Target to open holiday pop-up shops
Minneapolis Target is opening three Target To-Go temporary stores in New York City, San Francisco and Washington, D.C.
The To-Go shops will feature 50 items, including toys, gadgets, home decor, beauty and fashion. Customers order the items by number, which come wrapped and ready for gift giving.
Target To-Go will be open to the public from Dec. 11 to Dec. 13, from 10 a.m. to 8 p.m. daily.
Walmart promotes gaming deals
BENTONVILLE, Ark. Walmart announced that through Dec. 24, it will offer 15% to 20% savings on 25 top video game titles, including games for kids, families and extreme gamers, in stores. In addition, starting Saturday, Dec. 5, the retailer is giving away a $50 gift card with the purchase of a $199 Wii console in stores, through Dec. 12 while supplies last.
“We have promised shoppers that through the holidays, even after last week, we would continue to offer real savings on items we know are on shoppers’ minds, and this offer is for anyone buying games as gifts or even for themselves,” said Greg Hall, vice president media and services, Walmart Entertainment. “Regardless of whether you have a PS3, Xbox or Wii, these savings will help anyone to build a gaming library with great new titles.”
Jo-Ann sees increase in 3Q income
HUDSON, Ohio Jo-Ann Stores announced that net income for the third quarter was $24.1 million, or 90 cents per diluted share, versus net income of $10.2 million, or 40 cents per diluted share for the third quarter last year.
Large-format store net sales for the quarter increased 8.7% to $272 million compared with the same period last year. Same-store sales for large-format stores increased 2.3% compared with a decrease of 3.8% in the same period last year. Small-format store net sales for the quarter increased 3% to $228.5 million compared with the same period last year. Same-store sales for small-format stores increased 6.7% compared with an increase of 1.2% for the same period last year. Internet sales through Joann.com for the quarter increased 6.2% to $8.6 million compared to the same period last year.
Based upon the company’s year-to-date results and management’s operating assumptions for the remainder of the year, the company expects a same-store sales increase of approximately 2.3% to 2.7% for the year and earnings per diluted share in the range of $1.95 to $2.05 for the year.