Discount Store

MINNEAPOLIS -- Target announced that Tony Fisher has been named president of Target Canada.  In this position, Fisher will be responsible for building the team, establishing the headquarters and leading the day-to-day operations of the corporation's recently announced expansion into Canada, the company reported.

Talk about favorable media coverage. CNBC aired a one-hour special last week called “Target: Inside the Bullseye,” that served as more of a glowing endorsement of the company than the probing documentary implied by the title.

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.

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.

Hoffman Estates, Ill.-based Sears Holdings released its year-end outlook for the fiscal year 2010 ending Jan. 29.

For the full year, the company expects a net income of $210 million, with a fourth-quarter income expectation of between $370 million and $450 million, offsetting the company’s past two quarterly losses.

The company also posted up-to-date comparable-store sales for both its Sears Domestic and Kmart stores.

For the quarter-to-date, comparable-store sales for its Sears Domestic stores were down 5.3%, with Kmart stores seeing an increase of 3.4%.

Lenexa, Kan. -- Seattle-based Nordstrom announced plans to open its first Nordstrom Rack in Kansas. The 34,925-sq.-ft. store will be located in Lenexa at the Orchard Corners shopping center and is expected to open in fall 2011.

Brandon, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased retail space in Brandon, Fla., at Bloomingdale Square to Pet Supermarket.     

Pet Supermarket has leased 9,000 sq. ft., bringing the center to 96% leased. The pet supply retailer is slated to open in first quarter 2011.

The 267,736-sq.-ft. shopping center is anchored by a 92,681-sq.-ft. Wal-Mart, Bealls and Publix, plus other retailers such as Dollar Tree, Hallmark, RadioShack and Bank of America.