Target, Inc.

New York -- Target Corp. has signed a lease to open a 20,000-sq.-ft. location in Minneapolis that will serve as a test of a new format called TargetExpress, the New York Times reported. The new unit, considerably smaller than CityTarget’s 80,000- to 125,000-sq.-ft. footprint, would be the chain’s smallest store to date.

A 20,000-sq.-ft. store called TargetExpress is set to become the newest addition to the retailer’s portfolio of formats when it opens this July in downtown Minneapolis.

In an interview with The New York Times, Target EVP for property development John Griffith said Target signed a lease last week for a space on the ground floor of an apartment building called the Marshall which is under construction near the University of Minnesota campus. The store is scheduled to open July 27.

The malicious attack on Target which resulted in a massive data breach has spawned a “we’re all in this together” attitude among the nation’s retailers with the National Retail Federation spearheading the charge for common sense consumer protection measures.

Foremost among them is usage of the more secure Chip and PIN technology in credit and debit cards that offers better encryption of data than the magnetic stripe cards that are prevalent in the U.S.

As the holiday dust clears and we settle into a new year, it’s only fitting that retailers take a moment to reflect on successes of 2013 and identify opportunities for 2014. How can we be more efficient this year? Can we waste less while producing more? Where can we make simple adjustments that add up to big bottom line savings?

Minneapolis – Target Corp. will reportedly testify about its recent massive holiday data breach in a Congressional hearing in early February 2014. According to Reuters, a Congressional commerce, manufacturing and trade subcommittee headed by Rep. Lee Terry (R-Neb.) will investigate large data breaches and their effect on consumers.

Coty has announced that Brian Falcone will serve as SVP sales, overseeing all sales activities for Coty Beauty U.S. mass brands.

Falcone will be responsible for field sales, customer marketing, category management, wall strategy and fixture planning.

In November of last year, Target opened a popup store featuring an exclusive collection of bath and body products by Sonia Kashuk in New York’s Grand Central Terminal. Now the retailer is preparing to launch an exclusive line of Sonia Kashuk makeup, beauty tools and cosmetic bags in March.

Washington, D.C. -- Two U.S. senators have written to Target CEO Gregg Steinhafel seeking "detailed information'' on the data breach that occurred during the holiday shopping season, Reuters reported.

"We ask that Target's information-security officials provide a briefing to committee staff regarding your company's investigation and latest findings,'' John Rockefeller, chairman of the Senate Commerce Committee, and Claire McCaskill, chair of the Commerce ubcommittee on consumer protection, wrote to Steinhafel.

By Lee Peterson, WD Partners

If a sacred cow exists among retail strategists today, the price-match is undoubtedly it. As the weapon of first resort, it is the most obvious defense against the rapid rise of “showrooming” and the unbridled growth of online retailing behemoths like Amazon, ruthlessly cutting into retailers’ profits.

Minneapolis -- Target Corp. will invest $5 million in a multi-year campaign to educate consumers about cybersecurity and the dangers of phishing scams.