TARGET

NEW YORK — 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.

MINNEAPOLIS — 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.

The retailer reported that net sales for the four-week period were $4.8 billion, an increase of 3.8% from $4.6 billion for the four weeks ended May 29, 2010.

MINNEAPOLIS — Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces.

The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.

MINNEAPOLIS — Target announced its donation of funds and product to support tornado relief efforts.

OBERLIN, Ohio — Walmart and Target are the top go-to shopping destinations for college students, according to a new study.

NEW YORK — 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.

The retailer said it will be able to “clarify” within weeks the number and locations of the first 100 to 150 stores it will open in Canada.

“We expect to close on higher value lease transactions sooner than expected,” Target CFO Doug Scovanner told analysts on a conference call Wednesday.

NEW YORK — 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.

MINNEAPOLIS — First-quarter sales at Target increased 2.8% to $15.6 billion, and same-store sales increased 2%, the company reported.

The modest sales growth translated into earnings per share that advance 9.8% to 99 cents, 4 cents better than analysts’ consensus estimate of 95 cents, and net income that increased 2.7% to $689 million. Share repurchase activity contributed to the earnings-per-share growth as Target spent $819 million during the first quarter to buy back 15.4 million shares at an average price of $53.32.