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Mass Merchant

  • Collective Brands earnings, comp down in Q1

    Topeka, Kan. — Collective Brands reported that first-quarter 2011 net earnings were $26.4 million, or 42 cents per share, compared with $54.2 million, or 83 cents per share, in the first quarter of 2010.

    The company reported that net sales decreased 1.1% to $869 million. Same-store sales were down 7.4%. 

  • Four chains honored with ICSC Hot Retailer awards

    Las Vegas — The International Council of Shopping Centers has named Athleta, Smashburger, Aldi and Fossil as the 2011 Hot Retailer Award winners.

    The annual awards, based on a survey of ICSC’s worldwide members, were presented Tuesday at the association’s global retail real estate convention, REConn.

  • Target donates $50K to tornado relief in Minnesota

    Minneapolis — Target announced its donation of funds and product to support tornado relief efforts in Minnesota.

    The funds, which totaled $50,000, will help the efforts of the American Red Cross and Salvation Army.

    “We take seriously our responsibility as a retailer, employer and community member to aid in times of need,” Target chairman, president and CEO Gregg Steinhafel said. “Before and after a crisis, communities can count on Target.”

  • Growth potential intact at Walmart China despite exec departures

    Shenzhen, China — Walmart will be looking to capitalize on compelling growth prospects in China under the leadership of new senior executives following the simultaneous departure of CFO Roland Lawrence and COO Rob Cissell.

    Both men left the company to pursue other development opportunities, according to Walmart, leaving leadership of Chinese business in the hands of Walmart China president and CEO Ed Chan and Wal-Mart Stores Asia president and CEO Scott Price.

  • Disney Store celebrates 25 years with new and remodeled stores

    Pasadena, Calif. — Disney Store plans to open its interactive concept stores in more than 40 locations in 2011 the company announced today at the Global Retail Real Estate Convention in Las Vegas.  The company said that by the end of 2011, it will have 60 new concept stores in 16 major markets in North America and eight countries.

  • There’s more than one way to generate traffic

    Sharp pricing on an expanded assortment of food and consumables is one way for Target to get customers to shop its stores more frequently, but this week saw the company break out another type of trip generator with the cover of its weekly ad featuring tee shirts and shorts at an opening price point of $3.

    At that price, moms have pretty low expectations of quality. Cut and color matter more than the finish work on seams, since the clothes only need to last for a couple months until summer. The garments will be outgrown by next summer and the cycle repeats itself.

  • Target remains confident in the face of sales and expense pressures

    Target CFO Doug Scovanner moderated analysts’ second-quarter and full-year earnings expectations slightly, although it can at times be difficult to tell given the language used to communicate in the Wall Street guidance game.

  • Sears CFO calls it quits

    Hoffman Estates, Ill. — Sears Holdings has named William Phelan as acting CFO, replacing Michael Collins, currently SVP and CFO, who resigned last week to pursue another opportunity, the company reported in an SEC filing.

    Collins will remain with the company until June 10 in order to ensure a smooth transition, Sears noted in the filing.

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