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Retail Briefs

Target, JCP Top in Diversity Ranking

Target and JCPenney were the only retailers among the companies named to DiversityInc’s 2010 “Top 50 Companies for Diversity” list.

Out of 449 companies participating in this year’s survey by the web-based publication, Target ranked 40th and JCPenney 46th.

The ranking evaluates companies with more than 1,000 employees on key measures including, ceo commitment, “Human Capital,” “Corporate and Organizational Communications” and “Supplier Diversity.”

Target Adds Software to Localize Store Assortments

Looking to offer shoppers more locally focused and tailored fashion, Target Corp. has signed a contract with DemandTec Inc., a provider of on-demand optimization solutions for retailers and consumer products manufacturers.

Dan Fishback, president and ceo of DemandTec, noted that, like pricing in recent years, assortment planning has permanently changed, and rank reports and basic analytics “simply don’t provide major retailers with the right insights they need to optimize and localize assortments for different store clusters, store layouts, and customer segments. Target selecting DemandTec’s Assortment Optimization is a testament to this change and we are honored to further expand our strategic relationship with such an innovative industry leader.”

The software service initially allowed retailers to fine-tune assortments by store cluster and fixture size based on statistical modeling of transferable demand, the company explained.

Overstock Artisans Program Hits Milestone

Overstock’s department featuring handcrafted product has hit the $50 billion mark in terms of payments to artisans and the groups representing them.

The Worldstock department features merchandise from Bali, China, Colombia, Ghana, Guatemala, India, Indonesia, Israel, Mexico, Morocco, Nepal, Pakistan, Peru, Tibet, Thailand, Tunisia, and Vietnam, as well as handcrafted products from the rural United States. Home textiles offerings include rugs, bedding, pillows and throws.

Worldstock returns 60% to 70% of the sales price to its suppliers, according to Overstock.

Macy’s, Amex in Co-Branded Card Deal

Macy’s, Inc. has signed an agreement under which Macy’s and Bloomingdale’s credit cards will be co-branded exclusively with American Express and issued by Citi, the issuer of Macy’s and Bloomingdale’s credit cards.

The new co-branded American Express cards will continue to support the Macy’s Star Rewards and Bloomingdale’s Insider loyalty programs, according to Tom Cole, chief administrative officer.

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