Target’s board has finalized the decision to locate the company’s Canadian headquarters in Mississauga, Ontario, said president, chairman and CEO Gregg Steinhafel at a shareholders meeting in Pittsburgh on Wednesday.
Target reported a 2.8% same-store sales increase for May, falling short of Wall Street's expectation for a 3.5% increase, as consumers remained cautious with their spending.
Target plans to spend more than it had forecast this year on its entry into the Canadian market as it nails down more of the best retail locations sooner than expected.
To better connect with today's beauty consumers, mass market retailers should consider implementing a multisensory playground or a "BeautySphere," engaging them with a calendar of in-store pop-up activities and implementing a "roving endcap" as a cost-effective way to execute new ideas and highlight new products. Those were just some of the ideas that emerged Thursday evening during the Fashion Institute of Technology Class of 2011 Capstone presentations and graduation reception in New York.
Target is setting up three distribution centers in Canada in preparation for its debut north of the border, according to a report in The Globe and Mail.
The 13.1% increase in same-store sales Target reported for April was toward the low end of the company’s projection of an increase in the mid-teens, and begs the question whether Walmart’s mid-month launch of a new marketing campaign contributed to the weakness.