Target shares plunge on earnings shortfall and weak outlook on sales by Krystina Gustafson at CNBC. "Same-store sales: A decline of 1.5 percent versus the 1.4 percent decline expected by FactSet...The company also plans to lower prices. "We will invest in lower gross margins to ensure we are clearly and competitively priced every day," Cornell said." Read more | Press release   Hundreds allege sex harassment, discrimination at Kay and Jared jewelry company at The Washington Post via Denver Post. "Declarations from roughly 250 women and men who worked at Sterling, filed as part of a private class-action arbitration case, [...]

  Wal-Mart launches new front in U.S. price war, targets Aldi in grocery aisle by Nandita Bose at Reuters. "Wal-Mart Stores Inc is running a new price-comparison test in at least 1,200 U.S. stores and squeezing packaged goods suppliers in a bid to close a pricing gap with German-based discount grocery chain Aldi and other U.S. rivals like Kroger Co , according to four sources familiar with the moves. Wal-Mart launched the price test across 11 Midwest and Southeastern states such as Iowa, Illinois and Florida..." Read more   A Trump voter’s message to retailers: ‘Keep your mouths shut about [...]

  JCPenney shuttering up to 140 stores as sales weaken by Krystina Gustafson at CNBC. "Along with the stores Penney's plans to close, it will shutter two distribution centers. The combined closures will help the retailer invest in its better stores, and "raise the overall brand standard of the company," CEO Marvin Ellison said." Read more   ...JCPenney Q4 comp sales -0.7% Press release   Supervalu shakeup: Cub Foods president leaving by Dan DeBaun at Minneapolis/St.Paul Business Journal. "Eric Hymas has served as president of Cub since January 2016...Supervalu Vice President of Marketing and Consumer Insights, Chad Ferguson, will take [...]

  Yeti Unveils Store #1 in Austin by Will Anderson at Austin Business Journal. "The 8,000-square-foot space is packed with scenes from the outdoors, such as a fishing skiff and taxidermied bear, plus plenty of Austin mementos that pay homage to the hometown of founders Roy Seiders and Ryan Seiders." 11 pics/Read more   How pickled eggs and a trip to Sam's Club helped Dale Earnhardt Jr. return to racing by Dan Wetzel at Yahoo. "When six weeks after a wreck you can’t manage to buy brisket and pickled bar props, when you can’t deal with Sam’s Club, how could [...]

  TJX's Same-Store Sales Beat Estimates at Fox Business. "Comparable store sales rose 3 percent in the fourth quarter ended Jan. 28. Analysts on average had expected comparable store sales to rise 2.6 percent." Read more   Wal-Mart’s McMillon asks more of suppliers amid retail evolution by Kim Souza at The City Wire. "...there has been a 250% increase in grocery pickup and the retailer will continue to grow that service to 500 additional stores this year. The retail execs also talked about investing in the shopper experience. They also want to work with suppliers to maximize the number of [...]

  Wal-Mart's Comparable Sales Top Estimates at Fox Business. "Sales at U.S. stores open at least a year rose 1.8 percent, excluding fuel. Analysts polled by research firm Consesus Metrix had forecast a rise of 1.3 percent." Read more   ...Walmart Hurt By Dreaded Tax Refund Delays for More Than 40 Million Lower Income People at The Street. "Starting this year, the Internal Revenue Service is required to hold off issuing tax refunds until Feb. 15 for those tax filers claiming the Earned Income Tax Credit." Read more   Home Depot blows past Wall Street expectations, buoyed up by healthy [...]

  Man Charged With Trying to Blow Up Target Stores to Tank Company’s Stock by Safia Samee Ali at CNBC. "Mark Charles Barnett, 48, of Ocala, was charged with "possession of a firearm (destructive device) affecting commerce by a previously convicted felon" after he offered an unidentified person $10,000 to put at least 10 explosives — disguised as food items — on the shelves of Target stores in New York, Florida and Virginia, according to a criminal complaint filed in U.S. District Court in Ocala." Read more   Walmart tests C-store in small Texas town by Maria Halkias at Dallas [...]

  "TAR-ZHAY RIGHT?" - Retail CEOs make case to Trump against border adjustment tax by Jim Spencer & Kavita Kumar at Star Tribune. "As they came and went, Target's Brian Cornell and Best Buy's Hubert Joly were both tight-lipped about their visits to the White House and Capitol Hill...In a lighthearted aside, a video taken as the CEOs introduced themselves showed Trump pausing after Cornell introduced himself from Target. "Tar-zhay, right?" the president said with a smile." Read more   ...Bill Rhodes, CEO of AutoZone Inc., spoke briefly after the meeting with Mr. Trump but didn’t take questions by Khadeeja Safdar [...]