Target, Inc.

Target is reportedly requesting that many of its suppliers assume up to 3% to 5% more of the cost of promotions and price reductions on some items.

According to Reuters, at least 12 Target suppliers have confirmed they were asked to pay for more of the promotional cost for a variety of slow-moving products. Target reported declining sales in its most recent fiscal quarter and publicly said it would likely enter an extended promotional period.

CVS Health on Tuesday announced that the first CVS Pharmacy locations in Target stores are now open in Washington. 

The CVS/Health-Target partnership continues to grow.

MinuteClinic, the retail medical clinic of CVS Health, has opened eight new locations inside Target stores in Maryland, including six in the Baltimore metropolitan area. The clinics have been rebranded and converted to MinuteClinic. There are now 43 MinuteClinic locations in Maryland, including clinics in select CVS Pharmacy stores.

The term “post-department store era” was once considered so controversial that many in the retail world avoided using it, fearing backlash from powerful industry giants like Macy’s and Sears. Some saw the very idea of department store obsolescence as pure folly while others saw it only as a vague possibility too far in the future to consider.
 

Watch out Target — Walmart is also looking to reinvent its store experience.
 
Walmart is testing an array of new initiatives, from sleeker fixtures and signs to a cool BBQ eatery to a giant kiosk for online order pick-up — at a new store in Arkansas, according to TheStreet.
 

Galeries Lafayette Group is the latest retail entity to launch its own tech accelerator program.

The French specialty retail conglomerate, which operates the Galeries Lafayette, BHV Marais, Royal Quartz, Louis Pion and Didier Guérin banners, is partnering with Silicon Valley-based technology accelerator and venture fund Plug and Play in the effort. The three-month program aims to develop an integrated platform to assist startups focused on the fashion and retail sectors. It will include access to venture capitalists, mentors, and Fortune 500 companies.

Letting customers pick up online orders at physical stores may be a hot retail trend, but Target has reportedly decided to terminate a test of the offering.

Abercrombie & Fitch Co. has named two veteran retailers to head up its divisions.

The teen apparel retailer named Stacia Anderson as president of its namesake brand, and also its abercrombie kids division. Anderson is a 20-year veteran of Target Corp., where she most recently served as senior VP of merchandising.  She will join Abercrombie on June 13.