TARGET

Target is branching out.


Buoyed by surging profits and customer satisfaction scores, the Minneapolis-based giant is reaching into Canada, preparing a new small-store format for urban areas and going after a bigger share of the nation’s grocery dollar. Target also is spending billions on store renovations, aggressively leveraging a new loyalty card program and growing its commitment to health at its pharmacies and in-store clinics.


Call it “the attack of the coupon-crazed shelf sweepers.” It’s the most aggressive form of bargain hunting by consumers willing to spend hours searching out coupon deals, to stock up with enough product to last their families for a year and to turn their homes into veritable warehouses.


MINNEAPOLIS — Target said that its in-store recycling stations collected and recycled more than 170 million shopping bags, weighing more than 1,800 tons, between April and December 2010.

The retailer also said that its in-store recycling stations, which were launched to make it easier for guests to recycle common household items, also collected and recycled more than 700 tons of bottles and cans, as well as nearly 2 million units of such small electronics as MP3 players and cell phones during the nine-month period.

NEW YORK — Target expects sales from its upcoming Canadian stores to total more than $6 billion by 2017, Dow Jones reported.

Speaking to Wall Street analysts, CFO Douglas Scovanner said Tuesday that Target expects to have more than 200 stores in Canada within the next five to 10 years, with the stores generating about $6 billion Canadian ($6.27 billion in U.S. dollars based on Tuesday’s exchange rate).

Target’s initial group of stores will open through the chain’s purchase in January of up to 220 leases held by Hudson's Bay Co.'s Zellers stores.

NEW YORK — Target once again has taken the top spot as the retailer with the strongest consumer brand equity, according to the latest Harris poll.

This marked the second consecutive year Target has led the way in the "value retail" category, with an increasing gap noted between the company and runner-up Walmart, according to the "2011 Harris Poll EquiTrend" study. Target led the way with a ranking of 74.1, while Walmart had a ranking of 70.8. The industry average in the value retail category was 67.3.

MINNEAPOLIS — Target's March sales dropped 4.5% to $5.95 billion, compared with the year-ago period.

The retailer also disclosed that comparable-store sales for the five weeks dropped 5.5%, which was in line with expectations, as they reflected the later timing of the Easter holiday, according to the company's chairman, president and CEO, Gregg Steinhafel.

"Our stores are well-prepared for the upcoming Easter season, and we continue to expect a mid-teens increase in Target's April comparable-store sales," Steinhafel noted.

NEW YORK — Retailers rank among the highest for their customer service, according to a new report by the Temkin Group.

The consulting and research firm analyzed responses from 6,000 consumers, found that Amazon.com ranked No. 1 for providing an "excellent" customer experience, coming in with a ranking of 81.3%. A business qualifies for an "excellent" rating when their score is 80% or higher, Temkin said.

NEW YORK — Some of the nation's most popular retailers earned a spot on Interbrand's annual ranking of the 50 most valuable U.S. retail brands.

Walmart topped the list, with Target coming in the No. 2 spot, while CVS/pharmacy, Walgreens and Sam's Club respectively earned the fifth, sixth and seventh spots.

Other retailers on the list included Publix, Dollar General, Costco, Whole Foods and Family Dollar.