eCommerce

Oak Brook, Ill. -- McDonald’s Corp. reported Tuesday that consolidated revenues for fiscal 2011 rose 12% to a record-high $27 billion. The restaurant chain also said that global same-store sales increased 5.6% for the year ended Dec. 31, with positive comps across all geographic segments for every quarter.

"During 2011, McDonald's continued momentum drove higher profitability and market share gains as we fortified our leadership position around the world," said McDonald's CEO Jim Skinner.

Minneapolis -- Target Corp. announced Tuesday it has promoted current senior VP-finance John Mulligan to executive VP and CFO, effective April 1.

The announcement concludes a comprehensive search which included both internal and external candidates, said Target.

Mulligan succeeds Doug Scovanner, who announced his retirement last November.

A 16-year Target veteran, Mulligan has held leadership positions in finance, target.com and human resources.

Menomonee Falls, Wis. -- Kohl’s Department Stores said Tuesday it will build a new e-commerce distribution center in DeSoto, Texas, outside Dallas.

The 951,000-sq.-ft. DC, which is slated to open in summer 2012, will fulfill Kohls.com purchases. Kohl’s said it will close on the agreement once the building process is complete.

York, Pa. -- The Bon-Ton Stores said Tuesday it has appointed Brendan L. Hoffman as president and CEO, effective Feb. 7.

Hoffman replaces Bud Bergren, who is a current member of the board of directors and who will transition to the role of the chairman.

New York City -- A New York state Supreme Court filing on Monday disclosed that Macy’s Inc. is suing Martha Stewart Living Omnimedia Inc. for breach of contract after Martha Stewart set up a new deal last December with J.C. Penney to sell products at its stores.

According to Macy's, Martha Stewart Living granted it product exclusivity under a 2006 agreement. J.C. Penney, which acquired a 16.6% stake in the company in December, plans to open Martha Stewart Living in-store shops, beginning in 2013, which violates that exclusivity, said Macy’s.

SAN FRANCISCO — Williams-Sonoma has announced that Mary Ann Casati and Lorraine Twohill have been elected to its board of directors.

“We are excited to have Mary Ann and Lorraine join our board,” said Adrian Bellamy, chairman of the board of directors of Williams-Sonoma Inc. “These two individuals each bring a unique perspective and expertise that we believe will help shape the success of our company.”

SAN FRANCISCO — Home Depot has announced the purchase of Redbeacon, an online matchmaker that connects consumers with contractors for home repairs, maintenance and remodeling. The purchase price was not disclosed. 

NEW YORK — Retailers will have to rethink their position in the market, along with strategies they have used thus far, to keep themselves in the game, according to a new Deloitte report, "The Next Evolution: Store 3.0."

One thing merchants know about markdowns is they are best taken early and at a modest level to stimulate sales as opposed clinging too long to the belief goods will sell at full price only to realize steeper cuts are needed. Apparently this philosophy doesn’t apply in the financial services world where Target has temporarily suspended the sale of its credit card receivables portfolio on better terms.

Target chairman, president and CEO Gregg Steinhafel was elected chairman of the board of the Retail Industry Leaders Association (RILA).

Steinhafel previously served as the board’s vice chairman and in his new capacity succeeds former RILA board chairman Bill Rhodes, chairman, president and CEO of AutoZone.