Consumer Electronics

MINNEAPOLIS — Target is investing more than $12 million in schools in 2012 through its library makeover program, and said it plans to give more than $1 billion for education by the end of 2015.

As part of its 2012 library makeover program, Target will renovate libraries at 32 elementary schools and revisit each of the 118 schools that previously received a Target School Library Makeover to provide additional reading resources for students and teachers.

Minneapolis -- Target Corp. said it has initiated remodels to expand the fresh food offerings at 90 stores across the nation, with the work expected to be completed on June 24, 2012.

The June stores will be the second of three cycles of remodels for Target this year. Stores scheduled for the June remodel cycle span markets across the country, from Des Moines, Iowa, to El Paso, Texas, and Dayton, Ohio.

By the end of the year, more than 1,100 Target stores will offer the expanded fresh food layout.

IBM’s decision to sell its Retail Store Solutions (RSS) business to Toshiba TEC was the most significant announcement in the retail point-of-sale industry in the last 10 years, according to industry analyst Greg Buzek, president, IHL Group, Franklin, Tenn. The acquisition establishes a new company in which Toshiba will initially own 80.1% and IBM 19.9% for the next three years to aid transition and after which time IBM will relinquish its stake.

Laguna Hills, Calif. -- The Hodgdon Group said it has completed construction on the conversion of a Circuit City building in Laguna Hills, Calif., for the grand opening of an Ashley Furniture HomeStore on Friday, April 20. 



The former Circuit City building was expanded to make way for a fully remodeled 51,000-sq.-ft. retail building, which includes the new 33,000-sq.-ft. Ashley Furniture HomeStore plus Total Wine & More in the remaining 18,000 sq. ft.

Minneapolis -- Best Buy Co. has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.

As part of Best Buy’s commitment to transparency, the company said the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.

Milwaukee -- The Milwaukee office of Opus Development Corp. announced that T.J Maxx, Ulta Salon, Rue 21 and Charming Charlie’s will be the first tenants in the second phase of its Shoppes at Fox River retail development in Waukesha, Wis.

Toronto -- Sears Canada, Inc., an arm of Sears Holdings Corp., said Friday it has completed the transaction with landlord The Cadillac Fairview Corp. to return three stores for $170 million.

The stores – located in Vancouver, Calgary and Ottawa – are slated to be exited by Sears as of Oct 31, 2012. The agreement between Sears and the landlord was first announced in March.
 

MINNEAPOLIS — Best Buy may be dealing with all of the negative attention surrounding the resignation of Brian Dunn, but "the show must go on," as they say, and the search has begun for a new CEO. The company has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.