Data & Analytics

Shares of Target may hit $100 six or seven years from now, but looking ahead to next year Morgan Stanley analyst Mark Wiltamuth believes the stock should be trading at $64. He recently initiated coverage of the company with a “buy” rating and, like some other analysts, believes investors may be seeing a once-in-a-generation opportunity to purchase shares at valuation levels depressed by uncertainty around the company’s entry into Canada.

At least one retail analyst saw Target’s Black Friday in July promotion last week as an exercise in creative marketing and evidence that even bigger things could be coming this fall when the retailer ends a relationship with Amazon and brings its online efforts in-house.

Citigroup retail analyst Deb Weinswig said the Black Friday promotion “should also help to reinforce Target as a destination for deals and value ahead of the up-coming back-to-school and holiday seasons.”

NEW YORK — Global consumer confidence cautiously edged up one index point to 93 in the second quarter as confidence increases in booming Asian markets were offset by European consumers’ growing concerns of an escalating debt crisis, which battered confidence levels in Spain, Italy and France, according to the latest edition of the Nielsen Global Consumer Confidence Index. Consumer confidence rose two points in the U.S. in Q2 to 87.

New York  — Parago, the nation’s largest rebate provider, has announced the launch of GoRebate Mobile, the first mobile shopping applications for iPhone and Android focused on rebates that allow marketers to deliver rebates directly into the hands of value-seeking consumers.  

PLEASANTON, Calif. — Safeway announced Thursday that the president of its Chicago-area Dominick’s Finer Foods division, Don Keprta, has resigned.

“Don has contributed significantly to the Dominick’s stores. His commitment and innovation helped the stores evolve to best serve the Chicagoland customers. We are fortunate that he has produced a team that is prepared to continue to build on our current momentum,” said chairman, president and CEO Steve Burd.

COMMERCE, Calif. — 99 Cents Only Stores reported total sales of $368.3 million for the first quarter of fiscal 2012 ended July 2.  This represents an increase of 6.3% over total sales of $346.5 million for the same quarter last year.  

Pittsburgh — Giant Eagle on Thursday unveiled its first two compressed natural gas fueling stations in the Pittsburgh area at its Beechnut Drive retail support and distribution center, according to a report by Drug Store News.

Shanghai — Wal-Mart Stores Inc. announced it has appointed its current Canada finance chief Sean Clarke as COO over the company’s China operations, after former CFO Roland Lawrence and COO Rob Cissell left the company in May.

According to a report by Bloomberg, Clarke will be joined by Steve Smith, named chief marketing officer in China. Smith was senior VP at Delhaize Group.