News

Minneapolis – Target Corp. cut the compensation of former CEO Gregg Steinhafel to $13 million in fiscal 2013 from $20.6 million in fiscal 2012. According to a regulatory filing, Target decided to reduce Steinhafel’s total compensation after holding meetings and calls with shareholders owning 40% of total company shares and two proxy advisory firms.

Shelfbucks, a leading iBeacon promotion platform for retail stores, has appointed retail industry veteran Bill Martin, founder of ShopperTrak, as chairman of its board of directors.

Martin will oversee Shelfbucks' growth in the retail sector, guiding the company's strategic planning, operations and marketing efforts.

Topco Associates has appointed Linda Severin as VP, marketing. Severin will report directly to Topco president and CEO Randy Skoda.

“Linda brings a wealth of knowledge in branding and marketing to Topco that will benefit all our members,” Skoda said. “She has built and developed successful private label brands for industry leaders, and we are confident she will drive competitive advantage for our products and strong results for our members in their retail stores.”

London - Sainsbury’s has selected Quantum Retail Technology to provide software and services to help optimize its fashion and general merchandise inventory through improved allocation and replenishment functionality.  

Target has appointed Peter Glusker as SVP, new business integration and operations. Glusker will lead the integration of new acquisitions and comes onboard just two weeks after the company terminated chairman and CEO Gregg Steinhafel.

Deerfield, Ill. – The Walgreens Co. is reportedly considering making a purchase offer for U.K.-based drugstore chain Alliance Boots. Walgreens, which owns 45% of the company, has an option to purchase the remaining 55% between February and August 2015, but according to The Telegraph may try to make an offer even sooner.

Office Depot has integrated its Office Depot and OfficeMax brands by launching on Sunday a single, combined insert offering savings on products and services being offered at both retail banners.

The move marks the first advertisement where Office Depot and OfficeMax customers will see the two national brands together as one.

Hamilton, Bermuda - Signet Jewelers Ltd. has closed the offering of $400 million senior unsecured notes due 2024 by Signet U.K. Finance PLC (a wholly owned indirect subsidiary of Signet). The notes will bear interest at a rate of 4.7% per year and mature on June 15, 2024.