FINANCE

Target shareholders re-elect all board members, approve exec pay plan

BY Marianne Wilson

New York — Target Corp. announced at its annual meeting on Wednesday that the company’s shareholders re-elected its entire 10-member board of directors. Shareholders also approved the company’s executive compensation plan.

In May, proxy firm Institutional Shareholder Services recommended the removal of seven board members, accusing them of failing to protect Target from its massive data breach.

Shareholders also rejected all three outside resolutions that the board disliked, including a plan to separate the job of Target’s CEO and the board chairmanship.
Before the meeting, Target increased its quarterly dividend by 21%, raising the payment to 52 cents a share.

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REAL ESTATE

Simon and elevate Digital to launch digital concierge network in retail centers

BY CSA STAFF

INDIANAPOLIS — Simon, a leading global retail real estate company, has announced a collaboration with elevate Digital, a developer of interactive digital technology, to install "digital concierge" solutions in a number of Simon’s U.S. retail properties.

The interactive displays will provide Simon mall visitors with a virtual way-finding experience to help them navigate the mall, find deals, events, promotions and also take relevant information with them on a mobile device.

In addition, shoppers can engage with the digital concierge app to sign up for news and updates, take and share fun photos, interact with advertising, download mobile apps, RSVP for events and much more.

"Enhancing the shopping experience of our visitors through accessible, easy to use technology is a top priority for Simon," said Mikael Thygesen, chief marketing officer of Simon. "Offering a digital concierge through elevate Digital’s interactive display solution increases the level of service to our customers and seamlessly integrates on-mall and personal technology into their journey of discovery at our centers."

The elevate digital concierge is now live at Simon’s Arundel Mills in Hanover, Maryland, and Simon is planning to implement this technology in 30 U.S. markets by the end of 2014.

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REAL ESTATE

Warby Parker to open 1950s classroom-styled store in Dallas

BY Marianne Wilson

New York — Online eyewear retailer is opening its sixth retail location, a 1,050-sq.-ft. store in Dallas. It will open on June 18.

The store will have a 1950s classroom look, with books, chalkboards, globes and apples, dallasnews.com reported. A sculpture of a pencil will stick out of the roof, and an old-fashioned yellow school bus will be parked outside. (The same bus visited several U.S. cities last year on the Warby Parker’s “Class Trip” promotion.) The bus has been fitted with leather sofas and oak shelves to house Warby Parker’s nonprescription sunglass selection.

“Shoppers’ expectations are so much higher now because they have so many choices, partly because of e-commerce,” said Warby Parker co-founder Neil Blumenthal, in the report. “So to stand out, the best retailers will create the best experiences because shopping is also a form of entertainment.”

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