Sales & Marketing

Another week and another full page ad in Target’s circular touting the REDcard Rewards program launched last fall. Nothing unusual about that right? The 5% savings program has been promoted heavily since its arrival last October to the point where it is impossible to look anywhere in a store and not seen 5% Rewards signs.

Boston -- Gordon Brothers Group, a global investment, lending and advisory firm, and WME, a leading talent agency, jointly announced the formation of a strategic partnership to identify, acquire and often revitalize undervalued, distressed or orphaned consumer product and retail brands.

Currently, Gordon Brothers Group and WME are evaluating a host of potential brands to acquire. Some of Gordon Brothers Group's current brand investments include Linens 'N Things and The Sharper Image.

New York City -- New York City residents spent nearly $200 million at about a dozen Walmart stores in the New York metropolitan area in 2010, up about 20% from the amount reported in a previous 12-month period, the company said Monday, according to Crain’s New York.

Although Wal-Mart does have any stores in New York City proper, the chain is determined to break into the market and is working to overcome opposition from labor, community and small business groups.

In the February issue of Chain Store Age, in our focus on mall-based social media (page 52), we referenced a fourth quarter 2010 study by Alexander Babbage, entitled the “Shopping Center Social Media Benchmark Report.”

Following are more details about the study, which found that “social media tools and networks are making it easier for shopping centers to relay information, interact with customers and generally stay connected.” 

Framingham, Mass. -- The TJX Cos. said Tuesday that it has restructured its executive management as part of the retailer’s ongoing leadership succession planning.  

Carol Meyrowitz has inked another two-year employment agreement as CEO. Ernie Herrman has been promoted to president of TJX Cos. from his post of senior executive VP group president.

Meyrowitz will now have Herrman and Jeffrey Naylor, senior executive VP CFO and chief administrative officer, reporting to her.

San Francisco -- Gap announced Tuesday that Marka Hansen president of Gap North America, has resigned, effective Feb. 4.

According to Glenn Murphy, Gap chairman and CEO, the decision to change leadership was mutual.

“After several conversations, Marka and I agreed this was the right time for a change in the organization in order to take Gap brand to a new level,” he said.

The apparel retailer said it has identified an internal successor to Hansen, who will be announced in the next day.

New York City -- A report released Monday by Bloomberg said that J. Crew Group’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP has fallen apart.

Citing a lawyer for the shareholders, the report said that J. Crew officials undermined a deal in which the clothier agreed to extend the period to solicit competing offers to the $3 billion buyout bid. The accord also included a $10 million payment to plaintiffs.

Short Hills, N.J. -- Bloomfield Hills, Mich.-based Taubman Co. announced that The Cheesecake Factory and Forever 21 will open at the company’s Mall at Short Hills, located in Short Hills, N.J.
 
Cheesecake Factory is slated to open a full-service restaurant, bakery and bar this summer. Forever 21 will open a 40,000+-sq.-ft. store in late 2011.

The Mall at Short Hills features 160 specialty stores and restaurants along with anchors Bloomingdale's, Macy's, Neiman Marcus, Nordstrom and Saks Fifth Avenue.