News

Walmart Canada has a few years to get ready for the arrival of Target following yesterday’s major announcement that its arch rival would be heading north of the border via an acquisition. That is the same strategy Walmart employed all the way back in 1994 when it bought 122 former Woolco stores. Walmart now operates 323 stores in Canada, and by the time Target gets around to opening its first units in 2013 that figure will probably be closer to 400.

San Francisco -- Williams-Sonoma's strong holiday sales performance prompted the home-products retailer to lift its fourth-quarter and full-year earnings and revenue forecasts on Thursday.

Revenue climbed 10.5% to $865 million for the eight-week holiday period ending Dec. 26, 2010. Same-store sales rose 5%.

By Rudy Pataro,  [email protected]

Minneapolis -- Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years. The company announce that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson's Bay Co., the leasehold interests in up to 220 sites currently operated by Zellers. This transaction will allow Target to open its first Target stores in Canada beginning in 2013.

Chicago -- Walgreens’ massive Customer Centric Retailing initiative is transforming the way the company’s stores are merchandised and designed as it rolls into an ever-larger proportion of its more than 7,600 stores across the United States. But it’s only the opening drive in a campaign to “reinvent the customer experience in our stores,” president and CEO Greg Wasson told shareholders Wednesday.

New York City -- An overwhelming majority (86%) of small-business respondents (86%) say that keeping their customer card information secure and feel payment-card data security is important to their business. But 60% are unaware of the costs they could incur in the event of a breach. Those are among the results of a research study of data security and fraud-prevention strategies practiced at small- to mid-sized retailers. The study is from the National Retail Federation and First Data Corp.

PLANO, Texas - JCPenney announced that, for the third consecutive year, it was ranked number one among department store retailers in the Customers' Choice survey released by the NRF Foundation and American Express.

NEW YORK -Tiffany & Co. announced that James Quinn will retire in early 2012. Quinn joined Tiffany in 1986 and has served as president since 2003, responsible for the company’s sales outside the Americas.

ATLANTA - The Home Depot announced that Aaron Carmack has been promoted to president, The Home Depot Canada, effective Jan. 31.  Carmack, the current regional VP of the Pac North region in the U.S., is replacing Annette Verschuren, who is leaving the company after nearly 15 years of service.

Tracy, Calif. -- Retail Custom Solutions, a developer of specialty retail systems announced today that Overland Sheepskin Co. has gone live with RMS.NET V6.1 for its retail, web and catalog-based customers.