FINANCE

Chase Card Services in agreement with Kohl’s

BY CSA STAFF

Wilmington, Del. — Chase Card Services, a division of JPMorgan Chase & Co., and Kohl’s Department Stores announced an exclusive marketing partnership in which Chase card members enrolled in Chase’s Ultimate Rewards program will gain access to a wide range of increased rewards benefits for shopping at Kohl’s.

Beginning in 2011, Kohl’s and Chase will launch several new initiatives designed to reward Chase card members for shopping at Kohl’s, including enhanced gift card promotions and expanded bonus point programs for qualifying Kohl’s purchases.

“We look forward to partnering with Chase to deliver new and exciting rewards to Kohl’s customers and Chase card members,” said Julie Gardner, Kohl’s executive VP and chief marketing officer. “Coupled with our world-class national, private and exclusive brands and industry-leading policies, this program is another way Kohl’s differentiates itself in the marketplace and continues to provide shoppers with great value.”

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OPERATIONS

Finish Line announces exec appointments

BY CSA STAFF

Indianapolis — Finish Line announced that Terry Ledbetter has been appointed CIO, effective April 14. Most recently, he served as VP information technology, Dick’s Sporting Goods.

In other appointments, the chain said that Donald J. Gualdoni has been appointed VP business development and corporate strategy, effective April 14.

Gualdoni was previously with LexisNexis, most recently as senior director, strategy and planning, a post he held since 2009. Prior to LexisNexis, Gualdoni was director of business development and innovation for Circuit City.

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FINANCE

Report: Target puts Canadian sales at $6 billion by 2017

BY CSA STAFF

New York City — Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, the company’s CFO said Tuesday, Dow Jones reported.

Speaking to Wall Street analysts, CFO Douglas Scovanner said Target expects to have more than 200 stores in Canada within the next five to 10 years, with the stores generating about $6 billion Canadian ($6.27 billion in U.S. dollars based on Tuesday’s exchange rate).

Target’s initial group of stores will open through the chain’s purchase in January of up to 220 leases held by Hudson’s Bay Co.’s Zellers stores.

Scovanner also said the chain expects to double net income over six years with help from its branded 5% RED rewards credit card, and the addition of the Canadian stores. The card gives shoppers a 5% discount on every store purchase.

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