Retail

Target CFO John Mulligan ably represented the company in testimony before a Senate committee on Tuesday, but the one in the hot seat should have been chairman, president and CEO Gregg Steinhafel.
 
Recall when the nation’s bankrupt automakers needed a bailout, it was the CEOs of General Motors and Chrysler who appeared before legislators. And when big banks came under fire for their role in the housing crisis it was the financial firms’ CEOs who endured lawmakers pointed questions.

Oklahoma City -- Hobby Lobby announced it will open 70 stores throughout the United States in 2014, for a total of 625 locations nationwide.

The arts and crafts retailer said that as part of its expansion it will enter the states of Vermont and Oregon this year.
 

By Bob Russo, general manager, PCI Security Standards Council

With the latest attacks at big name retailers, the pressure is on for businesses of all sizes to demonstrate that they’re doing whatever it takes to keep their customers’ confidential information safe and out of the hands of the bad guys. But with headlines changing every day on what actually happened and how, many retailers are unsure of where to begin making changes.

Seattle-based Nordstrom plans to open a Nordstrom Rack at Christiana Fashion Center in Newark, Del. The approximately 35,000-sq.-ft. store, which is scheduled to open in fall 2015, is the company’s first Rack location in the state.

The single-level, newly built Nordstrom Rack is located at the intersection of Interstate 95 and Route 1, adjacent to Christiana Mall and will be surrounded by a strong tenant mix.

Sidney, Neb. - Cabela’s Inc. has named Donna M. Milrod to its board of directors. Milrod has been the chief administrative officer of The Depository Trust & Clearing Corporation (DTCC) since October 2012, with responsibilities for DTCC’s finance, operations, regulatory relations, business continuity, vendor management, and security functions.

CVS Caremark claimed the healthcare high ground by discontinuing the sales of tobacco products but the move comes with a steep price as the company said it will lose $2 billion in revenue and experienced a 17 cents a share profits impact.
 

Fremont, Calif. - Customers in the U.S. and around the world can now shop on the Men’s Wearhouse e-commerce site and ship directly to themselves or friends and family in more than 100 countries. Men's Wearhouse says it introduced international shipping in response to customer requests to do so.  

New York -- Walgreens’ net zero energy store in Evanston, Ill., was selected as Sustainable Store of the Year in Chain Store Age’s 32nd annual Retail Store of the Year design competition. The store, designed and built to produce energy equal to or greater than it consumes, will be highlighted during a special session at Chain Store Age’s 50th annual SPECS conference, March 9 -12, in Grapevine, Texas.