FINANCE

Aeropostale acquires GoJane.com

BY Katherine Boccaccio

New York — Aeropostale announced Wednesday it has acquired online women’s fashion footwear and apparel retailer GoJane.com, based in Ontario, Calif.

The purchase of GoJane.com, which generated sales of about $19 million in 2011, is intended to beef up Aeropostale’s already growing e-commerce business.

“We are very excited about our strategic acquisition of GoJane, which complements our fast growing e-commerce business as we expand into new product categories and offerings,” said Thomas P. Johnson, CEO, Aeropostale. “We expect a seamless transition of this new business from a strategic, operational and cultural perspective."

Terms of the deal were not disclosed.

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STORE SPACES

Target to seek LEED certification for all 2013 Canadian stores

BY Katherine Boccaccio

Toronto — Target Corp. announced Wednesday it is pursuing Leadership in Energy & Environmental Design (LEED) certification for all Canadian stores opening in 2013.

Design plans include conserving energy and water, reducing greenhouse gas emissions and limiting waste sent to landfill, among other features.

Target is among the first organizations in Canada to be part of the U.S. Green Building Council’s LEED Volume Program, which streamlines the certification process for multiple buildings of a similar type. This will make Target a leader among Canadian mass retailers when it comes to LEED buildings.

"Striving for LEED certification at our 124 stores opening in 2013 is important as we seek to use our resources responsibly and maintain the health of our communities," said Tony Fisher, president, Target Canada.

Target sites will be renovated for a period of six to nine months prior to opening. An investment of more than $10 million will be spent remodeling each location, including LEED preparations.

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OPERATIONS

Wal-Mart launches food subscription service called Goodies

BY Katherine Boccaccio

Bentonville, Ark. — Wal-Mart Stores Inc. announced Wednesday it will officially launch its previously announced food-by-mail subscription service, called Goodies, which allows customers to trial sample-sized foods for a monthly fee.

For $7 per month, participants get a box of five to eight hand-picked, sample-size food items, ranging from organic to ethnic products that are not currently carried on Wal-Mart’s shelves. Wal-Mart, which first announced in May that its Walmart Labs division was researching the service, began testing the program in August and has to-date 3,000 subscribers.

Users sign up for the service at goodies.com. If they like the sample-size products, they can purchase full-size versions on the Goodies Co. website. Goodies has also created a social community online where subscribers can post reviews to earn loyalty points. The points can be redeemed in the future for items in the store.

“People love to talk about new food products,” Ravi Raj, VP products at San Bruno, Calif.-based Walmart Labs, said.

Wal-Mart said it is also looking to use Goodies as a way to spot food trends in its stores. “Wal-Mart is the (world’s) largest grocer but there’s room for us to innovate,” Raj said.

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