The downtown St. Paul store is one of five Macy’s stores set to close this spring; meanwhile, Macy’s will consolidate its two Ridgedale Center stores into a single expanded location.
Tourism
Still, the retailer expects fourth-quarter earnings per share to “meet or somewhat exceed” the low end of its previously announced guidance.
A Jefferies & Company analyst said Target struggled in its online execution, experienced soft December sales and poor results for a joint initiative with Neiman Marcus, saw more price competition, and increased its markdowns during the holidays.
Inside the burger battle brewing by Lake Calhoun.
Prior to the collection’s launch, Target reportedly ramped up the inventory, limited the number of designer items that shoppers could purchase, and beefed up its website to handle large demand.
Stephen Gillett, who leaves at a time when Best Buy is trying to boost its share of the online market, will serve as executive vice president and chief operating officer at Symantec—a major Best Buy vendor.
Best Buy’s stock, which had jumped Thursday on speculation that Richard Schulze was poised to make a takeover bid, returned Friday to where it had been trading previously, following news that Schulze’s deadline has been pushed back to February.
A Merrill Lynch analyst reportedly said that a Best Buy buyout is unlikely due to the difficulty of obtaining necessary financing; she also restored an “underperform” rating to Best Buy’s stock.
Target’s collaboration with Neiman Marcus got off to a slow start, according to a report; in a move unrelated to the partnership, Target Chief Marketing Officer Jeff Jones said in a new video that the retailer will focus on “content instead of campaigns.”
TechForward accused Best Buy of stealing its concept for a buy-back program; Best Buy said it “completely disagrees” with the size of the award in the case and plans to “vigorously challenge this verdict.”
Upscale retailer Saks Fifth Avenue’s discount division will open a 28,000-square-foot anchor store at a planned outlet mall in Eagan.
Can a local company turn a Breathalyzer into an entertaining saloon pastime?
Steven Spiegel will replace Brent Moen, who has held the top financial post at Regis for less than two years.
The 1 percent same-store sales decline, which failed to meet the expectations of both the company and Wall Street analysts, was driven by weak performance during the first two weeks of the month.
A Target-themed caravan will make stops in close to two-dozen cities across the country within the first two weeks of December; at each stop, Target will offer events that are open to the public.
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.
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.”
Local upstart Massage Retreat takes on industry leader Massage Envy.