Target’s Jason Wu collection a sell-out
New York City — Target Corp.’s launch of its latest limited edition collection, by designer Jason Wu, went off relatively problem-free compared with its Missoni launch last fall.
The 53-piece Jason Wu collection of dresses, skirts and accessories made its debut on Sunday, and flew off the shelves, selling out in stores and online within hours. Unlike with the Missoni launch (see related story here), however, the Target website did not experience any website outages. In a surprise move, the collection went live on the Target website in the early hours of Sunday (just past midnight), with was no official announcement about when the items would be available online.
"We’re really proud with how the website performed," said Target spokesman Joshua Thomas, in the Minneapolis StarTribune.
However, shoppers expressed frustration about the scarcity of Jason Wu items, which was made worse by consumers who snatched up the goods in mass quantity. In one widely-reported account, a couple cleaned out a Miami Target of its entire collection in one fell swoop.
A reported 11,000 items were on eBay by the end of the day.
Despite the collection’s popularity, Target will not replenish its stores with additional products, except for returns.
Walmart Canada goes on offensive ahead of Target arrival
MISSISSAUGA, Ontario — Wal-Mart Stores isn’t about to let the grass grow under its feet in Canada. The discounter plans to spend about $753 million this fiscal year to expand its store presence in Canada, before rival Target Corp. begins its push in the country.
The plans call for at least 73 projects — including new store builds, store expansions, remodels, and relocations — during the fiscal year that ends Jan. 31, 2013. The program will add 4.6 million sq. ft. of retail space to Walmart Canada’s operations, and up its store count to more than 375. The company currently has 333 stores in the country.
The move will put Wal-Mart ahead of competitor Target, which has launched a Canadian debut that calls for 125 to 135 stores by early 2013.
Walmart appoints ex-Woolworths exec as new China chief
Hong Kong — Wal-Mart Stores Inc. said Tuesday it has named Greg Foran as president and CEO of Walmart China. Foran, who joined Walmart last October, is a long-time veteran of Australian retailing group Woolworths, where his areas of experience included operations, merchandising, marketing and replenishment.
Foran succeeds Ed Chan, who resigned last year after a food scandal that involved mislabeled pork and the forced temporary closures of a dozen stores in central China.
Foran currently is senior VP, Walmart International. His new role becomes effective on March 1.