News

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

LONDON — In honor of Queen Elizabeth's Diamond Jubilee, Asda's George division has created an exclusive, limited edition Big Jubilee Lunch t-shirt for women.

The steady erosion of newspaper circulations naturally has led many to predict that the printed ad circular is not much long for this world and will quickly disappear as consumers demand more digitized ads and coupons. Last year, the Associated Press, along with 32 other publishers and 30 retailers, launched iCircular to help stave off declining ad revenue.

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

When JCPenney hired former Target chief marketer, Michael Francis, to serve as president, the company no doubt thought he would bring with him a bit of Target's magic. Now, about six months since he assumed his role at JCPenney, the company has undergone a number of personnel changes and the implementation of its new "fair and square" price strategy, and investors are waiting for it to pay off.

NEW YORK — Kara Laricks has been named the first winner of NBC's reality competition show, "Fashion Star," and as part of her prize, the designer will launch an exclusive collection at Macy's that is available at 110 Macy's stores across the country and on Macys.com for a limited time.

"We are extremely excited to have NBC's "Fashion Star" winner Kara Laricks collection sold exclusively for Macy's," said Martine Reardon, chief marketing officer for Macy's. "This show has been an amazing

WASHINGTON — Tanna Dang, a boutique owner in Honolulu, Hawaii was awarded the top $25,000 prize in the National Retail Federation’s inaugural “This is Retail” video contest. Florida’s Kim Williams of The Polka Dot press came in second place and will take home $15,000 and Illinois’ Susan Kaufman will take home $10,000 for third place. Nearly 1 million votes were cast by the public through NRF’s Retail Means Jobs website to choose the contest winners.

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.

 

Target's headquarters, known as Target Plaza has won in the corporate facility category of The Outstanding Building of the Year competition. Read more.

FRAMINGHAM, Mass. — First it was OfficeMax, now Staples reported sales and earnings that were reflective of a struggling retail sector. The company reported that total sales for the first quarter of 2012 were $6.1 billion, a decrease of 1% in U.S. dollars and flat on a local currency basis compared with the first quarter of 2011. Net income for the first quarter of 2012 decreased 6% year-over-year to $187 million. Diluted earnings per share, on a GAAP basis, decreased 4% t to 27 cents from 28 cents achieved in the first quarter of 2011.