Mass Merchant

Jose Barra, SVP health care and beauty at Target, is among four new members elected to join the 21-member board of directors of the National Association of Chain Drug Stores (NACDS). Barra’s appointment was announced at the NACDS Annual Meeting held this week in Scottsdale, Ariz. Other new members include, Jerry Cline, SVP retail sales and marketing at Good Neighbor Pharmacy; Lynne Fruth, chairman of the board of Fruth Pharmacy and Steve Kaczynski, CEO of Navarro Discount Pharmacies.

Target was among the major U.S. companies who were quick to step up after the wave of tornadoes brought unprecedented death and destruction to communities throughout the Southeast. Target donated $200,000 in cash to the American Red Cross to support tornado relief efforts and made an additional donation valued at more than $75,000 that included product and relief kits, which contained hygiene and food items for distribution in the hardest-hit areas.

PLANO, Texas -- JCPenney has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.

Plano, Texas -- J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.

The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company's liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.
 

New York City -- Hudson’s Bay Co. will test its HBC’s Home Outfitters concept in the United States, opening two stores in New Jersey in late summer, The Globe and Mail reported.

If successful, the company will further expand the home-goods concept, which will be called Lord & Taylor Home in the United States. (Hudson’s Bay and Lord & Taylor are owned by Purchase, N.Y.-based NRDC Equity Partners.)

The most recent pricing survey from the equity research team at Credit Suisse shows that Target is either 3.1% more expensive or 1.9% less expensive than Walmart. The firm compared prices at stores in the Dallas and Chicago markets, as it does every month, and during March discovered the gap between the two competitors narrowed considerably.

“Target’s price gap with Walmart tightened from 4.2% in February to 3.1%,” according to the firm. “Target’s basket price decreased sequentially by 0.8% compared with Walmart’s 0.3% increase.”

New York City -- Triple Five Worldwide Development Co. LLC, owner of the Mall of America in Minnesota, reached a deal with lenders and New Jersey Governor Chris Christie to complete and expand the stalled Meadowlands Xanadu entertainment complex in East Rutherford, N.J., Bloomberg reported.

LAKELAND, Fla. -- Publix Super Markets announced that it has established a program to offer its customers and associates a way to directly assist those areas in the South affected by recent tornadoes and severe weather. Customers may donate any amount by adding it to their grocery totals when checking out at Publix registers. Collected money will be channeled through the American Red Cross and designated specifically for the Southern Storms disaster relief efforts. The program will continue for a few weeks, based on customer response.