News

MINNEAPOLIS — First quarter earnings at Target exceeded a profit forecast the company increased last month after a strong start to the quarter.

MINNEAPOLIS — The president of Shoppers Food and Pharmacy will transition to a new role, parent company Supervalu announced Tuesday.

New Albany, Ohio -- Abercrombie & Fitch Co. reported a 88% decline in its first quarter profit, hurt in part by difficult market conditions in Europe.

For the quarter ended April 28, retailer earned $3.0 million compared with $25.1 million last year. Sales rose 10% to $921.2 million, but same-store sales were down 5%.

NASCAR fans will become very familiar with Target, if they aren't already, as the retailer plans to expand its presence in NASCAR during the Sprint All-Star and Coca Cola 600 race weeks. In addition to being the presenting sponsor of the Blake Shelton pre-race concert, Target will have nine branded race carts providing samples of their grocery items in the campgrounds surrounding Charlotte Motor Speedway, a Target Taste Wagon as well as a Target Shuttle that will provide fans transportation to the Target in Kannapolis, N.C.

Framingham, Mass. -- Staples Inc. said its first-quarter net income fell 6% to $187.1 million, compared to $198.2 million a year ago, hurt by weakness abroad.

Total sales fell 1.1% to $6.1 billion. International sales, which account for roughly 20% of the company’s total revenue, dropped 8% to $1.2 billion. In the United States, Staples’ revenue was flat.
 

TAMPA, Fla. — Sam's Club has signed a deal with Triad Retail Media to provide pet care information on its website, Triad said Wednesday.

As part of Chain Store Age’s lead-up coverage to RECon 2012, to be held May 20-23 in Las Vegas, we talked with DLC’s Daniel Taub about what his expectations are for the big real estate show. Visit DLC’s booth at RECon, Upper South Hall, S2235.

IndyCar driver Dario Franchitti will honor sponsor Target's 50th anniversary by using the using the number 50 on the car he will use at the Indianapolis 500. The car will feature a paint scheme that uses the Target bullseye in place of the zero. Franchitti regularly uses the No. 10 car. Read more.