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  • Target completes sale of credit card portfolio to TD Bank

    Minneapolis -- Target Corp. said it has completed the sale of its entire consumer credit card portfolio to TD Bank Group for $5.7 billion, the gross value of the outstanding receivables at the time of closing.
     

  • Target Canada off on right note with Bublé partnership

    TORONTO — Target Canada has announced its first entertainment sponsorship with three-time Grammy award-winning singer and songwriter Michael Bublé. The retailer will sell an exclusive deluxe edition of Bublé's highly anticipated sixth studio album, "To Be Loved."  The exclusive version of the album, featuring three bonus tracks, will hit stores April 22 and continue to be available as Target stores open across Canada throughout 2013.

  • Rebates: Invigorate 2013 Marketing Efforts With Promos That Move the Needle

    By Theresa Wabler, [email protected]

    As retailers and manufacturers settle into the reality of the “new normal” of shoppers who  will continue their frugal consumption habits amidst recession or not, it’s crucial to employ promotional tactics that generate significant, lasting value, not just a flash in the pan. As marketers consider their options, one tried and true promotional tactic should be included to yield definite results: rebates.

  • Bongo helps online wholesaler go international

    SCOTTSDALE, Ariz. — DollarDays.com, an online wholesale distributor, has recently joined forces with Bongo International to offer customers located worldwide the same discounts and service that U.S. clients have enjoyed for over 12 years. Bongo International is a global e-commerce solution providing U.S. retailers access to international markets with no change to their current operations.

  • Ulta Beauty names CFO

    Bolingbrook, Ill.  — Ulta Beauty has appointed Scott Settersten as CFO and assistant secretary, effective immediately. Settersten will report to Dennis Eck, interim CEO.

    Settersten has been acting CFO and assistant secretary since October 2012. He joined Ulta Beauty in January 2005 as director of financial reporting.

    Prior to joining Ulta Beauty, Settersten spent 15 years with PricewaterhouseCoopers as a certified public accountant serving in various senior manager roles in the assurance and risk management practices.

  • Michaels crafts a Q4 comps increase

    IRVING, Texas — Michaels Stores reported that net sales for the fourth quarter increased 8.5% to $1.5 billion from $1.4 billion for the same period last year. Quarterly same-store sales increased 1.7% driven by a 2.3% increase in average ticket and a 0.6% decrease in transactions. 

    The company reported that operating income increased 13.7% to $266 million, and as a percent of net sales increased 80 basis points to 17.5%. Net income increased to $112 million, and as a percent of net sales, increased 40 basis points to 7.3%.

  • Cobbs Ford Village opening spring 2014

    Prattville, Ala. -- Brentwood, Tenn.-based GBT Realty said that it is bringing Starbucks Coffee, Aspen Dental and Firehouse Subs to Cobbs Ford Village, a new, in-line shopping center located in Prattville, Ala., in the Montgomery MSA. 


    Cobbs Ford Village is approximately 2.52 acres and will house several additional tenants that are now in the beginning stages of signing leases. Groundbreaking for the center will be this April, with an estimated opening date of spring 2014.

     

  • Hot Topic Q4 profit surges, topping expectations

    City of Industry, Calif. -- Hot Topic reported net income in the fourth quarter ended February 2, 2013, of $12.1 million, up from $9.0 million in the year-ago period.

    Total sales for the fourth quarter increased 11.0% to $233.0 million, compared to $209.9 million last year. Total same-store sales increased 2.6%. (Due to the 53rd week in fiscal 2012, fourth quarter comparable sales are compared to the corresponding 14 week period ended February 4, 2012.)

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