Minneapolis — Target Corporation has named Maurice Cooper senior vice president of marketing. He will oversee Target’s marketing, creating plans that are guest-centric, culturally relevant and inclusive to fuel consumer affinity for Target’s brand and grow its business. He will lead the strategy and execution of brand, category and promotions marketing across paid, owned and shared media, while also overseeing key campaigns such as Holiday. Cooper joins the company Sept. 14 and will report to Rick Gomez, Target’s executive vice president and chief marketing, digital and strategy officer. “Maurice has …
retailers
Bed Bath & Beyond Hires Industry Expert to Lead Store Optimization & Real Estate Strategy
by Katie Lee
Union, N.J. — Bed Bath & Beyond Inc. has appointed Wade E. Haddad as senior vice president (SVP), real estate and construction, effective September 2. He joins with over 25 years of real estate experience and will lead the company’s recently announced store optimization strategy, a key part of its previously disclosed comprehensive restructuring plan. In this new role Haddad will be a central part of the team overseeing the comprehensive modernization of the company’s operations, unlocking value from the property portfolio while establishing the optimal network to support new omnichannel …
San Francisco — Driven by a 95% surge in online sales, San Francisco-based Gap Inc. reported a 13% increase in its comparable sales for the fiscal second quarter, which ended Aug. 1. Gap’s decision to make face masks early on in the COVID-19 pandemic paid off, bringing in $130 million in sales, according to the company. Gap has produced face masks for individuals as well as the city of New York, the state of California and Kaiser Permanente. Net sales were down 18% year over year, reflecting a 48% decline …
Columbus, Ohio — Big Lots Inc. has reported net sales of $1.6 billion in its fiscal second quarter, which ended Aug. 1. This figure is 31.3% higher than the second quarter of 2019, which totaled $1.2 billion. Bruce Thorn, president and CEO of the Columbus-based retailer, says the “record-breaking results” were driven by both in-store and online activity. Big Lots also reported net income of $452 million, which includes $341.9 million in earnings due to the sale-leasebacks of several distribution centers. The company’s stock price closed at $55.70 per share …
Pittsburgh — Dick’s Sporting Goods reported a record level of quarterly earnings for its fiscal second quarter, which ended Aug. 1. The company reported $276.8 million in consolidated net income and boosted its earnings per share by 155% relative to the second quarter of 2019. The Pittsburgh-based retailer cited booming e-commerce sales, which rose by 194% year over year, as a key driver in the company’s growth. In addition, Dick’s noted that through the first 3 weeks of the third quarter, same-store sales have already increased by 11% compared to …
Los Angeles — Foot Locker has opened its first West Coast community-based power store in Compton, Calif. The new 12,800-square-foot store — which opened on Aug. 26 — offers an elevated retail experience, including full-family shopping with exclusive product, custom store artwork by local artists, a curbside pickup window and an activation space that will host ongoing community events for the sneaker-obsessed. “As part of our commitment to bring the best localized expression of Foot Locker to consumers, we are excited to expand our power store model to the West Coast …
Arlington, Va. — Discount grocer Lidl US plans to open 50 new stores in nine states on the East Coast by the end of 2021. Arlington, Va.-based Lidl US will invest $500 million and hire 2,000 employees as part of the expansion. The footprints of the new stores will include six in Georgia, one in South Carolina, five in North Carolina, seven in Virginia, 10 in Maryland, six in New York, 10 in New Jersey, one in Delaware and four in Pennsylvania. Germany-based Lidl currently operates 11,000 grocery stores in …
Tiffany & Co. Unveils Plans for Redevelopment of Upper Floors of Flagship Store in Manhattan
by Katie Lee
New York City — Luxury jeweler Tiffany & Co. has unveiled plans for the redevelopment of the upper floors of its flagship store at 727 5th Ave. in Manhattan. The top three floors of the 10-story building will be converted from office space into a new exhibition and event space surrounded by a curtain of glass complementing the limestone façade below. That space was originally completed in 1980, and the building itself was originally constructed in 1940. Tiffany has partnered with The Office of Metropolitan Architecture on the project, which …
Minneapolis — Target reported a 24.3% increase in total digital and in-store sales for the second quarter compared with the same period a year ago, the highest quarterly growth in the Minneapolis-based discount retailer’s history. Same-store sales grew by 10.9% during the quarter, while digital sales experienced a whopping 195% growth year over year. CNBC reports that during a call with reporters, Target CEO Brian Cornell stated that the volume of sales fulfilled by the company’s curbside pickup program grew by more than 70%, and that the company’s digital customer …
Manhattan Beach, Calif. — Skechers is donating 1 million masks to essential workers and communities in need. Skechers is partnering with the United Way of Greater Los Angeles and more charities across the country to deliver the masks directly to those who will most benefit. The 1 million masks, which are non-medical, triple-layer surgical style, will be donated to non-profit organizations that typically do not receive PPE from government institutions, with a focus on economic hardship. This includes community and public education centers, health and rehab outreach facilities, plus homeless …