REAL ESTATE

Sav-A-Lot to open 13 stores in February/March

BY Marianne Wilson

St. Louis — Save-A-Lot, a wholly owned subsidiary of Supervalu, will open 13 stores in February and March.

The grocer will open three locations in New York bringing the total number of Save-A-Lot stores in the state to 52. In Ohio, it will open three stores, for a total of 128 locations state-wide. The chain will open four stores in Pennsylvania, for a total of 76, and three in Tennessee, for a total of 108.

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News

Buzz-building activities pop-up in Toronto

BY CSA STAFF

Today promises to be a special one for 25 Toronto area residents — assuming their definition of special involves waiting in line for the opportunity to purchase up to three Jason Wu products at a Target pop-up store in Toronto and have their photo taken with the designer and Target’s mascot dog Bullseye.

Wu’s line of goods sold out quickly when it hit U.S. Target stores earlier this month and that’s sure to be the case in Toronto as the notion of limited quantities and the air of exclusivity tend to ignite the urgency gene in shoppers.

“We’ve been looking for an opportunity to bring our new Canadian guests a taste of what they can expect when we open our first stores in 2013,” said John Morioka, SVP merchandising with Target Canada. “The buzz surrounding Jason’s line for Target has been incredible. And, given his ties to Canada, we thought this collection would serve as a great introduction to Target’s take on affordable design.”

The company knows what it is doing with pop-up stores, having executed 20 such programs over the past decade, and said it had been planning the Toronto event for awhile and even ordered different merchandise from what was available in the United States However, today’s event is more about building buzz for the Target brand than generating sales. And offering a limited assortment of merchandise in a pop-up store in the heart of Canada’s largest city a year before the company’s first stores are even due to open is a great way to accomplish that objective and reminiscent of a program many years ago when Target opened a pop up store on a boat docked on Manhattan’s waterfront. With such events, the value generated comes in the form of earned media and furtherance of Target’s image as the trend right company as opposed to any profits the company generates on the sale of goods.

Today’s event with Wu won’t be the last pop up stores Target executes in Canada before its first wave of stores open in March 2013.

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FINANCE

NRF expresses support for Obama’s business tax reform

BY Staff Writer

Washington, D.C. — The National Retail Federation expressed its support for President Obama’s proposal for business tax reform, and pledged to work with the White House and Congress to win passage of legislation that would significantly lower rates in order to help retailers and other businesses create jobs.

“Tax reform is a monumental undertaking that can only be achieved with the backing of the President,” said NRF president and CEO Matthew Shay. “President Obama has put the power of his office behind this goal and made it clear we can no longer tolerate having American businesses saddled with the second-highest tax rates in the world. Lower taxes will make U.S. businesses more competitive at home and abroad, and will help create the jobs out-of-work Americans are looking to fill.”

The White House announced Wednesday that Obama will seek to reduce the current 35% top corporate tax rate to 28% in return for “broadening the base” by eliminating dozens of current tax credits and deductions. He also pledged to provide adequate transition periods to allow businesses to adjust to the new tax rules. But he also called for special benefits for manufacturing that would reduce that industry’s effective rate to 25%.

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