A ‘Fortune’-ate move
Target climbed two spots on the Fortune 500 list to claim the 31st position, finishing well above Sears Holdings, which fell to the 45th spot from a previous ranking of 38, and Macy’s, whose ranking plummeted to 91 from 76 in the prior year.
Retailers ranked above Target include Costco, which improved three spots to the 29th position, Kroger, which retained the 26th spot from last year, and Home Depot, which dropped down to the 22nd position from the 17th spot the year before.
Of course, Target cannot overlook the company at the very top of the list –Walmart. The company regained the number one spot over Exxon Mobil, indicating a definite shift in consumer spending and the ability to capitalize on that change. Seeing Walmart dominate the Fortune 500 will likely encourage Target to examine its own strategies for success.
KitchenAid launches downdraft cooktops
CHICAGO KitchenAid announced the launch of new electric and gas downdraft cooktops available in a 30-inch gas option as well as 30- and 36-inch electric models.
“Our new downdraft cooktops give consumers another choice in the cooktop category that enables them to create a kitchen that suits their personal cooking styles and design needs,” says Debbie O’Connor, senior manager of brand experience for KitchenAid. “We believe time in the kitchen should be enjoyable and these cooktops provide flexible placement options that can help create a welcoming, comfortable space.”
Suggested retail prices on the 30-inch electric models range from $1249 to $1349, with 36-inch models ranging from $1399 to $1499. Suggested retail prices on the gas downdraft model options, available in stainless steel and black, will range from $1349 to $1449.
Blockbuster reschedules annual meeting
DALLAS Blockbuster has rescheduled it annual meeting to June 24 in the hopes of resolving some of its finance issues, the company announced.
“As a result of the continued progress on our recapitalization initiatives, we have rescheduled the annual stockholders’ meeting,” stated Tom Casey, EVP and CFO of Blockbuster. “We believe the additional time will provide us with the greatest opportunity to successfully complete one or more of our ongoing recapitalization initiatives prior to the annual meeting, possibly resolving our NYSE non-compliance and avoiding the need for a reverse stock split.”