The average U.S. holiday shopper spent $423 during the weekend, up from $398 last year—and total spending climbed about 13 percent to an estimated $59.1 billion.
Industry
The Minnetonka-based health insurer said that it expects to earn $5.25 to $5.50 per share in 2013, less than the $5.58 per share that analysts have predicted.
The line, which will debut May 5, features 20 styles of contemporary women’s footwear; Target said the partnership with Sam & Libby will be “ongoing.”
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Local upstart Massage Retreat takes on industry leader Massage Envy.
The companies are discussing a rollout of Caribou locations in existing stores.
Celebrate the holidays with your favorite clients in one of the Twin Cities’ delightfully private dining rooms.
Picking up the pieces after Neiman Marcus: Why high-end retail is a tough sell in the Twin Cities.
A Target employee just delivered a petition with more than 250,000 signatures to Target’s corporate headquarters and wants the retailer to reconsider its plan to open stores on Thanksgiving; but Target claims that many employees wanted to work on the holiday and that hundreds of stores have lists of volunteers waiting for shifts to open up.
The company said that its 26 percent drop in quarterly profits was due to $245 million in litigation expenses and the impact of foreign currency rates.
Best Buy’s stock price dropped as the company confirmed its expected decrease in quarterly earnings and same-store sales; meanwhile, founder Richard Schulze and CEO Hubert Joly will reportedly meet this week.
Dorsey & Whitney Managing Partner Marianne Short is leaving the firm at the end of this year to join UnitedHealth Group as chief legal officer.
A study by the Tax Foundation estimates that a Minnesota household earning $87,319 would pay an estimated $4,382 more in taxes in 2013 than they did in 2011, if Congress is unable to avert the so-called “fiscal cliff.”
The Austin-based company is rumored to be eyeing Hillshire Brands Company, whose brands include Jimmy Dean sausages, Ball Park hot dogs, and Sara Lee.
Pinkberry is the latest in a series of frozen yogurt shops to spring up in the Twin Cities—although, with more than 175 locations in 17 countries, it’s among the largest to establish a presence here.
The site was reportedly down for about an hour on Monday morning, and some customers got stuck online waiting for purchases to go through.
The Cleveland-based company will idle two of the four production lines at its Northshore operations in Minnesota while also reducing iron ore production elsewhere; the company said the changes are meant to “align with expected sales volumes.”
An annual study found that Twin Cities residents plan to spend $773 per household on holiday gifts this year, up from $703 last year.
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