Saturday January 5, 2013
From merchandising and advertising to real estate and technology, business reporters offer insight into the latest trends and people that define today’s top retailers.
Posts about Target
Target now discounting its Neiman Marcus collection 70 percent
Posted by: John Ewoldt Updated: January 2, 2013 - 12:23 PM
Target lumped its Target + Neiman Marcus collection into the Christmas ornaments, gift bags and stockings and marked it all down at 70 percent off in a clearance sale that started in stores and online Jan. 1.
A few items appear to be sold out such as the Joseph Altuzarra serving tray but some popular sellers such as the Tracy Reese dessert plates were still showing availability at Neimanmarcus.com on Tuesday morning (sorry, the plates are now showing sold out). The collection is still discounted 50 percent, not 70, at Neiman Marcus. 
Target.com is showing that nearly all of the items are sold out in stores, but many of them remained at the Nicollet Mall location. The Jason Wu red, white and black ornament set and the Oscar de la Renta pet bowls are still in abundance there.
Bargain hunters who are now interested in the collection should still be able to find most of the items if they're willing to check stock at the Neiman and Target stores and then the website. Some stores might be willing to check stock at other locations. Those who are looking for a discount even higher than 70 percent might be able to see that on or after Jan. 5. That's the date when the collection is no longer returnable, according to information printed on sales receipts.
If Target doesn't mark items down 80 or 90 percent, then "diggers" might find the remainders at the lower level of the Salvation Army location in the warehouse district at 900 N. 4th St., Mpls., 612-332-5855. Target sells its end of season closeouts to the Salvation Army, but the discounts rarely seem better than 70 percent unless the item is damaged.
Target slashes prices on its Target + Neiman Marcus collection by 50%
Posted by: John Ewoldt Updated: December 20, 2012 - 8:13 AM
Target corporation, always quick to start and end a trend, slashed prices on all 60 pieces in its Target + Neiman Marcus collection on Thursday. About 20 shoppers, nearly all of them Target corporate employees who must have gotten a memo, stood patiently waiting for the security guard to let them in when the Nicollet Mall store opened at 7 a.m. All immediately rushed to the nearby Target + Neiman Marcus collection where Tracy Reese dessert plates quickly were cleaned off the shelves. Tory Burch's lunch box, Diane von Furstenberg's yoga mat and a rag & bone flask were also selling quickly. All items were still in stock this morning at Target.com, which also has the collection discounted 50 percent.
Neiman Marcus.com did not have the collection discounted on its website as of 8 a.m. Thursday morning.
Some analysts believed that the hype was better than the sales for the 24-designer collection. Citibank retail analyst Deborah Weinswig thought Target made a mistake putting the collection at the back of the store. Still, not all stores placed the collection in the back. The Nicollet Mall store, for example, put it front and center on the skyway level.
Target said comparing the NM collection with Missoni was unfair. Although the Missoni collection was such a success that the website crashed, the NM partnership was more deeply stocked. Also, customers were restricted to buying no more than five of one item.
As for the complaint that the clothing was too expensive at about $100 an item, the $50 price point after the discount should prove more enticing.
Target plans big splash for Neiman Marcus collection
Posted by: Thomas Lee Updated: November 27, 2012 - 11:12 AMWhy are these two people in such a good mood?
Well, let's start with who they are: Target CEO Gregg Steinhafel and Neiman Marcus CEO Karen Katz. They are showing off some of the merchandise Target and Neiman co-created for the holiday season during a preview for the media last month in New York. Both Target and Neiman have high hopes this partnership will boost sales throughout the holiday season.
As I write this, Target executives are on the way to New York for the collection's debut fashion show Wednesday night. The retailers, which will also promote the merchandise in a pop up store, will officially launch the collection Saturday. We'll have a story in Sunday's Business section.
In the meantime, here is a sneak peek at the collection:
_2.jpg)
_1.jpg)
_2.jpg)
.JPG)
.JPG)
And we're off....
Posted by: Thomas Lee Updated: November 22, 2012 - 9:30 PMAnyone who has ever read this blog knows that I'm not a big fan of Black Friday (or shall we say Black Thursday night). The crowds, the noise, the sheer nakedness of American capitalism on display for the world to admire or mock.
But even I got a little rush waiting for the doors open at the Target store in Bloomington. About 50 people waited outside before the doors opened at 9 p.m., hardly a mob. In fact, I've seen more three times as many people line up outside of Best Buy in Roseville around 4 a.m. a few years ago. Go figure.
Ten minutes before the store opened, a Target manager tried to lead the store employees in a mini-rally but was quickly interrupted when some moron knocked over a bunch of DVDs. That moron would be me.
Making matters worse, Target CEO Gregg Steinhafel witnessed the event, the second time I embarrassed myself in front of the man. (More details in a later blog post).
"I'm glad I'm not you," a Target spokeswoman whispered to me.
Thanks much. I feel better.
Speaking of Steinhafel, I spoke to the CEO for a few minutes. We'll post some of our video later on startribune.com. Steinhafel seemed to be in a good mood, as any CEO would be when customers are about to tear the store apart on Black Friday.
But this year will be slightly different. Steinhafel is hoping to extend the sales momentum Target usually gets on Black Friday all the way to Christmas. Normally, people would buy up stuff the day after Thanksgiving and the wait until a few days before Christmas before crowding the stores again.
Beginning on Dec. 1, Target is launching an extensive collaboration with Neiman Marcus that features exclusive merchandise, including clothing, accessories, and even a bicycle, from dozens of prominent designers. Steinhafel says he's confident the collection will keep shoppers in Target stores throughout the holiday shopping season.
Target also has high hopes for its digital efforts. In addition to a bug free website, Target has installed free Wi-Fi throughout its stores (I'm using it right now) and QR codes on select merchandise. Shoppers can scan the QR codes with their smartphones and find more information online. They can even compile their own digital shopping list. Customers can also find the QR codes outside the stores on bus shelters and buy the item right there.
Until now, Target has never really been known as a high tech retailer. Steinhafel hopes that will change this year.
Happy Thanksgiving...er, I mean, Happy Early Black Friday
Posted by: Thomas Lee Updated: November 22, 2012 - 3:56 PMHi everyone. Happy Thanksgiving. By now, most of you are starting (or maybe finishing) Thanksgiving dinner. After that, it's time (for better or for worse) to hit the stores for Black Friday shopping.
I'll be speaking to Target CEO Gregg Steinhafel in Bloomington before Target opens its doors at 9 p.m. And then off to Best Buy in Eden Prairie at 10 p.m. to try something different this year. Best Buy doesn't open until midnight but I will be shadowing the store's manager to get a first hand look at how employees prep, manage, and survive the craziest shopping day of the year.
Stay tuned to this blog for the latest updates. If you don't see anything, send in the Marines. They might need to peel me off the wall once retailers open their doors.
Critics once again chew out Target for opening stores on Thanksgiving
Posted by: Thomas Lee Updated: November 19, 2012 - 1:34 PMIt may not have attracted the same national controversy as last year but there are still plenty of people annoyed at Target Corp.'s decision to once again open its stores on Thanksgiving night for Black Friday.
A Target employee Monday delivered to corporate headquarters a Change.org petition containing 350,000 "Save Thanksgiving" signatures. As they did last year, Target officials politely accepted the petition but otherwise defended their decision:
"The enormity of asking some of our store teams to work on Thanksgiving night is not lost on us," Target vice president of human resources Tim Curoe said in a statement. "We recognize some team members are cutting short time with their families to work. And so, once again, to our team, and to their families and friends, we say thank you."
“And yet, we've heard from many of our team members that they are supportive of our plans, excited to get additional hours, holiday and incentive pay, and understand the need to compete," he said.
I sympathize with anyone who has to work on Thanksgiving night but it's a lost cause. Despite the outcry, retailers are opening even earlier this year. Last year, Target opened its doors at midnight; this year it's 9 p.m..
Critics say they don't believe Target's argument that customers want these hours. But shoppers vote with their feet and dollars. And the truth boils down to this: it cost a lot of money for Target and retailers to open their stores early. They wouldn't do so if they didn't see a demand or financial benefit.
ADVERTISEMENT
recent posts
- Target now discounting its Neiman Marcus collection 70 percent
- Best Buy offers $5 per old cell phone, MP3, gaming hardware et al.
- Charity rating services can provide widely divergent ratings
- Got a return? A list of major retailers' return policies
- Macy's, Toys R Us open 24 hours through Sunday for holiday shopping
- Thymes offers pop-up event for customers missing its warehouse sale
- Target slashes prices on its Target + Neiman Marcus collection by 50%
- Gift card bonuses: Which retailers/restaurants are offering them?
- Wishful thinking: Which luxury retailers might come in the Twin Cities?
- Could weak Windows 8 sales spell holiday trouble for Best Buy?
- Retailers offering free shipping always jumps during the holidays
- Need extra cash for the holidays? It's in your older TVs and computers
- H&M to open in Calhoun Square on Dec. 14
- Best Buy offers some info on Black Friday performance
- Target plans big splash for Neiman Marcus collection
- A Best Buy Black Friday vignette
- And we're off....
- Happy Thanksgiving...er, I mean, Happy Early Black Friday
- Purple Front Approaches Green Bay (January thaw next week, sloppy mix by late week)
- How legislators see -- and don't see -- conflicts of interest
- Target now discounting its Neiman Marcus collection 70 percent
- NHL update: Parise says it'll be 'pretty stupid' if talks blow up
- 'Mary Tyler Moore house' on the market for $2.895 million
- Target slashes prices on its Target + Neiman Marcus collection by 50%
ADVERTISEMENT
inside the StarTribune
-
425 Portland Av. S.
Minneapolis, MN 55488
(612) 673-4000
- Company
- Subscriber Services
- Website
- Buy Ads
- Store
- Connect with Us
© 2013 StarTribune. All rights reserved.
StarTribune.com is powered by Limelight Networks
Newspaper Subscriptions
eEdition
RSS
Newsletters