Content about Discount stores

New York -- Fast Company magazine and Target are sponsoring a competition, the Target Retail Accelerator, that will award $75,000 to a developer who creates the best new mobile app or mobile website for the retailer.  

Fast Company will chronicle the developers' efforts on the website of its new technology vertical Co.Labs.

Minneapolis -- Target announced plans to open a 140,000-sq.-ft. store in Pomona, Calif., in October 2013.

To date, Target has announced plans to open 16 Target stores in 2013.

Mississauga, Ontario -- Walmart Canada said Tuesday it will complete 30 real estate projects by the end of October, including two supercenter conversions and 28 new stores totaling 2.4 million sq. ft. of retail space.

The new stores were former Zellers locations; 10 will be converted to supercenters and 18 will be Walmart Canada discount stores.

“This is an exciting month for Walmart Canada,” said Jim Thompson, COO, Walmart Canada.

Toronto -- Canadian retailer Hudson's Bay Co. said Thursday it will shutter most of the remaining 64 Zellers stores that aren’t being converted to Target locations.

The Zellers parent sold the majority of the leases to Target Corp. last year. Many of the remaining 64 stores are expected to close by March 2013. Those that aren’t closed could potentially open under another retail banner, said Hudson’s Bay.
 

Minneapolis -- Target Corp. announced Thursday the location of its first 12 stores in Quebec. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.

Target said it intends to announce additional Quebec store locations in the coming months.

Target plans to open stores in the following locations in fall 2013:

New York -- Target Corp. will complete remodels at more than 100 general merchandise Target stores by March 25. The locations will be the first of three cycles of remodels for Target this year. In total, the chain expects to remodel 230 general merchandise Target stores to incorporate the expanded fresh food layout in 2012.

Minneapolis -- Target Corp. reported Thursday that profit for the quarter ended Jan. 28 slid 5.2% to $981 million amid heavy holiday promotional activity. But the chain is still forecasting a full-year profit outlook that beats analysts’ expectations.

Revenue for the fourth quarter increased 3.3% to $20.94 billion, missing Wall Street’s expected $21.23 billion in revenue. Same-store sales rose 2.2%, below Target expectations.

Minneapolis — Just a few weeks after unveiling the locations of its first 24 stores in Canada, Target released an expanded list of stores that will debut in 2013.

The stores listed included two in Alberta, two in British Columbia, 29 in Ontario and one in Saskatchewan. Additional details can be viewed here.

New York City -- Sears Holdings Corp. has identified 79 of the 100 to 120 Sears and Kmart stores it said last week it would close, with the preliminary list split almost evenly between the two chains.

Florida will be hit the hardest, with 11 stores to be shuttered, the Associated Press reported. Ohio, Michigan and Georgia are not far behind with six store closures planned in their states. Tennessee, North Carolina and Minnesota are set to lose four stores each.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its loss widened in the third quarter on softness in its Canada division and on weaker consumer electronics sales.

The operator of Sears and Kmart recorded a loss of $421 million in the quarter ended Oct. 29, compared with a loss of $218 million a year earlier.

Revenue slipped 1% to $9.57 billion from $9.68 billion, missing the $9.63 billion expected by Wall Street, and marking the fourth straight quarter of revenue declines.

Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday that its losses for the second quarter widened more than expected to $146 million, compared with a loss of $39 million in the year-ago period.

The operator of Sears and Kmart stores cited aggressive merchandise markdowns as one reason for the poor performance. This is the second consecutive quarterly loss of the company, and its fourth in the last five quarters.

In March, Canadian discounter tb!s the bargain shop promoted U.S. retailing veteran Beryl “Jack” Buley to president and CEO. Buley was recruited by the chain in 2010 as executive VP and chief merchandising officer.