Target, Inc.

Virginia Beach, Va. -- Divaris Real Estate announced Wednesday that six new stores totaling 57,434 sq. ft. will open at the company’s Pembroke Mall property, located in Virginia Beach, Va.

Boulder, Col. -- Nordstrom is the nation’s favorite fashion retail chain, according to an annual consumer study conducted by customer intelligence solutions provider Market Force Information. The upscale department store edged out Kohl’s, which had ranked first in the three previous studies. This year, Kohl’s moved to the No. 2 spot overall, followed by Macy’s, Dillard’s and J.C. Penney.
 

New York -- Fast Company magazine and Target are sponsoring a competition, the Target Retail Accelerator, that will award $75,000 to a developer who creates the best new mobile app or mobile website for the retailer.  

Fast Company will chronicle the developers' efforts on the website of its new technology vertical Co.Labs.

New York -- Award results released Wednesday by international think-tank Ethisphere Institute listed Whole Foods, OfficeMax and Target among the World’ Most Ethical Companies.

The institute reviewed nominations from companies in more than 100 countries and 36 industries. Selection is based on a review of codes of ethics; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.

Some are familiar; others not so. Fast Company’s annual list of “The World’s Top 10 Most Innovative Companies in Retail” covers a lot of ground in its diversity. Here’s a recap:

1. Nike: Cited for its revolutionary new products and culture of “true believers.”

Madison, Ala. -- Brentwood, Tenn.-based GBT Realty announced that several new tenants bring its Shoppes of Madison property to near 100% occupied.

Moe’s Southwest Grill will join the new shopping center, along with Buenavista Mexican Cantina, which will open a 7,220-sq.-ft. restaurant on a 1.55-acre outparcel.

The Target-anchored Shoppes of Madison also features Ross, Petco, Kinnucan’s, and numerous junior anchors and small shops. The 28-acre center, which opened in 2012, was developed and leased by GBT Realty Corp.

Mississauga, Ontario -- Target announced that it is opening three pilot stores in Ontario on March 5 at Stone Road in Guelph, Milton Mall Shopping Centre in Milton and Gates of Fergus in Fergus. The three pilot stores are the first Target locations to open in Canada, and the first of 124 Target stores that will open across the country throughout 2013.
 

Minneapolis -- Target Corp. reported Wednesday a profit of $961 million for the fourth quarter, down from $981 million in the year-ago period. The profit slip reflected expenses related to its Canadian market entry along with a spending slowdown during the holiday sales period. It was Target's weakest holiday season performance since 2008. But its adjusted results beat analysts' estimates and it forecast first-quarter earnings above Wall Street's view.