In an attempt to become more nimble, Best Buy has opted to eliminate a layer of top management in its U.S. operations as the company continues to face declining sales.
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Target, which has been seeking a buyer for almost two years, said that it will “continue to earn a substantial portion of the profits” generated by its credit card portfolio.
Prabal Gurung—whose creations have been worn by Michelle Obama, Kate Middleton, and Lady Gaga—has designed a limited-edition collection of women’s apparel and accessories that will hit Target shelves in February.
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The three events—which will take place over the next three years—will together generate an estimated $3.9 million in economic impact.
While reporting disappointing second-quarter financial results, Supervalu said that it is in “active dialogue with several parties” regarding a potential sale.
The announcement—which St. Paul Mayor Chris Coleman said is “in the interest of transparency”—comes five days after the Taxpayers League of Minnesota filed a lawsuit to halt construction of the $54 million stadium, claiming a violation of public bidding procedure.
Princeton hopes that an entrepreneurial contest will attract new businesses and strengthen its downtown economy.
Despite huge crowds and a few broken glasses, the annual Zombie Pub Crawl is no nightmare for bar owners.
Jim Muehlbauer, who joined Best Buy a decade ago, will depart the company by the conclusion of its fiscal year; meanwhile, founder Richard Schulze is reportedly making progress toward a buyout bid.
The store will be fully stocked for the holidays and will offer items from the highly anticipated limited holiday collection that Neiman Marcus and Target partnered to create.
Famous Dave’s has elected one of its board members to serve as CEO and shifted its current chief executive into the role of president and chief operating officer.
A new partnership, through which Geek Squad service plans are being sold on EBay, comes after similar deals that Best Buy struck with Target and Verizon.
While Minneapolis-based Target was one of the first retailers to oppose a proposed $7.5 billion settlement in a major antitrust dispute involving credit-card processing fees charged to merchants, Eden Prairie-based Supervalu is among those that support it.
The company, which plans to hire roughly 15 employees in the near term, outgrew its space in the Fifth Street Towers and has relocated to the Campbell Mithun Tower in downtown Minneapolis.
The retailer, which reported a same-store sales jump of 2.1 percent last month, said that its decision to stop releasing monthly sales figures will “provide greater understanding of our sales results in the context of our overall financial performance.”
Minnetonka Moccasin said Target began selling shoes with “a beaded thunderbird design nearly identical” to its own design after the Minnetonka company passed on an opportunity to sell its products in Target stores.