Mass Merchant

After a year of steadily declining delinquency rates in Target’s credit portfolio, January proved to be a month of stabilization as the percentage of those 60 and 90 days past due on their accounts held steady when compared with the prior month. Accounts 60 days past due represented 4.2% of credit card receivables in January and accounts 90 days past due represented 3.1%. Both figures were identical to levels recorded in December, but well below peak levels seen in February 2010 when the 60 and 90 day past due rates hit their fiscal year peaks of 6.1% and 4.5%, respectively.

Washington, D.C. -- Kohl’s Corp. ranked second on the U.S. Environmental Protection Agency’s Green Power Partnership’s latest ranking of the Top 50 partners using the most renewable electricity.

Kohl’s joined the top-ranking Intel as the only two partners using more than 1 billion kWh of green power. The retailer increased its green power purchase to more than 1.4 billion kWh of green power annually.

Natick, Mass. -- BJ’s Wholesale Club confirmed on Thursday that it will potentially put it up for sale.

It’s been more than five years since Walmart introduced its goals of being supplied 100% by renewable energy, creating zero waste and selling products that sustain people and the environment. These audacious goals initially fell under the umbrella of sustainability, but now we get word out of Miami that sustainability has been transformed to “sustainagility.”

New York City -- Dillard’s was the clear winner in the department store category in January, posting a same-store sales increase of 6%, which edged results from both Macy’s and Saks.

J.C. Penney Co. was the big disappointment, as same-store sales dropped an unexpected 1.2%. A survey of analysts by Thomson Reuters produced a consensus estimate of same-store sales up 1.8%.

The retailer said January sales were impacted by lower levels of clearance inventory as well as by adverse weather conditions.

NAPERVILLE, Ill.  — OfficeMax announced the launch of DiVOGA desk products and accessories featuring the limited edition Catherine collection. According to the company, the line features a contemporary take on the traditional brocade patterns dating back to eighteenth century Europe. 

DiVOGA Catherine is available for purchase at OfficeMax stores nationwide and other select retail partners of OfficeMax starting February 2011.

MINNEAPOLIS — Target said that although its comparable-store sales were below expectations in the South and Northeast, the company believes overall sales will be driven by two of its recent initiatives.

Target chairman, president and CEO, Gregg Steinhafel, said that while the company "expects the economy to remain challenging, Target's PFresh remodel program and REDcard Rewards 5% savings program continue to operate in line with expectations."

CITY OF COMMERCE, Calif. -- Ninety-nine Cents Only Stores reported that retail sales for the third quarter ended Dec. 25 increased by 1.5% to $354.1 million and same-store sales decreased 0.7%.

Consolidated net income increased by $2.1 million to $26.6 million, or 38 cents per diluted share, versus $24.5 million in the prior year, or 35 cents per diluted share