The retailer’s first-quarter net loss totaled $81 million, and its revenue declined nearly 10 percent; cost-cutting initiatives and the shift in the timing of Super Bowl-related sales both contributed to the declines.
Tourism
Target opened a new office in San Francisco that will focus on finding and fostering partnerships for technological innovation.
A former employee of Memory Lane Classics, a car restoration company in Chisholm, was charged Tuesday with wire fraud and transaction money laundering.
Bellisio Foods has agreed to acquire frozen food products manufacturer Overhill Farms, Inc., which provides branded and private-label frozen food products for businesses in the foodservice, retail, and airline industries.
Granite City Food & Brewery’s revenue increased by 22 percent and its loss narrowed in its most recent quarter.
Chief Financial Officer Sherry Smith was scheduled to leave Supervalu at the end of May but is now staying on until the end of July for an extra $300,000, in addition to her usual salary.
Meng Zhou will act as president of Best Buy China and CEO of the company’s Five Star electronics chain.
The acquired company, Sensational Beginnings, will function as a sister company of Creative Kidstuff under the umbrella of a new holding company.
The salon company reported a more modest decline in same-store sales, but its revenue and adjusted earnings fell short of analysts’ predictions.
Holiday Stationstores purchased seven of its rival’s convenience stores in Rochester and plans additional growth.
The Orvis Company purchased Scientific Anglers and Ross Reels from 3M, and plans to maintain the companies’ independence.
The electronics retailer is selling its stake in a European joint venture for roughly half of what it initially invested in the business; but analysts expected the divestiture, and investors responded positively.
"If a business has to go under, I'd prefer that it be a chain," Nancy Breymeier, co-owner of the Amore coffee shop, said.
A recent feasibility study shows that a new convention hotel in Minneapolis would cost about $300 million, and 41 percent of that cost would need to come from public subsidies.
Resort operator Vail Resorts purchased St. Louis Park-based outdoor retailer Hoigaard’s for an undisclosed sum.
Supervalu, which is now about half of its previous size following the sale of several brands, reported a widened loss and declining sales, but analysts responded positively to remarks from the company's new CEO.
The longer than usual winter helped boost Polaris' snowmobile sales, although it hurt parts of the company's business that depend on warmer weather, including motorcycle sales.
What began as a snowmobile maker is now the number one powersports company in the United States—and speeding toward becoming a global small-vehicle manufacturer.