Consumer Electronics

MINNEAPOLIS — Joe Namath he’s not. Target chairman, president and CEO Gregg Steinhafel assured investors last month that December comps would exceed November’s 1.8% increase, but then Thursday morning reported a disappointing 1.6% increase and a reduced profit forecast.

New York City -- The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

“Cold-weather categories, which are highly profitable and represent approximately 25% of our business in December, were down mid-teens on a percentage basis,” said Tony Buccina, vice chairman, president – merchandising, The Bon-Ton Stores, whose December same-store sales fell 0.7%. The company widened its loss forecast.

Chicago -- General Growth Properties announced the addition of Von Maur department store as an anchor to Perimeter Mall, Atlanta, which has sales of more than $550 per square foot.

The department store is projected to open in fall 2012. Von Maur will replace the soon to be vacant Bloomingdale's location. Von Maur joins a retailer line-up that also includes Apple, Nordstrom, Michael Kors, Sur La Table, and Forever 21 among many others. Perimeter Mall is a 1.6 million-sq.-ft. two-level center north of downtown Atlanta.

MINNEAPOLIS — Best Buy said Thursday that it has completed the acquisition of mindShift Technologies. 

The acquired firm will operate under its current name, management team and capabilities, which include approximately 500 employees at offices in Boston; Long Island, N.Y.; Minneapolis; Morrisville, N.C.; New York City; Philadelphia and Washington, D.C.

Chicago -- General Growth Properties announced the addition of Von Maur department store as an anchor to Perimeter Mall, Atlanta, which has sales of more than $550 per square foot.

The department store is projected to open in fall 2012. Von Maur will replace the soon to be vacant Bloomingdale's location. Von Maur joins a retailer line-up that also includes Apple, Nordstrom, Michael Kors, Sur La Table, and Forever 21 among many others. Perimeter Mall is a 1.6 million-sq.-ft. two-level center north of downtown Atlanta.

Just in time for the Consumer Electronics Show next week in Las Vegas, Market Research Solutions (MRS) is out with a new report that provides unconventional insights into the 2011 holiday season and outlook for 2012.

The Tampa, Fla.-based research firm surveyed 272 department managers in early December at such retailers as Walmart, Target, Best Buy, Hhgregg and dominant regional players to gain a unique perspective on a category of business that is the most dynamic in retail. Among some of the key findings MRS provided exclusively to RetailingToday.com were:

GREEN BAY, Wis. — Shopko Stores Operating Co. said Wednesday that Shopko and Pamida will merge to create one of the largest U.S. retailers focused on serving smaller and rural communities. The combined entity will have nearly 350 locations in 22 states and plans to accelerate new store growth in the second half of 2012 and beyond.

Financial details of the merger, expected to close in mid-February, were not disclosed. Both companies are owned by affilates of the private equity firm Sun Capital Partners.

Green Bay, Wis. -- Shopko Stores Operating Co. said Wednesday that Shopko and Pamida will merge to create one of the largest U.S. retailers focused on serving smaller and rural communities. The combined entity will have nearly 350 locations in 22 states and plans to accelerate new store growth in the second half of 2012 and beyond. Financial details of the merger, expected to close in mid-February, were not disclosed.