. Net sales increased 22% to $1.02 billion.

Net income for the quarter was $40.3 million, compared to net income of $18.3 million in the same quarter last year.

MINNEAPOLIS — Target is partnering with Norah Jones for a deluxe edition of her fifth studio album, “Little Broken Hearts.” The Target deluxe edition of “Little Broken Hearts” is available now for pre-order at Target.com/NorahJones and will be offered at Target stores nationwide beginning May 1.