Discount Store

An announcement last week that Target plans to open 21 stores in the coming fiscal year was interesting on a number of levels.

For starters, the disclosure was rather uncharacteristic for a company that in years past would publicly release its stores openings a week or two in advance of the actual openings. In this case, the company shared its full list of openings for the entire year two weeks before its new fiscal year even begins.

New York City -- A Tuesday report by Bloomberg said that J. Crew Group is close to settling a shareholder lawsuit over its proposed $3 billion takeover by private-equity firms TPG Capital and Leonard Green & Partners LP.

Citing two unnamed sources, the report said that as part of the settlement, J. Crew would extend the period to solicit competing offers until Feb. 15 and add provisions that make it easier to accept a rival bid.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

MATTHEWS, N.C. -- Family Dollar Stores announced that it has named Paul White to the position of SVP apparel, home and seasonal.  White will report to Dorlisa Flur, EVP and chief merchandising officer.

Kansas City, Kan. -- Beachwood, Ohio-based Developers Diversified Realty Corp. said that Anthropologie will open an 11,202-sq.-ft. store at Town Center Plaza, a 626,000-sq.-ft. lifestyle center located in Leawood, Kan.

The new store is slated to open this summer.

In 2010 at Town Center Plaza, Victoria's Secret relocated and expanded to a new 7,200-sq.-ft. prototype store, Bath & Body Works expanded into a 3,267-sq.-ft. space, and The Limited executed an agreement to open a 4,595-sq.-ft. store in the spring.

Jackson-Hewitt tax preparation kiosks are now open in more than 2,000 Walmart stores in anticipation of an onslaught of consumers eager for their refund to arrive as soon as possible. Nearly half of those who receive a refund get it in February, according to IRS data cited by Walmart, so the retailer is touting the presence of Jackson-Hewitt kiosks in its stores and a preparation fee of $38 for the most basic of returns, the 1040EZ, with only two W2s.

New Iberia, La. -- Centro Properties Group said that T.J. Maxx will open a 24,035-sq.-ft. store at Lagniappe Village, in New Iberia, La. 

New York City-based Centro is the owner of Lagniappe Village.