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Minneapolis — Target reported higher sales in its fiscal fourth quarter and fiscal year, slightly lower net earnings in the quarter, and an uptick in annual earnings for the period ended Feb. 2.
Fourth-quarter net earnings were $961 million, down 2 percent from the prior year’s final quarter, but full-year net earnings were $2.99 billion, up 2.4 percent from the previous year.
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Minneapolis — RadioShack will no longer operate Target’s 1,500 mobile departments, effective this April.
The three-year-old outsourcing arrangement had proved a profit drain on RadioShack, which was excluded from sharing in prepaid and accessories sales, the two most lucrative pieces of the mobile business. It lost $14 million on the Target business in the third quarter of 2012, and attempts at renegotiating the contract failed.
Minneapolis – Target has made its online holiday price-match policy permanent.
The program, which specifically targets Amazon.com, BestBuy.com, Walmart.com and Toysrus.com, will provide price adjustments to in-store customers on identical items priced lower on those sites within one week of purchase.
The policy also extends to local competitors’ sales circulars and Target’s own e-commerce site.
Chicago – Premium gaming accessories supplier SteelSeries is expanding its North American retail footprint in time for the holiday shopping season.
Consumers can now find select SteelSeries gaming audio, mice, keyboards, controllers and mousepads at h.h. gregg, EB Games Canada, Staples Canada, London Drug, Target.com, Costco.com, Hastings, TigerDirect and The Source.
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