OPERATIONS

Target awareness strong well before Canadian entry

BY Gail Hoffer

Cambridge, Mass. — Target should be feeling confident about its upcoming entry into Canada, as a recent survey from Kantar Retail and TNS Canada revealed that 75% of Canadians are aware of the retailer.

Furthermore, 43% of Canadian consumers said that they were likely to shop at Target Canada for grocery or health and beauty aids and 50% were likely to shop at Target Canada for general merchandise or apparel.

With so much interest in Target’s entry, it is not suprising that several Canadian retailers will likely be impacted by the retailer’s arrival. For example, Kantar Retail found that roughly seven-in-10 Superstore/Joe Fresh shoppers were interested in shopping at Target Canada for general merchandise and apparel. Comparatively, 63% of Costco Canada’s shopper base, 59% of Walmart Canada’s base, and 56% of Canadian Tire’s/Mark’s base stated interest in shopping at Target Canada for general merchandise or apparel.

“Target Canada has broad appeal,” notes Robin Sherk, senior analyst at Kantar Retail and primary author of the study. “Given that the retailer only recently began local marketing efforts, its awareness – and likely interest in its offer – will further expand,” she adds. “For suppliers working with Target, this is encouraging and reinforces expectations that shopper visitation will be strong when it opens.”

To receive a copy of the Kantar Retail study or to speak with a Kantar Retail analyst, contact Katherine Clarke at [email protected].

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REAL ESTATE

Kroger poised for growth in 2013

BY Staff Writer

Cincinnati — With a focus on increasing square footage and building its presence in both new and existing markets, Kroger is poised for growth in 2013.

Speaking at its investor conference in New York, Kroger unveiled its long-term strategy for enhanced growth, which included raising its long term, fully-diluted earnings per share growth target from 6% to 8% to 8% to 11%, plus a current dividend of 2.5%. To support its growth strategy, Kroger expects to increase capital spending by an incremental $200 million annually and increase return on invested capital.

Also today, Kroger’s board of directors approved a $500 million share repurchase program, replacing the existing authorization that had approximately $340 million remaining.

"Our proven strategy and market position provide a tremendous platform to accelerate growth and increase value creation for Kroger shareholders," said David Dillon, Kroger’s chairman and chief executive officer. "We are confident that Kroger’s unmatched knowledge of the customer and disciplined approach to deploying capital will drive growth at attractive levels of return. We will continue to use our strong free cash flow to deliver shareholder value through actions such as our recent 30% dividend increase and the continuation of our substantial share repurchase program."

In addition to selectively expanding its store base and the markets it serves, Kroger will also pursue other initiatives to drive growth, including:

  • New customer channels – Enhancing the company’s digital and mobile platforms by leveraging its world-class customer insights program.
  • New store formats – Testing new store formats to provide greater access and shopping flexibility to customers.
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News

Celliant brings textile technology to Dick’s

BY CSA STAFF

LOS ANGELES — Celliant, a maker of textile technology for apparel, has partnered with Dick’s Sporting Goods to launch a new line of Koppen men’s and women’s baselayers, which features Celliant technology and is available exclusively at Dick’s Sporting Goods.

Comprised of a unique blend of optically responsive materials embedded into the fibers’ cores, Celliant technology harnesses the body’s energy and re-emits it into the muscle tissue in the form of usable energy and far infrared light. Effects range from increased oxygen levels in the tissue, to balanced temperature, quicker recovery and healing, and heightened strength and athletic performance.

"We’re thrilled to work with Dick’s Sporting Goods on the launch of Koppen baselayers," says Seth Casden, CEO of Celliant. "This venture allows us to bring our technology to a new demographic of consumers, through a brand they already trust and rely on for quality and comfort."

Baselayer tops and bottoms retail for $50 each and are available for purchase at Dick’s Sporting Goods stores nationwide and online at www.dicksportinggoods.com.

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