Direct To Consumer (DTC)

New York City -- Target has partnered with two local developers to purchase a 7.9-acre United States Postal Service site in the Throgs Neck section of Bronx, N.Y., for $35.2 million, where they plan to build a 300,000-sq.-ft. mall, according to New York Read Estate News.

New York City -- Tiffany & Co. has named Frederic Cumenal as executive VP, effective March 10.

Cumenal, 51, will be responsible for the company’s businesses in Asia, Japan, Europe and Emerging Markets, and will report to chairman and CEO Michael J. Kowalski. He joins Tiffany from the LVMH Group where most recently he was president and CEO of Moët & Chandon, S.A.

TOPEKA, Kan. -- Earlier today, Retailing Today reported that several apparel and footwear industry heavyweights were teaming up to promote best practices in sustainability, and now Payless has announced that it will support eco-model and Payless brand partner Summer Rayne Oakes who will wear the same little black dress throughout the month of March.

SAN FRANCISCO -- Delivering its fourth consecutive year of double-digit earnings per share growth, Gap Inc. reported earnings per share for fiscal year 2010 increased 19% to $1.88 on a diluted basis compared with $1.58 on a diluted basis for fiscal year 2009. Net earnings grew by $102 million to $1.2 billion.

New York City -- Winick Realty Group said that 5 Napkin Burger, the popular burger chain that’s opened three New York locations since 2003, has leased its fourth location at 150 East 14th Street, on the southwest corner of Third Avenue.

The restaurant includes 3,570 sq. ft. of ground-floor space, as well as a full basement. The new location is slated to open in April.

New York City -- Target Corp. said its annual sales may top $100 billion within the next seven years, with revenue boosted by its first expansion outside the United States, Bloomberg reported.

The chain also may double earnings per share over that period, CFO Douglas Scovanner said Thursday on a conference call after fourth-quarter results. Net income in the period ended Jan. 29 rose 11% to $1.04 billion.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

Boynton Beach, Fla. -- VendorNet, a provider of cross-channel fulfillment technology, said that international footwear designer and retailer, Stuart Weitzman will launch VendorNet's StoreNet Ship-from Store software to integrate its store inventory for e-commerce sales and fulfillment to save sales on the web and in stores.

Okay, stop snickering. Target this week revealed that the name of its new small format stores would be CityTarget. The company offered that nugget in connection with news that it would open a small-format store in downtown Chicago at the Sullivan Center development located in the heart of downtown at South State Street and Madison.

Seattle -- Nordstrom announced today it has entered into an agreement to acquire HauteLook, a leader in the online private sale marketplace. The company said the acquisition will enable Nordstrom to participate in the fast-growing private sale marketplace and provide a platform to increase innovation and speed in the way it serves customers in all channels.