News

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

NEW YORK — U.S. retail sales fell 0.4% in March, the biggest decrease in nine months, amid a slowdown in hiring and higher taxes. Excluding sales of autos, gas and building materials, core sales dropped 0.2% in March, following a 0.3% increase in January.

WOONSOCKET, R.I. — CVS/pharmacy will offer up to 1 million free smartphones to eligible customers, in an effort to encourage shoppers to use its mobile app.  

Consumers who want a new smartphone or who are eligible for a device upgrade with their current mobile service provider can visit the site and choose from a variety of Android smartphones. They can then sign up for a new contract or upgrade to a two-year contract, and the phone will be shipped directly to them.

LEXINGTON, Ky. — Tempur-Pedic has partnered with HGTV to feature a wide range of sleep products in the first-ever HGTV Smart Home, which showcases the latest products in home technology, coupled with eco-friendly features. 

Built by HGTV in the community of Paradise Key South Beach in Jacksonville Beach, Fla., the high-tech home will be awarded to a winner on June 13, as part of an HGTV Smart Home Giveaway.

LOS ANGELES — Walgreens has partnered with NBC to launch a new web series inspired by NBC’s hit weight-loss competition series "The Biggest Loser."

The series follows former contestant Filipe Fa's journey to lose weight and keep it off once and for all.

INDIANAPOLIS — Frigidaire and Hhgregg are encouraging customers to get more organized through a special sweepstakes offering daily prizes and Frigidaire’s french door refrigerators through April 27.

Throughout the sweepstakes a $100 gift card will be awarded daily. Frigidaire french door refrigerators in 28 cu. ft. and 27 cu. ft. sizes will be awarded to the grand prize and first and second prize winners, respectively.

London -- Brooks Brothers will adopt eCommera’s decision intelligence tool, DynamicAction. Designed to turn big retail data into prioritized actions, the solution integrates siloed data into a commerce-specific cloud solution which will allow the retailer to identify optimization opportunities to improve its overall online commerce performance.
 

Issaquah, Wash. -- Costco Wholesale Corp reported a 4% rise in same-store sales, missing analysts' expectations for a 5.2% increase. The company said its results were negatively impacted by lower fuel prices and a strong dollar, which hurt the value of its sales overseas.

Net sales at Costco rose 7%to $9.67 billion for the five-week period ended April 7.

Camp Hill, Pa. — Rite Aid  reported a $123.1 million profit for the fourth quarter and a $118.1 million profit for the fiscal year, compared with respective losses of $161.3 million and $368.6 million during the same period last year. It was the drugstore chain's second-straight quarterly profit and first annual gain in six years, amid  increases in prescription count  and front-end end sales.

Fort Worth, Texas -- Pier 1's fourth-quarter earnings fell 46% compared with last year, when the chain recorded a large, one-time tax benefit.

The company earned $61.7 million in the three months that ended March 2, compared with $115.2 million in last year's quarter. Revenue rose 16% to $551.6 million. Same-store sales climbed 7.9%.

For the full year, Pier 1 earned $129.4 million on $1.7 billion in revenue.

For its current fiscal year, the chain expects to open 30 stores.