OPERATIONS

Target names marketing head

BY Marianne Wilson

New York — Target Corp. on Monday named Jeffrey Jones as executive VP and chief marketing officer, effective immediately. He succeeds Michael Francis who left the company in October to join J.C. Penney.

Jones, 44, most recently served as partner and president of McKinney, a Durham, North Carolina-based advertising agency. Prior to that, he held several leadership positions at Gap, including serving as executive VP and chief marketing officer where he was responsible for leading marketing strategy, retail store design, store experience and all consumer communication.

“Not only does Jeff have a proven track record of success in both the development and execution of countless marketing campaigns but Jeff is also a passionate, dedicated leader who understands the importance of working as a team,” said Gregg Steinhafel, chairman, president and CEO of Target. “Marketing is a key differentiator for Target and I am confident that under Jeff’s stewardship, we will continue to build on our long history of surprising and delighting our guests.”

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News

Former ad man to head marketing at Target

BY CSA STAFF

MINNEAPOLIS — Target has brought in someone with both advertising and retail experience to oversee its marketing efforts. The company announced that Jeffrey Jones, II has been named as the company’s EVP and chief marketing officer, effective immediately.

"We are very excited to welcome Jeff to the Target team. Not only does Jeff have a proven track record of success in both the development and execution of countless marketing campaigns but Jeff is also a passionate, dedicated leader who understands the importance of working as a team,” said Gregg Steinhafel, chairman, president and CEO of Target. “Marketing is a key differentiator for Target and I am confident that under Jeff’s stewardship, we will continue to build on our long history of surprising and delighting our guests.”

Most recently, Jones served as partner and president of McKinney, a Durham, NC based advertising agency. Under Jones’ leadership, the agency achieved record growth and profitability. Prior to his work at McKinney, Jones held several leadership positions at Gap Inc. including serving as EVP and chief marketing officer wherehe was responsible for leading marketing strategy, retail store design, store experience and all consumer communication. He also managed Gap Inc.’s gift card subsidiary, Direct Consumer Services LLC serving as president of the division. In addition, Jones previously held leadership positions at marchFIRST, Inc., Coca-Cola Company, Leo Burnett Worldwide, and served as president and CEO of LB Works, a Chicago-based advertising agency associated with Leo Burnett.

"Target is a brand I’ve studied and admired as a marketer for more than a decade, and one my family shops almost daily. I am ecstatic to lead the marketing team and help shape the future of one of the world’s most loved and iconic brands. There has never been a more dynamic time in retailing and the possibilities for where the guest experience, technology and Target’s positioning converge are boundless," said Jones.

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FINANCE

Consumer spending rose 0.8% in February

BY Staff Writer

New York — Consumer spending rose 0.8% in February, the Commerce Department said Friday. It was the biggest increase since July. However, the increase came as Americans’ income barely grew, and the saving rate fell to its lowest point in more than two years.

Some of the higher spending last month reflected rising gas prices. But even after excluding inflation, which was due mainly to gas prices, spending rose a solid 0.5%.

The report led economists to upwardly revise their economic growth estimates for the January-March quarter. Paul Dales, an economist at Capital Economics, now expects annual growth for the first quarter to be around 2.5%, compared with earlier estimates of about 2%, the Associated Press reported.

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C.Rogers says:
Apr-02-2012 07:18 am

optimist
Yes, I agree that while households may be spending less, they are starting to show more interest in buying houses, taking loans, traveling, etc. That is actually the highest level of consumer spending increase for the last seven months. In addition, the months’ supply of houses on the market dropped to a five-and-a-half-year low. However, I think that more progress will depend on the health of the people’s finances. http://cashadvancesus.com/

C.Rogers says:
Apr-02-2012 07:18 am

Yes, I agree that while households may be spending less, they are starting to show more interest in buying houses, taking loans, traveling, etc. That is actually the highest level of consumer spending increase for the last seven months. In addition, the months’ supply of houses on the market dropped to a five-and-a-half-year low. However, I think that more progress will depend on the health of the people’s finances. http://cashadvancesus.com/

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