Target, Inc.

After a year of steadily declining delinquency rates in Target’s credit portfolio, January proved to be a month of stabilization as the percentage of those 60 and 90 days past due on their accounts held steady when compared with the prior month. Accounts 60 days past due represented 4.2% of credit card receivables in January and accounts 90 days past due represented 3.1%. Both figures were identical to levels recorded in December, but well below peak levels seen in February 2010 when the 60 and 90 day past due rates hit their fiscal year peaks of 6.1% and 4.5%, respectively.

Springfield, Pa. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Le Gourmet Chef has opened at its Springfield Mall property, located in Springfield, Pa.

The 3,650-sq.-ft. store is located on the lower level next to Macy’s.

Springfield Mall, featuring Target, Macy’s and Carrabba’s Italian Grill, is jointly owned by PREIT and Kravco Simon Investments, an affiliate of Simon Property Group.

Now that Verizon has the iPhone, AT&T is offering some sweet offers to hang onto its existing subscribers, and it has enlisted the aid of Target to accomplish that objective. Target began selling the iPhone last November three months after announcing a partnership with RadioShack to offer mobile centers in its stores, and on Friday series of trade-in opportunities were offered at the 846 stores where TargetMobile is available. 

No offense to the grammatically challenged recording artist known as Meatloaf, but the notion that “two out of three ain’t bad” doesn’t apply when the issue is monthly same-store sales at Target.

Target director of owned brands Annie Zipfel is among those slated to participate in the fourth annual Network of Executive Women Multicultural Work force conference to be held March 1 to 3. With a theme of “Building Competencies, Growing Business,” the event will focus on the advantages of developing culturally competent organizations.

New York City -- Many retailers surprised with solid January revenue reporting on Thursday, despite snowstorms that raged across the country during the month.

The reports, many of which surpassed Wall Street expectations, offer encouragement that strength in consumer spending is continuing after a merry holiday season.
 
Costco Wholesale Corp, Victoria's Secret parent Limited Brands and teen retailer Wet Seal were among those that beat analyst expectations. Target, however, lagged, behind.

MINNEAPOLIS — Target said that although its comparable-store sales were below expectations in the South and Northeast, the company believes overall sales will be driven by two of its recent initiatives.

Target chairman, president and CEO, Gregg Steinhafel, said that while the company "expects the economy to remain challenging, Target's PFresh remodel program and REDcard Rewards 5% savings program continue to operate in line with expectations."

Retail sales during January offered a mix bag of results and made it rather tricky to determine how much results were influenced by harsh winter weather, gift card redemption rates, a still shaky economic recovery and individual company strategies.