News

CINCINNATI — Long-time Kroger executive Tim Brown will now be responsible for stores in Western Tennessee, Kentucky, Mississippi, Arkansas and Missouri as president of the company's Delta division.

Brown, 52, has been VP operations in the company's division, based in Roanoke, Va., since 2011; before that he served as the Mid-Atlantic division's vice president of merchandising since 2009.

MINNEAPOLIS — Target has completed its $10 billion share repurchase program.

The program, which was authorized by the retailer's board of directors in November 2007, represents the repurchase of 193.5 million shares, or nearly 23% of its outstanding shares from that time period, at an average price of $51.68 per share.

Target will continue to repurchase shares under the $5 billion program approved by its board of directors in January, which it expects to complete in the next two to three years.

By Tim Callan, timcallan.blogspot.com

With store closures and falling revenue threatening major retail chains, maximizing store productivity is more important than ever before. While it’s been proven for many years that website analytics can drive dramatic improvement in online retail environments, so far most brick-and-mortar retailers are engaged in only rudimentary measurement.

Zara, part of Spain’s Inditex Group, has opened its biggest U.S. location, a 32,000-sq.-ft., three-level flagship on a primo stretch of Manhattan real estate: Fifth Avenue at 52nd Street. The store is part of a 90,000-sq.-ft. retail condominium that also houses Hollister and Uniqlo flagships.

LONDON — Walmart's U.K. subsidiary Asda is making it easier for brides to feel special on their wedding day by launching a new bridal lingerie line at its George stores. 

The retailer has a launched a four-piece "bridal inspired" collection that ranges from 11.50 to 16 GPB. According to Asda this is 1,639% cheaper than the most expensive alternative. 

DALLAS — Alliance Data Systems Corp. announced that its Canadian coalition loyalty business has signed a new multi-year agreement with Toys“R”Us, Canada to issue air miles reward miles in its 73 stores across Canada effective March 23.

The Air Miles Reward Program is Canada’s premier coalition loyalty program, with approximately two-thirds of Canadian households actively collecting reward miles.

NEW YORK — Though rising gas prices put a damper on consumer sentiment in March, Americans are no longer shocked by $4 gasoline.

The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment slipped to 74.3 from 75.3 in February, contrary to economists' forecasts for a gain to 76.0.

Despite this dip, consumers are confident the employment situation will improve.

HOFFMAN ESTATES, Ill. — Select Sears hometown dealer stores and Sears Hardware stores were the latest to hit the chopping block at Sears Holdings, as the company continues to implement plans to reduce expenses. The company revealed in a Wednesday document that it will close 43 Sears hometown dealer stores and 10 Sears Hardware stores over the first half of 2012.