Nash Finch to acquire No Frills Supermarkets
New York — Nash Finch has agreed to acquire the 18-store No Frills Supermarkets, which is based in Omaha, Neb.
The terms of the transaction, which is expected to be completed by the end of third quarter, were not immediately available.
In April, Nash Finch completed the acquisition of the 12-store Bag ’N Save supermarket chain.
‘Fashion Star’ launches exclusive line at Macy’s
NEW YORK — Kara Laricks has been named the first winner of NBC’s reality competition show, "Fashion Star," and as part of her prize, the designer will launch an exclusive collection at Macy’s that is available at 110 Macy’s stores across the country and on Macys.com for a limited time.
"We are extremely excited to have NBC’s "Fashion Star" winner Kara Laricks collection sold exclusively for Macy’s," said Martine Reardon, chief marketing officer for Macy’s. "This show has been an amazing
platform for aspiring designers, catapulting their careers into the spotlight and giving them real experience in balancing the demands of fashion and retail. Kara has demonstrated great design talent over the course of the show, and Macy s is the perfect place to launch a debut collection accessible to customers across America. We congratulate Kara on her success on "Fashion Star" and expect that customers will be eager
to get their hands on a piece of this special collection.
The Kara Laricks collection will be priced on average from $29 to $99, and will feature soft fabrics and graphic prints in dresses, pants and tops. The line is grounded in black, red and cream with touches of gold and bronze infused throughout. Standout pieces include dresses with subtle high-low hems, a cropped three-quarter sleeve blazer, jumpsuit, pleated pants and blouses.
Before pursuing a career in fashion, Laricks was a fourth grade teacher.
Target Q1 beats estimates, raises forecast
Minneapolis — Target Corp. reported a better-than-expected 1.2% increase in first-quarter profit as warm weather and an early Easter helped drive sales. The chain also raised its earnings forecast for the full year.
Target’s net earnings for the quarter ended April 28 were $697 million, compared with $689 million in the year-ago period.
“We’re very pleased with our first-quarter earnings, which benefited from better-than-expected sales,” Gregg Steinhafel, Target’s CEO, said in a statement.
Sales increased 6.1% in the first quarter to $16.5 billion in 2012, from $15.6 billion in 2011. Same-store sales rose 5.3%.
“While our outlook for the remainder of the 2012 reflects continued economic uncertainty, we are confident in our strategy,” Steinhafel said.